Real Estate Development and Reuse (part 1), TN Basic Economic Development Course 2013
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  • I certainly appreciate the opportunity to speak to you today-this is a lot of fun—I am used to seeing folks smile and nod in the audience I will just pretend that this is radio and will envision you all smiling! We will have some time for questions after we finish. We are certainly working the network today-Wade in GA and Ramay in TN Thanks to Wade Adler for his support and interest in the downtown and Main Street Program—the AARC organization is just incredible and I have learned so much by knowing about the organization. reading their information. Ramay Winchester for her continued guidance and information about Retirees and what their interests and wants are—
  • I certainly appreciate the opportunity to speak to you today-this is a lot of fun—I am used to seeing folks smile and nod in the audience I will just pretend that this is radio and will envision you all smiling! We will have some time for questions after we finish. We are certainly working the network today-Wade in GA and Ramay in TN Thanks to Wade Adler for his support and interest in the downtown and Main Street Program—the AARC organization is just incredible and I have learned so much by knowing about the organization. reading their information. Ramay Winchester for her continued guidance and information about Retirees and what their interests and wants are—
  • I certainly appreciate the opportunity to speak to you today-this is a lot of fun—I am used to seeing folks smile and nod in the audience I will just pretend that this is radio and will envision you all smiling! We will have some time for questions after we finish. We are certainly working the network today-Wade in GA and Ramay in TN Thanks to Wade Adler for his support and interest in the downtown and Main Street Program—the AARC organization is just incredible and I have learned so much by knowing about the organization. reading their information. Ramay Winchester for her continued guidance and information about Retirees and what their interests and wants are—
  • I certainly appreciate the opportunity to speak to you today-this is a lot of fun—I am used to seeing folks smile and nod in the audience I will just pretend that this is radio and will envision you all smiling! We will have some time for questions after we finish. We are certainly working the network today-Wade in GA and Ramay in TN Thanks to Wade Adler for his support and interest in the downtown and Main Street Program—the AARC organization is just incredible and I have learned so much by knowing about the organization. reading their information. Ramay Winchester for her continued guidance and information about Retirees and what their interests and wants are—
  • I certainly appreciate the opportunity to speak to you today-this is a lot of fun—I am used to seeing folks smile and nod in the audience I will just pretend that this is radio and will envision you all smiling! We will have some time for questions after we finish. We are certainly working the network today-Wade in GA and Ramay in TN Thanks to Wade Adler for his support and interest in the downtown and Main Street Program—the AARC organization is just incredible and I have learned so much by knowing about the organization. reading their information. Ramay Winchester for her continued guidance and information about Retirees and what their interests and wants are—
  • I certainly appreciate the opportunity to speak to you today-this is a lot of fun—I am used to seeing folks smile and nod in the audience I will just pretend that this is radio and will envision you all smiling! We will have some time for questions after we finish. We are certainly working the network today-Wade in GA and Ramay in TN Thanks to Wade Adler for his support and interest in the downtown and Main Street Program—the AARC organization is just incredible and I have learned so much by knowing about the organization. reading their information. Ramay Winchester for her continued guidance and information about Retirees and what their interests and wants are—
  • I certainly appreciate the opportunity to speak to you today-this is a lot of fun—I am used to seeing folks smile and nod in the audience I will just pretend that this is radio and will envision you all smiling! We will have some time for questions after we finish. We are certainly working the network today-Wade in GA and Ramay in TN Thanks to Wade Adler for his support and interest in the downtown and Main Street Program—the AARC organization is just incredible and I have learned so much by knowing about the organization. reading their information. Ramay Winchester for her continued guidance and information about Retirees and what their interests and wants are—
  • Now I want everyone to think about downtown---whether you are a community wanting to attract the young retiree or a retiree wanting to find that right community---I want you to think for a minute about one thing. . . Downtown Envision a downtown—what words do you think of when I say Downtown? full of life? Active? Easy to get around? Artsy? Dull? Gray? Lacking energy? Ok—hold that thought.
  • Now I want everyone to think about downtown---whether you are a community wanting to attract the young retiree or a retiree wanting to find that right community---I want you to think for a minute about one thing. . . Downtown Envision a downtown—what words do you think of when I say Downtown? full of life? Active? Easy to get around? Artsy? Dull? Gray? Lacking energy? Ok—hold that thought.
  • Now I want everyone to think about downtown---whether you are a community wanting to attract the young retiree or a retiree wanting to find that right community---I want you to think for a minute about one thing. . . Downtown Envision a downtown—what words do you think of when I say Downtown? full of life? Active? Easy to get around? Artsy? Dull? Gray? Lacking energy? Ok—hold that thought.
  • Now I want everyone to think about downtown---whether you are a community wanting to attract the young retiree or a retiree wanting to find that right community---I want you to think for a minute about one thing. . . Downtown Envision a downtown—what words do you think of when I say Downtown? full of life? Active? Easy to get around? Artsy? Dull? Gray? Lacking energy? Ok—hold that thought.
  • Pilot Project It hasn’t been easy But for the past 30 years—dts across the country have been reinventing themselves and shaking off the stigma that the late 60s and 70s left behind.
  • Pilot Project It hasn’t been easy But for the past 30 years—dts across the country have been reinventing themselves and shaking off the stigma that the late 60s and 70s left behind.
  • Pilot Project It hasn’t been easy But for the past 30 years—dts across the country have been reinventing themselves and shaking off the stigma that the late 60s and 70s left behind.
  • Pilot Project It hasn’t been easy But for the past 30 years—dts across the country have been reinventing themselves and shaking off the stigma that the late 60s and 70s left behind.
  • Pilot Project It hasn’t been easy But for the past 30 years—dts across the country have been reinventing themselves and shaking off the stigma that the late 60s and 70s left behind.
  • Pilot Project It hasn’t been easy But for the past 30 years—dts across the country have been reinventing themselves and shaking off the stigma that the late 60s and 70s left behind.
  • Pilot Project It hasn’t been easy But for the past 30 years—dts across the country have been reinventing themselves and shaking off the stigma that the late 60s and 70s left behind.
  • Pilot Project It hasn’t been easy But for the past 30 years—dts across the country have been reinventing themselves and shaking off the stigma that the late 60s and 70s left behind.
  • Pilot Project It hasn’t been easy But for the past 30 years—dts across the country have been reinventing themselves and shaking off the stigma that the late 60s and 70s left behind.
  • The little experiment that started in three mid western communities is now a national movement that reaches to early state in the union. Most states have a organized Main Street organization and this is a great place to start when seeking out great communities. www.mainstreet.org
  • Condo living can be a wonderful answer to the retiree that doe not want the upkeep on a house or cottage— New downtown living is so popular in places like Indianapolis, Nashville, and Chicago- during the years of 1990-2000, the population of 64-75 year olds in downtown Chicago increased by 17% a condo in the city can be very exciting,, offering nightlife, cultural amenities, restaurants, and .
  • Downtown as a healthy option— this is one of my favorite young retiree---she is a shop owner and a avid traveler. She buys antiques on her travels and then sells them in her shop when she is tired and wants to come back to her little downtown.
  • Walkability YMCA and other indoor facilities Yoga and massage Community pools Churches (menu of activities)
  • Conclusion: Downtowns are a great place for the young, active retiree!
  • Let’s talk retail---
  • Farmer’s market Pick your own Community gardens Buy local campaign
  • Just the layout of many downtowns lend themselves to the feeling of safety—the density and the neighborhood of downtown can be really appealing to the retiree couple or single retiree. When downtown is well lit and clean--residents use the streets as an extension of their home— many of our communities see folks setting out on porches, exercising and socializing on any given evening.
  • I certainly appreciate the opportunity to speak to you today-this is a lot of fun—I am used to seeing folks smile and nod in the audience I will just pretend that this is radio and will envision you all smiling! We will have some time for questions after we finish. We are certainly working the network today-Wade in GA and Ramay in TN Thanks to Wade Adler for his support and interest in the downtown and Main Street Program—the AARC organization is just incredible and I have learned so much by knowing about the organization. reading their information. Ramay Winchester for her continued guidance and information about Retirees and what their interests and wants are—
  • I certainly appreciate the opportunity to speak to you today-this is a lot of fun—I am used to seeing folks smile and nod in the audience I will just pretend that this is radio and will envision you all smiling! We will have some time for questions after we finish. We are certainly working the network today-Wade in GA and Ramay in TN Thanks to Wade Adler for his support and interest in the downtown and Main Street Program—the AARC organization is just incredible and I have learned so much by knowing about the organization. reading their information. Ramay Winchester for her continued guidance and information about Retirees and what their interests and wants are—
  • I certainly appreciate the opportunity to speak to you today-this is a lot of fun—I am used to seeing folks smile and nod in the audience I will just pretend that this is radio and will envision you all smiling! We will have some time for questions after we finish. We are certainly working the network today-Wade in GA and Ramay in TN Thanks to Wade Adler for his support and interest in the downtown and Main Street Program—the AARC organization is just incredible and I have learned so much by knowing about the organization. reading their information. Ramay Winchester for her continued guidance and information about Retirees and what their interests and wants are—
  • I certainly appreciate the opportunity to speak to you today-this is a lot of fun—I am used to seeing folks smile and nod in the audience I will just pretend that this is radio and will envision you all smiling! We will have some time for questions after we finish. We are certainly working the network today-Wade in GA and Ramay in TN Thanks to Wade Adler for his support and interest in the downtown and Main Street Program—the AARC organization is just incredible and I have learned so much by knowing about the organization. reading their information. Ramay Winchester for her continued guidance and information about Retirees and what their interests and wants are—
  • I certainly appreciate the opportunity to speak to you today-this is a lot of fun—I am used to seeing folks smile and nod in the audience I will just pretend that this is radio and will envision you all smiling! We will have some time for questions after we finish. We are certainly working the network today-Wade in GA and Ramay in TN Thanks to Wade Adler for his support and interest in the downtown and Main Street Program—the AARC organization is just incredible and I have learned so much by knowing about the organization. reading their information. Ramay Winchester for her continued guidance and information about Retirees and what their interests and wants are—
  • I certainly appreciate the opportunity to speak to you today-this is a lot of fun—I am used to seeing folks smile and nod in the audience I will just pretend that this is radio and will envision you all smiling! We will have some time for questions after we finish. We are certainly working the network today-Wade in GA and Ramay in TN Thanks to Wade Adler for his support and interest in the downtown and Main Street Program—the AARC organization is just incredible and I have learned so much by knowing about the organization. reading their information. Ramay Winchester for her continued guidance and information about Retirees and what their interests and wants are—
  • I certainly appreciate the opportunity to speak to you today-this is a lot of fun—I am used to seeing folks smile and nod in the audience I will just pretend that this is radio and will envision you all smiling! We will have some time for questions after we finish. We are certainly working the network today-Wade in GA and Ramay in TN Thanks to Wade Adler for his support and interest in the downtown and Main Street Program—the AARC organization is just incredible and I have learned so much by knowing about the organization. reading their information. Ramay Winchester for her continued guidance and information about Retirees and what their interests and wants are—
  • I certainly appreciate the opportunity to speak to you today-this is a lot of fun—I am used to seeing folks smile and nod in the audience I will just pretend that this is radio and will envision you all smiling! We will have some time for questions after we finish. We are certainly working the network today-Wade in GA and Ramay in TN Thanks to Wade Adler for his support and interest in the downtown and Main Street Program—the AARC organization is just incredible and I have learned so much by knowing about the organization. reading their information. Ramay Winchester for her continued guidance and information about Retirees and what their interests and wants are—
  • I certainly appreciate the opportunity to speak to you today-this is a lot of fun—I am used to seeing folks smile and nod in the audience I will just pretend that this is radio and will envision you all smiling! We will have some time for questions after we finish. We are certainly working the network today-Wade in GA and Ramay in TN Thanks to Wade Adler for his support and interest in the downtown and Main Street Program—the AARC organization is just incredible and I have learned so much by knowing about the organization. reading their information. Ramay Winchester for her continued guidance and information about Retirees and what their interests and wants are—

Transcript

  • 1. 7thAnnual Tennessee Basic EconomicDevelopment CourseReal Estate Developmentand Reuse – Part I:DOWNTOWNDOWNTOWNREVITALIZATIONREVITALIZATIONPresented By: Todd Morgan
  • 2. People ages 65 and older will be the fastestgrowing group in the U.S. through 2050.They are downsizing, want to walk to places,experience arts and culture and use publictransportation.Urban Land InstituteHousing in America – The Baby Boomers turn 65October 2012
  • 3. People ages 17 – 34, the “Millennials”, plan to pickwhere they live first and choose their jobs second.They are primarily renters, want cool, walkablecommunities and enjoy amenities like Wi-Fi in commonareas, dog parks and outdoor “living rooms”.Urban Land InstituteHousing in America – The Baby Boomers turn 65October 2012
  • 4. Cities need to attract talented, creative workers bycreating places where these people want to live.Quality of place…dynamic experiences…REALbuildings, REAL people, REAL historyRichard FloridaThe Rise of the Creative Class
  • 5. The … most important factors that create emotional bondsbetween people and their community [are] not jobs and theeconomy, but rather “physical beauty, opportunities forsocializing and a city’s openness to all people.” …communities with the highest levels of attachment also hadthe highest rates of gross domestic product growth and thestrongest economies.
  • 6. When it comes to 21st century economicdevelopment, a key concept is communitydifferentiation. If you can’t differentiate yourcommunity from any other, you have nocompetitive advantage.Edward T. McMahonUrbanLand 4.4.12
  • 7. The unique characteristics of place maybe the only truly defensible source ofcompetitive advantage for regions.Joe CortrightCity Vitals
  • 8. What do you see in your
  • 9. DDOWNTOWNOWNTOWN
  • 10. Downtown - Main StreetDowntown - Main StreetThe heart of commercial, civic and social lifeThe heart of commercial, civic and social life
  • 11. The Rise of Suburban AmericaThe Rise of Suburban AmericaPost World War II Economic ExpansionPost World War II Economic ExpansionLevittown, NY
  • 12. Downtowns Tried to CompeteDowntowns Tried to CompeteThrough modernization and tear downsThrough modernization and tear downs
  • 13. www.PreservationNation.orgwww.PreservationNation.org
  • 14. National Trust for Historic PreservationNational Trust for Historic PreservationMain Street Pilot Project:Main Street Pilot Project:Galesburg, Ill.; Madison, IN; Hot Springs, SDGalesburg, Ill.; Madison, IN; Hot Springs, SD Identified the problemsIdentified the problems Developed strategies to reverse theDeveloped strategies to reverse themovement away from downtowns;movement away from downtowns;interrupt the cycle of disinvestmentinterrupt the cycle of disinvestment Goal to restore downtown as theGoal to restore downtown as the“heart and soul” of the community“heart and soul” of the community www.MainStreet.orgwww.MainStreet.org19771977
  • 15.  An organized and common-sense way to address theAn organized and common-sense way to address thevariety of issues that face traditional business districts.variety of issues that face traditional business districts.Main Street ProgramMain Street Program™ Economic development within the context of historicEconomic development within the context of historicpreservation developing new ways appropriate to thepreservation developing new ways appropriate to thecurrent marketplace.current marketplace.
  • 16. DesignDesignFour Point ApproachFour Point Approach™EconomicEconomicRestructuringRestructuringOrganizationOrganization PromotionPromotion
  • 17. DesignDesignFour Point ApproachFour Point Approach™SignageSignageStreetscapeStreetscapeCharacter PreservationCharacter PreservationBuilding InventoryBuilding InventoryCleanlinessCleanlinessLandscapingLandscapingWay-findingWay-findingStorefronts/DisplaysStorefronts/Displays
  • 18. Four Point ApproachFour Point Approach™EconomicEconomicRestructuringRestructuringBusiness InventoryBusiness InventoryMarket AnalysisMarket AnalysisIncentivesIncentivesFinancingFinancingSmall BusinessSmall BusinessRetentionRetentionRecruitmentRecruitmentStabilizationStabilization
  • 19. Four Point ApproachFour Point Approach™PromotionPromotionImage MarketingImage MarketingSpecial EventsSpecial EventsRetail PromotionsRetail PromotionsPublicationsPublicationsMedia RelationsMedia RelationsAwardsAwardsRibbon-CuttingsRibbon-CuttingsWebsiteWebsite
  • 20. Four Point ApproachFour Point Approach™OrganizationOrganizationManagementManagementVolunteersVolunteersPartnershipsPartnershipsStatisticsStatisticsMembershipMembershipFundingFundingGrantsGrantsStrategiesStrategies
  • 21. Four Point ApproachFour Point Approach™Leads to Success! Design The commercial district is in top physicalshape – attractive, clean, safe Economic Diverse business climate with mix ofRestructuring uses; market is well understood Promotion The districts unique characteristicsand assets are utilized – good image,high foot-traffic, range of activities Organization Community is in consensus and workingtogether toward a common goal; broad-based support for downtown
  • 22. The Eight PrinciplesThe Eight PrinciplesThat set the Main Street Approach apart:That set the Main Street Approach apart: Comprehensive – No single focus Incremental – 1,000 small steps Self-help – Local leadership Partnership – Public/Private Identifying and Capitalizing on Existing Assets Quality – Not quantity Change – In attitudes and practice Implementation – Visible results
  • 23. Sense of PlaceSense of Place
  • 24. PreservationPreservation
  • 25. RestorationRestoration
  • 26. WalkabilityWalkability
  • 27. Unique ResidentialUnique Residential
  • 28. EntertainmentEntertainment
  • 29. CommunityCommunity
  • 30. Gathering SpotsGathering Spots
  • 31. Event VenuesEvent Venues
  • 32. EntrepreneursEntrepreneurs
  • 33. RetailRetail
  • 34. Farmer’s MarketsFarmer’s Markets
  • 35. Creative EconomyCreative Economy
  • 36. 2012 Reinvestment2012 ReinvestmentPublic/Private Investment DowntownPublic/Private Investment Downtown $55.7 Billion$55.7 BillionNet Gain in BusinessesNet Gain in Businesses 109,664109,664Net Gain in JobsNet Gain in Jobs 473,439473,439Building RehabilitationsBuilding Rehabilitations 236,201236,201Reinvestment Ratio: $18 : $1Reinvestment Ratio: $18 : $1
  • 37. Levels of Main StreetLevels of Main StreetNationalNational The National Main Street Center, a program ofThe National Main Street Center, a program ofthe National Trust for Historic Preservation,the National Trust for Historic Preservation,sets standards for national accreditation andsets standards for national accreditation andserves as a resource for over 2,200 programs.serves as a resource for over 2,200 programs.StateState State coordinating partners monitor localState coordinating partners monitor localprograms, provide technical assistance andprograms, provide technical assistance andtraining, and encourage downtowntraining, and encourage downtownrevitalization strategies.revitalization strategies.LocalLocal Has an organization devoted to downtownHas an organization devoted to downtownmanagement with staff and meets nationalmanagement with staff and meets nationalaccreditationaccreditation standards annually.standards annually.
  • 38. Local Main Street ProgramsLocal Main Street Programs Broad-based community support Relevant mission and vision statements Comprehensive work plan Historic preservation ethic Active board and committees Operating budget Professional staff Program of training for staff/volunteers Report key statistics Member of National Main Street Center
  • 39. Downtown Revitalization in TNDowntown Revitalization in TN
  • 40. Bristol JacksonCleveland Leiper’s ForkCollierville KingsportColumbia LawrenceburgCookeville McMinnvilleDandridge MorristownDayton MurfreesboroDyersburg RogersvilleFayetteville TiptonvilleFranklin SavannahGallatin Union CityGreeneville Ripley2012 Tennessee Main Streets2012 Tennessee Main Streets
  • 41. 2012 Reinvestment Statistics2012 Reinvestment StatisticsNet new jobs - 604Net new businesses - 107Building Rehabilitation projects - 217Public Improvement projects - 304New Construction projects - 25Housing units created - 273Number of volunteer hours - 117,253Private investment in downtown - $ 62,081,591Public investment in downtown - $ 20,661,307Total public/private - $ 82,742,898
  • 42. Tennessee DowntownsTennessee Downtowns▪ “Main Street on training wheels”▪ A competitive process▪ Requires a steering committee▪ Project focus▪ 18 month learning/training program▪ Round 1 – 10 communities▪ Round 2 – 12 communities▪ Round 3 – 6 communities
  • 43. Why Downtown Is Important:Why Downtown Is Important:▪ A symbol of community economic health▪ Reflects local quality of life▪ A symbol of community pride and history▪ Supports local independent businesses▪ Serves as a good small business incubator▪ Can be a tourist destination▪ Important to business/industrial recruitment▪ Rehabilitation stimulates the local economy
  • 44. Why organize a downtownWhy organize a downtownrevitalization effort?revitalization effort?To take control of the changes that are goingto happen and guide them in order to:▪ Develop underutilized spaces▪ Ensure quality infill construction▪ Facilitate building improvements▪ Support existing businesses
  • 45. Why organize a downtownWhy organize a downtownrevitalization effort?revitalization effort?Continued…▪ Recruit new, compatible businesses▪ Enhance public improvements▪ Strengthen marketing▪ Encourage tourism▪ Expand special events and programs▪ Build partnerships and community
  • 46. How to get your community excitedHow to get your community excitedabout downtown revitalizationabout downtown revitalization Organize a meeting and invite everyone to talk about downtown; Start talking about your downtown’s strengths and opportunities; Identify and talk to all community stakeholders - property owners,residents, business owners, and leaders; Visit other communities who have been successful in revitalization; Invite other communities to come to your town and tour; Inventory your downtown businesses; Send out a survey to your local residents - what do they want; Take a walk in downtown - with a camera! Talk to your city and county leaders about the importance on thehealth of downtown for economic development; Check out www.mainstreet.org for great examples of communitiesacross the country who have done it!
  • 47. Main Street Programs areMain Street Programs areDevelopment PartnersDevelopment Partners▪ Market feasibility/studies▪ Understand local codes, ordinances, SID’s,_overlays, design guidelines, TIF districts…▪ Identify/connect with local stakeholders▪ Parking management▪ “Bridging the gap” through incentives, loans…▪ Publicity/public relations
  • 48. Think Like A DeveloperThink Like A Developer What drives development? Who drives development? What barriers exist? What are the intrinsic strengths of thecommunity? What are the overlooked opportunities? What is the community personality? What does the community do well? What tools/resources exist?
  • 49. • “Physical beauty”• “Opportunities for socializing”• “Differentiation”• “Unique characteristics of place”• “Real buildings, real people, real history”• “Walkability”• “Dynamic experiences”Downtown’s provide it!
  • 50. Todd MorganCommunity Development Program DirectorTennessee Main Street CoordinatorTennessee Department of Economic & CommunityDevelopment – Rural Services Division615.532.3595Todd.Morgan@TN.govwww.TennesseeMainStreet.org