By Ian Colgan | Redevelopment & Revitalization | Nov 22nd
This article is Part 1 of a two part series titled “Entertainment Districts as Economic Development Initiatives.” This series describes the role of entertainment and entertainment districts in economic development.
Entertainment is an extremely important component to the contribution of activity and vibrancy in a downtown. The concentration of entertainment uses creates a definable sense of place that can act as an enormous draw for people, both locals and tourists. Restaurants, bars, and taverns attract more people when clustered in a definable area rather than on their own. Integration of uses such as cinemas, theaters, restaurants, and cafes encourages multiple consumption of entertainment themed businesses.
One of the consequences of retail and entertainment uses moving outside of central business districts was that after the working day was over, downtowns emptied as workers went home and the businesses supporting them closed. Entertainment businesses and attractions attract people, and therefore activity, to downtowns and neighborhoods during all hours of the day, particularly during the evening and nighttime hours. This brings a balance of activity to downtown, creating what has come to be termed a “24-7 downtown” – that is, a downtown with activity throughout a given day or week.
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By Ian Colgan | Redevelopment & Revitalization | Sep 13th
This article is Part 4 of a four part series titled “Strategic Neighborhood Redevelopment.” This series provides the considerations involved in formulating a meaningful neighborhood redevelopment strategy. From Development Concepts Inc.’s 19 years of redevelopment experience, we’ll explain what in involved in establishing redevelopment strategies that produce sustainable private investment.
You can read Part 1 here, Part 2 here, and Part 3 here.
It is not uncommon to hear urban economic development experts discuss what it takes for an urban site to be competitive with “greenfield” sites. They often refer to this as trying to “level the playing field.” This statement should serve as an accurate barometer of what the goal should be in engaging in redevelopment activity. Due to economic decline and general neglect, a significant percentage of our urban real estate is not capable of attracting meaningful investment. More importantly, the quality of life for those that live and work in these areas is absolutely unacceptable. Just as importantly, this real estate represents a lost opportunity to leverage investment for tax revenue. Faced with undesirable land and risky development prospects, investment has continuously occurred in areas outside of urban cores, often outside of a core city entirely.
Reclaiming hundreds of acres of non-productive real estate needs a methodical approach, and many of the solutions are more common sense than rocket science. What is needed is a proactive, systematic, market based approach that focuses both the private sector and the public sector on creating an attractive real estate investment environment in designated redevelopment areas. This is not a new concept. Organizing around each of these five components identified in this paper make sense in pursuing a redevelopment strategy. Continue Reading »
Tags: Neighborhood Redevelopment, Redevelopment Strategy
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By Ian Colgan | Redevelopment & Revitalization | Aug 23rd
This article is Part 3 of a four part series titled “Strategic Neighborhood Redevelopment.” This series provides the considerations involved in formulating a meaningful neighborhood redevelopment strategy. From Development Concepts Inc.’s 19 years of redevelopment experience, we’ll explain what in involved in establishing redevelopment strategies that produce sustainable private investment.
You can read Part 1 here and Part 2 here.
Five key components are required for a successful redevelopment strategy
There are no easy answers to address the issues of neighborhood distress. A carefully crafted strategy, established with community stakeholders and public and private sector leadership, can make a difference. What will work on a larger scale, providing sustainable results, is likely to involve several critical components. The following components are essential building blocks to an effective and comprehensive redevelopment strategy.
Tags: Code Enforcement, Community Buy-In, Land Acquisition, Neighborhood Redevelopment, Private Investment
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By Ian Colgan | Redevelopment & Revitalization | Jul 12th
Successful neighborhood redevelopment requires a broad macro approach.
This article is Part 2 of a four part series titled “Strategic Neighborhood Redevelopment.” This series provides the considerations involved in formulating a meaningful neighborhood redevelopment strategy. From Development Concepts Inc.’s 19 years of redevelopment experience, we’ll explain what is involved in establishing redevelopment strategies that produce sustainable private investment.
You can find Part 1 here.
Micro vs. Macro Responses
Given the impediments described in Part 1 of this series, it is surprising that there have been few comprehensive attempts to organize dysfunctional neighborhoods to better respond to the marketplace. One likely reason is the lack of an agreed-upon, systematic, “macro” approach to address the impediments and prepare distressed areas for market investment.
In many cities, the approach for neighborhood redevelopment has been predominately on a parcel-by-parcel basis. Public sector and not-for-profits are the primary catalysts for change. Their mission, due to limited resources, has been to incrementally reinforce selected parcels of real estate. It is clear the pervasive impact of the impediments described in this section make a “micro” approach ineffective in creating a substantive impact able to capture the attention of the marketplace. While some good comes from a targeted reinforcement approach, it does not reset the real estate context in a manner that responds to today’s market requirements. Continue Reading »
Tags: Macro Approach, Marketplace, Neighborhood Redevelopment, Neighborhoods, public-private partnership
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By Ian Colgan | Redevelopment & Revitalization | Jun 30th
Neighborhood Revitalization in LeDroit Park near Howard University - Image courtsey of Flickr user NCinDC
The growth of American metropolitan areas since the Second World War has resulted in a distinct trend related to urban institutions of higher education. As population and wealth left the central city, some College and Universities – many of which were once located on the periphery of their communities – found themselves surrounded by urban neighborhoods that went through periods of significant decline and disinvestment.
Until the late 20th Century, a common practice for these institutions was to turn their back on what was going on around them. This often created a schism between the university and the surrounding neighborhood, straining “town-gown” relations. However, the past two decades have seen a major shift in thinking, and now hundreds of universities have become more open to their environs as they see their future success linked to their location. Several models of university community engagement are emerging. They range from multi-billion dollar investments in real estate, land and facilities to community based programs that link college education with community participation and education.
Below are examples from around the country that have produced tangible results in terms of university-led neighborhood revitalization. This is meant to go beyond programs and strategies that simply focus on improving town-gown relations to examine initiatives that have leveraged investment and physical development. Continue Reading »
Tags: acquisition, education, Neighborhood Redevelopment, public-private partnership
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