“Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in...

61
“Reinvesting In Our Downtown” Smart Growth America May 10, 2016 – Workshop Report - APPENDIX

Transcript of “Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in...

Page 1: “Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in Midtown New Retail SqFeet 185,000 • Loss of Indigo, Diane's, noretail in LIO or

“Reinvesting In Our Downtown”Smart Growth America ­ May 10, 2016 – Workshop Report  - APPENDIX

Page 2: “Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in Midtown New Retail SqFeet 185,000 • Loss of Indigo, Diane's, noretail in LIO or

APPENDIX – Downtown Ownership – GIS Map MOA Public Works

Downtown Parking Lots – GIS Map MOA Public Works

Downtown Districts - Downtown Comprehensive Plan

Downtown Strategy Plan – Downtown Comprehensive Plan

Overarching Goals – Downtown Comprehensive Plan

AEDC 2016 Annual Outlook Presentation Peach Investments Anchorage Re-Dev 4||5 Project Smart Growth America – Planning for Economic & Fiscal Health – Chris Zimmerman Smart Growth America – Case Studies – Alex Hutchinson

Page 3: “Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in Midtown New Retail SqFeet 185,000 • Loss of Indigo, Diane's, noretail in LIO or
Page 4: “Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in Midtown New Retail SqFeet 185,000 • Loss of Indigo, Diane's, noretail in LIO or
Page 5: “Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in Midtown New Retail SqFeet 185,000 • Loss of Indigo, Diane's, noretail in LIO or
Page 6: “Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in Midtown New Retail SqFeet 185,000 • Loss of Indigo, Diane's, noretail in LIO or
Page 7: “Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in Midtown New Retail SqFeet 185,000 • Loss of Indigo, Diane's, noretail in LIO or
Page 8: “Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in Midtown New Retail SqFeet 185,000 • Loss of Indigo, Diane's, noretail in LIO or
Page 9: “Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in Midtown New Retail SqFeet 185,000 • Loss of Indigo, Diane's, noretail in LIO or
Page 10: “Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in Midtown New Retail SqFeet 185,000 • Loss of Indigo, Diane's, noretail in LIO or
Page 11: “Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in Midtown New Retail SqFeet 185,000 • Loss of Indigo, Diane's, noretail in LIO or
Page 12: “Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in Midtown New Retail SqFeet 185,000 • Loss of Indigo, Diane's, noretail in LIO or
Page 13: “Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in Midtown New Retail SqFeet 185,000 • Loss of Indigo, Diane's, noretail in LIO or
Page 14: “Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in Midtown New Retail SqFeet 185,000 • Loss of Indigo, Diane's, noretail in LIO or
Page 15: “Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in Midtown New Retail SqFeet 185,000 • Loss of Indigo, Diane's, noretail in LIO or
Page 16: “Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in Midtown New Retail SqFeet 185,000 • Loss of Indigo, Diane's, noretail in LIO or
Page 17: “Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in Midtown New Retail SqFeet 185,000 • Loss of Indigo, Diane's, noretail in LIO or

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Page 18: “Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in Midtown New Retail SqFeet 185,000 • Loss of Indigo, Diane's, noretail in LIO or

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Page 19: “Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in Midtown New Retail SqFeet 185,000 • Loss of Indigo, Diane's, noretail in LIO or

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Page 20: “Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in Midtown New Retail SqFeet 185,000 • Loss of Indigo, Diane's, noretail in LIO or

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Page 21: “Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in Midtown New Retail SqFeet 185,000 • Loss of Indigo, Diane's, noretail in LIO or

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Page 22: “Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in Midtown New Retail SqFeet 185,000 • Loss of Indigo, Diane's, noretail in LIO or

Plan

ning

for

Plan

ning

for

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omic

and

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cal H

ealth

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chin

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isto

pher

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Page 23: “Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in Midtown New Retail SqFeet 185,000 • Loss of Indigo, Diane's, noretail in LIO or

Why

pla

n?

“Hav

e a

plan

. Fol

low

the

plan

and

you

’ll be

sur

pris

ed

how

suc

cess

ful y

ou c

an b

e.

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t peo

ple

don’

t hav

e a

plan

. Tha

t’s w

hy it

is e

asy

to b

eat m

ost f

olks

.”

-Pau

l “Be

ar” B

ryan

t

5

Patt

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evel

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ent

The

way

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e pl

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ities

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rtesy

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lex

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ixed

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f sev

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ocks

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pes

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reet

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PA

Page 24: “Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in Midtown New Retail SqFeet 185,000 • Loss of Indigo, Diane's, noretail in LIO or

9

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Page 25: “Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in Midtown New Retail SqFeet 185,000 • Loss of Indigo, Diane's, noretail in LIO or

Phot

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sey

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Page 26: “Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in Midtown New Retail SqFeet 185,000 • Loss of Indigo, Diane's, noretail in LIO or

Cou

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ocal

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18

19

Page 27: “Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in Midtown New Retail SqFeet 185,000 • Loss of Indigo, Diane's, noretail in LIO or

Poor

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l stre

et c

onne

ctiv

ity

21

<-1

mile

squ

are

-><-

1 m

ile s

quar

e ->

3 le

ft tu

rns!

The

dem

ogra

phic

and

eco

nom

ic

fund

amen

tals

have

shift

ed

Wha

t’s b

een

happ

enin

g?

Dem

ogra

phic

Cha

nge

20th

cent

ury

vs. 2

1stce

ntur

y

Ret

irem

ent o

f the

Bab

y Bo

om

Ris

e of

the

Mille

nnia

ls

Smal

ler h

ouse

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Page 28: “Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in Midtown New Retail SqFeet 185,000 • Loss of Indigo, Diane's, noretail in LIO or

Mill

enni

als

are

diffe

rent

25

Mille

nnia

ls

Mille

nnia

ls

“But

mill

enni

als –

the

larg

est

gene

ratio

n in

Am

eric

an h

isto

ry –

will

soon

def

ine

how

Am

eric

a

does

bus

ines

s, ho

w A

mer

ica

thin

ks

and

feel

s, an

d w

heth

er A

mer

ica

hold

s fas

t to

its fr

ee sp

eech

idea

ls.”

Julie

Lyt

hcot

t-Hai

ms,

The

New

Yor

k Ti

mes

Nov

embe

r 2, 2

015

Mille

nnia

ls

“We

can

all a

gree

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Mill

enni

als a

re th

e w

orst.

Phili

p B

ump,

The

Atla

ntic

, Mar

ch 2

5, 2

014

Page 29: “Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in Midtown New Retail SqFeet 185,000 • Loss of Indigo, Diane's, noretail in LIO or

Mille

nnia

lsTh

ey fo

llow

life

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e,

not j

obs.

Mill

enni

als c

hoos

e w

here

to li

vebe

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b.

Of a

ll co

llege

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cate

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ear-o

lds

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ed fo

r a jo

b af

tert

hey

chos

e th

e

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re th

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. (U.S

. Cen

sus)

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t ur

ban

livin

g

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ence

s m

ore

than

th

ings

.

31

And

the

y do

n’t

seem

to

want

car

s

THE

CHAN

GING

MAR

KET

Page 30: “Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in Midtown New Retail SqFeet 185,000 • Loss of Indigo, Diane's, noretail in LIO or

Pref

eren

ces:

Tra

nspo

rtatio

n

Mille

nnia

ls a

re d

rivin

g le

ss–

From

200

1 to

200

9, th

e av

erag

e an

nual

num

ber o

f veh

icle

-mile

s tra

vele

d by

peo

ple

ages

16-

34 d

ropp

ed 2

3 pe

rcen

t.(s

ourc

e: N

atio

nal H

ouse

hold

Tra

vel S

urve

y)

–26

per

cent

lack

ed a

driv

er's

lice

nse

in 2

010,

up 5

per

cent

age

poin

ts fr

om 2

000

(sou

rce:

Fed

eral

Hig

hway

Adm

inis

tratio

n)

34

Mille

nnia

l hou

sing

pre

fere

nces

Mille

nnia

ls e

spec

ially

are

tren

ding

aw

ay

from

trad

ition

al s

ubur

bs–

47%

wou

ld p

refe

r to

live

in a

city

or a

sub

urb

with

a m

ix o

f hou

ses,

sho

ps, a

nd b

usin

esse

s–

40%

wou

ld p

refe

r a ru

ral o

r a s

mal

l tow

n–

12%

say

they

wou

ld p

refe

r a s

ubur

ban

neig

hbor

hood

with

hou

ses

only

Natio

nal A

ssoc

iatio

n of

Rea

ltors

36

“We

just

kno

w th

at in

the

sum

mer

, ev

eryb

ody

is g

oing

to b

e co

ngre

gatin

g w

here

we

live.

It’s

just

real

ly e

xciti

ng fo

r us

to b

e he

re, a

nd w

e se

e it

as a

gre

at v

alue

be

caus

e of

that

.”

"We'

re h

appy

to p

ay a

slig

ht

prem

ium

to b

e cl

ose

to a

ll th

ese

thin

gs th

at e

nric

h ou

r liv

es."

--D

ownt

own

resi

dent

Zie

vBe

resh

Page 31: “Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in Midtown New Retail SqFeet 185,000 • Loss of Indigo, Diane's, noretail in LIO or

Boo

mer

s ar

e a

diffe

rent

kin

d of

Se

nior

Citi

zen

37

“Adu

lthoo

d II”

Boom

ers

not r

eady

for t

he ro

ckin

g ch

air

–To

day’

s re

tiree

can

live

pas

t 90

–“T

hese

add

ition

al 3

1 ye

ars

of e

xpec

ted

life

have

not

bee

n ju

st ta

cked

on

at th

e en

d . .

.To

day’

s 65

-yea

r-old

s ar

e st

artin

g ne

w c

aree

rsor

con

tinui

ng o

ld o

nes,

trav

elin

g ar

ound

the

wor

ld, a

nd e

lopi

ng w

ith n

ew lo

ves,

in a

sta

geof

life

we

are

callin

g ‘A

dulth

ood

II.’”

-cul

tura

l ant

hrop

olog

ist M

ary

Cat

herin

e Ba

teso

n,qu

oted

in U

LI re

port

Boom

ers

and

hous

ing

Boom

ers

are

dow

nsiz

ing

–In

crea

sing

num

bers

, sm

alle

r hou

seho

lds

–Th

e nu

mbe

r of s

enio

r hou

seho

lds

will

grow

twic

e as

fast

as

all o

ther

s ov

er th

e ne

xt c

oupl

ede

cade

s (A

.C. N

elso

n)

–Sh

rinki

ng, a

ging

hou

seho

lds

will

be a

sou

rce

of s

uppl

y of

SFD

hou

sing

, and

dem

and

for

smal

ler a

nd m

ulti-

fam

ily h

ousi

ng

•Fr

om 1

990

to 2

010,

dow

nsiz

ing

hous

ehol

ds (w

ithre

side

nts

65 a

nd o

lder

) mad

e up

20

perc

ent o

f new

hous

ing

dem

and.

But

ove

r the

nex

t 20

year

s th

ey w

illac

coun

t for

85

perc

ento

f the

dem

and

shar

e.•

Mar

ket r

esea

rch

show

s th

is s

egm

ent p

refe

rs s

mal

ler

hom

es o

n sm

alle

r lot

sor

atta

ched

opt

ions

.

40

Sour

ce: N

elso

n.

Boom

ers

and

hous

ing

Asid

e:

They

’re n

ot th

at in

tere

sted

in m

ovin

g to

“ret

irem

ent c

omm

uniti

es.”

Aver

age

age

ente

ring

seni

or h

ousin

g us

ed to

be

70 –

now

it’s

86.

Page 32: “Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in Midtown New Retail SqFeet 185,000 • Loss of Indigo, Diane's, noretail in LIO or

Boom

ers

and

trans

porta

tion

Turn

ing

in th

eir k

eys

–U

sing

loca

l bus

es a

nd tr

ains

mor

e (s

ourc

e: N

atio

nal

Hou

seho

ld T

rave

l Sur

vey)

–Bi

ke tr

ips

incr

ease

d 64

per

cent

bet

wee

n 20

01

and

2009

. (AA

RP)

“Am

eric

ans

Pref

er to

Liv

e in

Mix

ed-

Use

, Wal

kabl

e C

omm

uniti

es”

--N

atio

nal A

ssoc

iatio

n of

Rea

ltors

(O

ctob

er 2

013)

:

•78

per

cent

say

nei

ghbo

rhoo

d is

mor

e im

porta

nt th

an

the

size

of t

he h

ouse

•Fi

fty-s

even

per

cent

wou

ld fo

rego

a h

ome

with

a la

rger

yard

if it

mea

nt a

sho

rter c

omm

ute

to w

ork

Sour

ce: O

ct. 2

013

Con

sum

er s

urve

y co

nduc

ted

for t

he

Nat

iona

l Ass

ocia

tion

of R

ealto

rs

Occ

upie

d H

ousi

ng D

eman

d-Su

pply

Mis

mat

ch 2

011

Sour

ce: A

dapt

ed fr

om A

mer

ican

Hou

sing

Sur

vey

2011

by

Arth

ur C

. Nel

son,

Uni

vers

ity o

f Ariz

ona.

44

Why

this

is p

roba

bly

not

a sh

ort-t

erm

fash

ion,

but a

stru

ctur

al c

hang

e(W

e’re

get

ting

stea

dily

old

er –

not j

ust i

ndiv

idua

lly,

but a

s a

who

le)

Page 33: “Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in Midtown New Retail SqFeet 185,000 • Loss of Indigo, Diane's, noretail in LIO or

Cha

ngin

g ho

useh

old

com

posi

tion

52%

67%

72%

0%10%

20%

30%

40%

50%

60%

70%

80%

1960

2000

2025

hous

ehol

ds w

ithch

ildre

n

hous

ehol

ds w

ithou

tch

ildre

n

Hou

seho

lds

with

and

with

out c

hild

ren,

196

0-20

25

46

4748

Page 34: “Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in Midtown New Retail SqFeet 185,000 • Loss of Indigo, Diane's, noretail in LIO or

4950

5152

Page 35: “Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in Midtown New Retail SqFeet 185,000 • Loss of Indigo, Diane's, noretail in LIO or

5354

55

Econ

omic

gro

wth

20th

cent

ury

vs. 2

1stce

ntur

y

•M

anuf

actu

ring

econ

omy

vs.K

now

ledg

e ec

onom

y

•C

hasi

ng s

mok

esta

cks

vs. C

hasi

ng ta

lent

Page 36: “Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in Midtown New Retail SqFeet 185,000 • Loss of Indigo, Diane's, noretail in LIO or

The

21st

Cen

tury

Eco

nom

y

•C

reat

ivity

, kno

wle

dge,

inno

vatio

n

•Im

porta

nce

of n

etw

orki

ng, i

nter

actio

n

•D

eman

d fo

r ski

lled

wor

kers

“A re

gion

’s m

ost i

mpo

rtan

t sou

rce

of co

mpe

titiv

e ad

vant

age

is its

wor

kfor

ce. .

. it’

s the

poo

l of t

alen

t th

at a

ttrac

t firm

s, pa

rticu

larly

in th

e kn

owle

dge

econ

omy.”

--

Ania

Ania

Wie

ckow

ski,

Harv

ard

Busin

ess R

evie

w, M

ay 2

010

For

bes

.com

*

58

“One

of t

he m

ain

fact

ors

busi

ness

es c

onsi

der

whe

n de

cidi

ng

on w

here

to r

eloc

ate

or e

xpan

d is

the

avai

labl

e po

ol o

f

colle

ge-e

duca

ted

wor

kers

. A

nd th

at h

as c

itie

s co

mpe

ting

for

colle

ge-e

duca

ted

youn

g ad

ults

.”

* Do

wnt

owns

: Wha

t's B

ehin

d Am

erica

's M

ost S

urpr

ising

Rea

l Est

ate

Boom

–M

arch

25,

201

3

“And

ther

e’s

one

plac

e th

is d

esir

ed d

emog

raph

ic, c

olle

ge-e

duca

ted

prof

essi

onal

s be

twee

n th

e ag

es o

f 25

and

34, t

ends

to w

ant t

o liv

e:

tigh

t-kn

it

g5

34,

it u

rban

nei

ghbo

rhoo

ds th

at a

re c

lose

to w

ork

and

have

lots

of

gg

ente

rtai

nmen

t and

sho

ppin

g op

tion

s w

ithi

n an

eas

y w

alk.

Busin

ess m

oves

bac

k do

wnt

own

Res

pond

ing

to th

e m

arke

t

“Sur

ging

City

Cen

ter J

ob G

row

th,”

Joe

Cor

trigh

t, Fe

b. 2

015 “D

urin

g th

e ec

onom

ic

expa

nsio

n fro

m 2

002

to

2007

, the

his

toric

tren

d of

job

dece

ntra

lizat

ion

was

ver

y m

uch

pres

ent.

. . .

But s

ince

200

7 . .

. th

e pi

ctur

e ch

ange

d dr

amat

ical

ly. W

hile

onl

y 7

city

cen

ters

ou

tper

form

ed th

eir

surro

undi

ng m

etro

s in

th

e 20

02-0

7 pe

riod,

21

outp

erfo

rmed

the

perip

hery

in 2

007-

11.”

60

Page 37: “Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in Midtown New Retail SqFeet 185,000 • Loss of Indigo, Diane's, noretail in LIO or

61

Busi

ness

es re

spon

d to

ch

angi

ng p

refe

renc

es

“Loc

atio

ns d

eem

ed w

alka

ble

appr

ecia

te

mor

e th

an th

ose

that

are

car

-dep

ende

nt”

Page 38: “Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in Midtown New Retail SqFeet 185,000 • Loss of Indigo, Diane's, noretail in LIO or

Busi

ness

es re

spon

d to

ch

angi

ng p

refe

renc

es

•Ac

ross

the

coun

try c

orpo

ratio

ns a

re

resp

ondi

ng to

em

ploy

ee p

refe

renc

es a

nd

mov

ing

to th

e ta

lent

. •

They

are

cho

osin

g to

relo

cate

from

driv

e-on

ly o

ffice

par

ks to

wal

kabl

e lo

catio

ns.

66Th

e O

ther

Wal

kabl

e Ur

ban

Tren

d

It’s n

ot ju

st b

ig m

etro

polit

an a

reas

, but

smal

l to

wns

too

“The

sam

e de

mog

raph

ic an

d m

arke

t tre

nds

that

are

driv

ing

a re

turn

to b

ig ci

ties c

an

also

boo

st th

e pr

ospe

cts o

f sm

alle

r citi

es

and

tow

ns su

rrou

nded

by

subu

rbs a

nd

coun

trys

ide.

--Ro

bert

Ste

utev

ille,

Sm

all c

ities

and

tow

ns a

re u

rban

pl

aces

, too

-Bet

ter!

Citi

es &

Tow

ns

67

Wha

t the

mar

ket w

ants

The

dem

and

for w

alka

ble,

dow

ntow

n de

velo

pmen

t

68

Page 39: “Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in Midtown New Retail SqFeet 185,000 • Loss of Indigo, Diane's, noretail in LIO or

6970

71

Ther

e is

a p

rice/

valu

e pr

emiu

m

Ther

e is

a p

rice/

valu

efo

r wal

kabl

e pl

aces

Mou

ntin

g ev

iden

ce fr

om a

ll ar

ound

th

e U

S

Ther

e is

a p

rice/

valu

e pr

emiu

m

for w

alka

ble

plac

es

72

Page 40: “Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in Midtown New Retail SqFeet 185,000 • Loss of Indigo, Diane's, noretail in LIO or

Appl

ies

to re

side

ntia

l rea

l est

ate

-

•Sou

rces

: “W

alki

ng th

e W

alk”

by

Jose

ph C

ortw

right

, CEO

s for

Citi

es a

nd

“The

Wal

kabi

lity

Prem

ium

in C

omm

ercia

l Rea

l Est

ate

Inve

stm

ents

” by

Gar

y Pi

voan

d Je

ffrey

Fish

er

Abov

e-av

erag

e w

alka

bilit

y:

$4,0

00 to

$3

4,00

0 m

ore

in h

ome

sale

s pr

ice

Ther

e is

a p

rice/

valu

e pr

emiu

m

for w

alka

ble

plac

es (r

esid

entia

l)

Gre

ater

wal

kabi

lity:

1% to

9%

in

crea

se in

co

mm

erci

al

prop

erty

val

ue

depe

ndin

g on

type

; al

so h

ighe

r in

com

es a

nd lo

wer

ca

pita

lizat

ion

rate

s•S

ourc

es: “

Wal

king

the

Wal

k” b

y Jo

seph

Cor

twrig

ht, C

EOs f

or C

ities

and

“T

he W

alka

bilit

y Pr

emiu

m in

Com

mer

cial R

eal E

stat

e In

vest

men

ts”

by G

ary

Pivo

and

Jeffr

ey F

isher

Appl

ies

to c

omm

erci

al re

al e

stat

e -

Ther

e is

a p

rice/

valu

e pr

emiu

m

for w

alka

ble

plac

es (c

omm

erci

al)

75

2014

stu

dy ra

nks

the

top

30 U

S 20

14 s

tudy

rank

s th

e to

p 30

US

met

ropo

litan

are

as in

wal

kabi

lity

Maj

or fi

ndin

gs:

•Th

e to

p ra

nkin

g m

etro

s hav

e an

av

erag

e of

38%

hig

her G

DP p

er ca

pita

as

com

pare

d to

the

low

rank

ing

met

ros.

•O

ffice

rent

in u

rban

Wal

kUPs

rent

at a

74

% h

ighe

r pre

miu

m p

er sq

uare

foot

ov

er d

rivab

le su

b-ur

ban

area

s.

Ther

e is

a p

rice/

valu

e Th

ere

is a

pric

prem

ium

for

prem

ium

for

wal

kabl

e pl

aces

76

Page 41: “Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in Midtown New Retail SqFeet 185,000 • Loss of Indigo, Diane's, noretail in LIO or

Wal

kabl

e U

rban

Pla

ces

“. . .

wal

kabl

e ur

ban

plac

es a

nd p

roje

cts

will

driv

e to

mor

row

’s

real

est

ate

indu

stry

and

the

econ

omy”

77

Wal

kabl

e U

rban

Pla

ces s

--Atla

nta

Rep

ort f

indi

ng:

From

199

2-20

00, r

ough

ly 1

3 pe

rcen

t of r

eal e

stat

e in

vest

men

t in

the

regi

on w

ent

into

Cur

rent

and

Em

ergi

ng

‘Wal

kUPs

.’

From

200

1-20

08, t

hat n

umbe

r do

uble

dto

26

perc

ent.

Sinc

e 20

09, i

t mor

e th

an

doub

led

agai

n, re

achi

ng

60 p

erce

nt.

78

Cha

nge

in A

vera

ge R

ents

per

Squ

are

Foot

Si

nce

2008

:W

eigh

ted

Ave

rage

Acr

oss

All

Mic

higa

n M

etro

s

Off

ice

&

Ret

ail i

n W

alkU

PsO

utpe

rfor

ms

Edg

e C

itie

s•

Aver

age

Edge

City

Offi

ce a

nd

Ret

ail r

ents

are

stil

l low

er n

ow

than

in 2

008.

•B

ut W

alkU

Pre

nts

have

rise

n,

indi

catin

g m

arke

t pre

fere

nce.

-20%

-15%

-10%-5%0%5%

WA

LKU

PSED

GE

CIT

IES

RET

AIL

OFF

ICE

Ave

rage

Hom

e Pr

ices

per

Squ

are

Foot

in th

e M

ichi

gan

Met

ros

For-

Sale

R

esid

enti

al

Pric

es A

re

Ris

ing

Fast

est

in W

alkU

PS•

The

Wal

kUP

pric

e pr

emiu

m

has

incr

ease

d si

nce

2010

•A

slig

ht p

rem

ium

has

als

o em

erge

d fo

r Wal

kabl

eN

eigh

borh

oods

$0$25

$50

$75

$100

$125

$150

2010

2011

2012

2013

2014

36%

56%

WAL

KUP

WAL

KABL

EN

EIG

HBO

RH

OO

DD

RIV

ABLE

EDG

E C

ITY

DR

IVAB

LESU

B-D

IVIS

ION

Page 42: “Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in Midtown New Retail SqFeet 185,000 • Loss of Indigo, Diane's, noretail in LIO or

81

How

com

mun

ities

de

velo

paf

fect

s go

vern

men

t exp

endi

ture

san

dre

venu

es.

Expe

nditu

res

for i

nfra

stru

ctur

e an

d se

rvic

es a

re m

ore

effic

ient

in d

ense

r, be

tter c

onne

cted

are

as.

Dev

elop

men

t affe

cts

cost

sD

evel

opm

ent a

ffect

s co

sts

Com

pact

dev

elop

men

t offe

rs e

ffici

enci

es in

de

liver

ing

serv

ices

.–

Polic

e an

d fir

e de

partm

ents

hav

e le

ss a

rea

to

cove

r.–

Few

er m

iles

of ro

ad to

co

ver f

or tr

ash

pick

up,

scho

ol b

uses

.–

Few

er m

iles

of w

ater

and

se

wer

pip

es to

mai

ntai

n.

Page 43: “Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in Midtown New Retail SqFeet 185,000 • Loss of Indigo, Diane's, noretail in LIO or

8586

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ce: U

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ourc

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ith H

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Page 44: “Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in Midtown New Retail SqFeet 185,000 • Loss of Indigo, Diane's, noretail in LIO or

CASE

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ruct

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Page 45: “Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in Midtown New Retail SqFeet 185,000 • Loss of Indigo, Diane's, noretail in LIO or

Dev

elop

men

t affe

cts

reve

nue

–Lo

w-d

ensi

ty s

ubur

ban

deve

lopm

ent g

ener

ates

muc

h le

ss p

er a

cre

reve

nue.

–“M

ain

stre

ets”

and

den

se m

ixed

-use

are

ascr

eate

syn

ergi

es th

at p

rodu

ce s

ubst

antia

llyhi

gher

reve

nues

than

com

mer

cial

spr

awl.

DO

WN

TOW

N M

AC

ON

HA

S H

IGH

EST

AVER

AG

E PR

OPE

RTY

VA

LUES

PER

AC

RE

IN B

IBB

CO

UN

TY

94

•Do

wnt

own

Avg.

As

sess

ed V

alue

pe

r Acr

e: $

1.3

mill

ion

•Sh

oppe

s at R

iver

Cr

ossin

g:

$967

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per

Ac

re

•Co

unty

Avg

: $7

7,00

0

Impl

icat

ions

for p

olic

yW

hat d

oes

this

mea

n?

The

botto

m li

ne

96

“A re

gion

’s m

ost i

mpo

rtant

sour

ce o

f com

petit

ive

adva

ntag

e is

its w

orkf

orce

.

In th

e pa

st, e

mpl

oyer

s attr

acte

d w

orke

rs, b

ut n

ow, a

ccor

ding

to a

stud

y by

CEO

s for

Citi

es, i

t’s th

e po

ol o

f tal

ent t

hat a

ttrac

t firm

s, pa

rticu

larly

in th

e

know

ledg

e ec

onom

y. T

he v

ast m

ajor

ity o

f col

lege

edu

cate

d yo

ung

peop

le

chos

e w

here

to li

ve b

ased

on

fact

ors o

ther

than

em

ploy

men

t opp

ortu

nitie

s.

Cre

atin

g at

tract

ive,

mix

ed u

se c

omm

uniti

es a

ttrac

ts th

e ta

lent

, and

that

bus

ines

s.”--

Ania

Ania

Wie

ckow

ski,

Harv

ard

Busin

ess R

evie

w,

The

Mag

azin

e, M

ay 2

010

Page 46: “Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in Midtown New Retail SqFeet 185,000 • Loss of Indigo, Diane's, noretail in LIO or

97

Econ

omic

dev

elop

men

t is

incr

easi

ngly

a

Econ

omic

dev

elop

men

t is

incr

eaco

mpe

titio

n ov

er p

lace

mak

ing.

Stra

tegi

es

•En

hanc

ing

wal

kabi

lity

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reat

ive

plac

emak

ing

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ansi

t•

Hou

sing

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ace

man

agem

ent

Than

k yo

u

Chris

toph

er Z

imm

erm

anVi

ce P

resid

ent f

or E

cono

mic

Deve

lopm

ent

Page 47: “Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in Midtown New Retail SqFeet 185,000 • Loss of Indigo, Diane's, noretail in LIO or

Den

ver,

CO

1970

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vver,

CO

119700

-1998

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enve

r, C

O 1

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offi

ce

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ncy

Den

ver,

CO

1970

Den

ver,

CO

1985

Page 48: “Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in Midtown New Retail SqFeet 185,000 • Loss of Indigo, Diane's, noretail in LIO or

“Den

ver,

a to

wn

that

's n

ever

be

en N

o. 1

in a

nyth

ing

but

carb

on m

onox

ide

leve

ls.”

Page 49: “Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in Midtown New Retail SqFeet 185,000 • Loss of Indigo, Diane's, noretail in LIO or

•D

ownt

own

deve

lopm

ent

•Ec

onom

ic d

iver

sific

atio

n

•Tr

ansp

orta

tion

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nova

tive

finan

ce

1992

2002

1992

Page 50: “Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in Midtown New Retail SqFeet 185,000 • Loss of Indigo, Diane's, noretail in LIO or

2002

1992

2007

1992

2002

1992

2002

1992

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Page 51: “Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in Midtown New Retail SqFeet 185,000 • Loss of Indigo, Diane's, noretail in LIO or

1992

2002

1992

2002

1992

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AIL

2002

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Page 52: “Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in Midtown New Retail SqFeet 185,000 • Loss of Indigo, Diane's, noretail in LIO or

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Page 53: “Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in Midtown New Retail SqFeet 185,000 • Loss of Indigo, Diane's, noretail in LIO or

Den

ver,

CO

201

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de im

prov

emen

t gra

nts

Was

hing

ton

DC

Page 54: “Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in Midtown New Retail SqFeet 185,000 • Loss of Indigo, Diane's, noretail in LIO or

Smal

l Bus

ines

s As

sist

ance

Nas

hville

, tn

Eb-5

imm

igra

nt in

vest

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ashi

ngto

n, D

C

Page 55: “Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in Midtown New Retail SqFeet 185,000 • Loss of Indigo, Diane's, noretail in LIO or

New

Mar

ket/

His

toric

tax

cred

itsBa

ltim

ore,

MD

Page 56: “Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in Midtown New Retail SqFeet 185,000 • Loss of Indigo, Diane's, noretail in LIO or

(Re)

Bui

ldin

g D

ownt

own:

A G

uide

book

fo

r Rev

italiz

atio

n1.

Und

erst

and

your

com

mun

ity2.

Cre

ate

an a

ttrac

tive,

wal

kabl

e pl

ace

3.D

iver

sify

eco

nom

ic u

ses

4. P

lan

for e

quity

5.A

lign

gove

rnan

ce a

nd in

stitu

tions

6.

Fina

nce

proj

ects

7.

Man

age

for t

he fu

ture

Rev

iew

•Ec

onom

ic d

ev is

abo

ut p

lace

mak

ing

•Pl

acem

akin

g m

eans

wal

kabi

lity

•W

hat m

akes

for w

alka

bilit

y?

Page 57: “Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in Midtown New Retail SqFeet 185,000 • Loss of Indigo, Diane's, noretail in LIO or

Key

poin

ts:

Roa

dway

des

ign

Stre

ets

are

all a

bout

ped

estri

an c

omfo

rt •

Gen

erou

s si

dew

alks

-In

cor

e sh

oppi

ng a

rea,

si

dew

alks

wid

e en

ough

to a

ccom

mod

ate

outd

oor d

inin

g •

Max

2 la

nes

on in

tern

al s

treet

s•

On-

stre

et p

arki

ng•

Prov

ide

a ne

twor

k of

sm

all b

lock

s –

divi

de u

p su

perb

lock

s•

Park

onc

e an

d w

alk

Key

poin

ts:

Posi

tion

of b

uild

ings

•Bu

ildin

gs a

re o

rient

ed to

act

ivat

e th

e st

reet

•G

roun

d-le

vel s

hops

, caf

es, r

esta

uran

ts, a

nd

com

mun

ity s

ervi

ces

defin

e an

d ac

tivat

e •

Cen

ters

are

invi

ting

to p

edes

trian

s -o

rient

ed

tow

ards

stre

ets,

pla

zas,

and

tow

n sq

uare

s•

Publ

ic s

idew

alks

are

line

d by

sho

ps, b

uild

ings

w

ith la

rge

disp

lay

win

dow

s, fr

eque

ntly

pla

ced

door

s, a

nd h

uman

-sca

led

sign

s

45

Den

sity

and

he

ight

do

not

equa

l urb

anity

Why

is n

o on

e us

ing

this

sid

ewal

k?

Page 58: “Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in Midtown New Retail SqFeet 185,000 • Loss of Indigo, Diane's, noretail in LIO or

47No

rfolk

, Virg

inia

Heig

ht a

nd d

ensit

y w

ithou

t urb

anity

=

anti-

pede

stria

n sp

ace

48

Heig

ht a

nd d

ensit

y w

ithou

t urb

anity

=

anti-

pede

stria

n sp

ace

A sid

ewal

k no

one

real

ly

wan

ts to

wal

k on

Faça

de p

erm

eabi

lity:

Bui

ldin

gs e

ngag

e th

e st

reet

, cr

eatin

g an

invi

ting

ambi

ance

for p

edes

trian

s

4950

. . .

wha

t’s n

ot a

llow

ed:

(pho

to: C

hris

Zim

mer

man

–O

ct 2

011)

Build

ing

Side

wal

kSu

rface

par

king

Sitin

gTh

is is

a bi

g “n

o-no

Page 59: “Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in Midtown New Retail SqFeet 185,000 • Loss of Indigo, Diane's, noretail in LIO or

Activ

ate

empt

y sp

aces

Cre

ate

a “s

treet

wal

l”

Page 60: “Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in Midtown New Retail SqFeet 185,000 • Loss of Indigo, Diane's, noretail in LIO or

55

Old

, ped

estri

an u

n-fri

endl

y bu

ildin

gs (c

irca

2002

)

Phot

o-sh

oppe

d pe

dest

rian

s56

Sam

e sit

e (2

010)

6 st

orie

s

5 of

apa

rtm

ents

30,0

00 s

q. ft

. gro

und-

floor

reta

il

And

now

we

have

act

ual p

edes

tria

ns.

57

(pho

to: C

hris

Zim

mer

man

–O

ct 2

011)

(pho

to: C

hris

Zim

mer

man

–20

12)

Dis

cuss

ion

Que

stio

ns1.

Why

are

n’t d

evel

oper

s co

min

g to

us

with

pro

ject

s th

at th

e co

mm

unity

wou

ld li

ke to

see

, bo

th in

term

s of

pro

ject

loca

tion

and

the

char

acte

r of t

he d

evel

opm

ent?

2. W

hat w

ill it

take

for y

ou to

dev

elop

new

hig

h de

nsity

mix

ed u

se p

roje

cts

that

the

MO

A,

and

the

com

mun

ity w

ant t

o se

e in

the

Dow

ntow

n ar

ea?

3. P

leas

e he

lp u

s id

entif

y an

d th

en c

odify

thos

e in

cent

ive

tool

s, th

at th

e co

mm

unity

can

be

willi

ng to

sup

port,

that

will

brin

g ne

w g

row

th a

nd d

evel

opm

ent i

n D

ownt

own.

4. M

any

Soci

al S

ervi

ce p

rovi

ders

are

in th

e D

ownt

own

area

. Do

the

serv

ices

that

they

pr

ovid

e ne

ed to

be

disb

urse

d ar

ound

the

Anch

orag

e Bo

wl t

o pr

ovid

e be

tter c

over

age

and

relie

ve th

e co

ncen

tratio

n th

at is

her

e? H

as th

is h

elpe

d or

hin

dere

d D

ownt

own?

5. W

hat o

ther

cod

es o

r reg

ulat

ions

are

nee

ded

to m

ake

Dow

ntow

n be

tter?

6. A

re th

ere

curre

nt b

usin

ess

prac

tices

, ord

inan

ces

or la

ck o

f, th

at a

re im

pact

ing

Dow

ntow

n?

7. H

ow s

houl

d in

frast

ruct

ure

impr

ovem

ents

sup

port

new

Dow

ntow

n de

velo

pmen

t?

8. W

ill th

e th

ings

that

we

have

talk

ed a

bout

in p

revi

ous

ques

tions

sup

port

smal

l bu

sine

sses

in D

ownt

own?

If n

ot, w

hat c

an w

e do

to s

uppo

rt sm

all b

usin

esse

s in

the

Dow

ntow

n ar

ea?

Page 61: “Reinvesting In Our Downtown”€¦ · 100 due to “Lofts“ conversion • 100’s built in Midtown New Retail SqFeet 185,000 • Loss of Indigo, Diane's, noretail in LIO or

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