Downtown Owensboro Placemaking Initiative

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Owensboro is in the middle of a renaissance with a $120 million investment to create a walkable mixed use urban center

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  • Downtown Owensboro Placemaking Initiative

    1. 1. ECONOMIC DEVELOPMENT AND PLACEMAKING
    2. 2. TECHNOLOGY AND GLOBALIZATION HAVE CHANGED EVERYTHING! <ul><li>Industrial era based on attracting capital investment in production of goods-- factories. </li></ul>
    3. 3. <ul><li>Attracting capital and lowering the cost of doing business are no longer enough to ensure long-term economic growth. </li></ul><ul><li>Owensboro unprepared for changes taking place with the shifting economy </li></ul>
    4. 4. WORKFORCE, WORKFORCE, WORKFORCE <ul><li>A Federal Reserve Bank Study analyzed economic growth over 75 year period. </li></ul><ul><ul><li>Attracting and retaining a skilled workforce is top predictor of economic growth is cities, regions, and states </li></ul></ul>
    5. 5. <ul><li>Declining Workforce Population </li></ul><ul><ul><li>Companies and communities competing for talent </li></ul></ul><ul><ul><li>Fewer young people </li></ul></ul>
    6. 6. <ul><li>To grow and prosper in the future communities and regions must focus on </li></ul><ul><ul><li>EDUCATION </li></ul></ul><ul><ul><li>QUALITY OF PLACE </li></ul></ul>
    7. 7. LIVABILITY AND PLACE ARE KEY! <ul><li>Develop Place-Based Assets to make communities more attractive to people </li></ul><ul><ul><li>Attractive, inviting communities have a better chance of attracting commerce </li></ul></ul><ul><ul><li>Visual character and amenities are essential to long-term economic vitality </li></ul></ul>
    8. 8. <ul><li>A public-private initiative </li></ul><ul><li>Building on prior public input and visioning </li></ul><ul><li>Market-based and community driven </li></ul><ul><li>Building on community heritage </li></ul><ul><li>Building-scale design in context of neighborhoods </li></ul><ul><li>Leveraging community assets </li></ul><ul><li>Implementing a public package of catalytic investments to attract private investment </li></ul>APPROACH AND OUTCOMES
    9. 9. The starting point- the cultural arts, festivals and education , the heart of downtown
    10. 10. The new Smothers Park, a key opportunity on which to build
    11. 11. ILLUSTRATIVE MASTER PLAN AND CATALYST PACKAGE
    12. 12. Illustrative Master Plan
    13. 13. Veterans Boulevard A
    14. 14. Market Square Public Plaza B
    15. 15. Waterfront Before
    16. 16. Market Square and Waterfront After
    17. 17. DOWNTOWN NEIGHBORHOODS
    18. 18. DOWNTOWN HOUSING PRIORITY AREAS Waterfront Park Historic Core East Downtown Arts & Cultural District Residential infill
    19. 19. Downtown Owensboro Transportation Plan Streets as the greatest public space and gathering place Image courtesy of Urban Advantage
    20. 20. Veterans Boulevard (Special Pedestrian Priority Street) A
    21. 21. IMPLEMENTATION AND FINANCING
    22. 22. <ul><li>Approximately 300 to 500 residential units </li></ul><ul><li>350,000 sq. ft. of office space </li></ul><ul><li>137,000 sq. ft. of retail/restaurants </li></ul><ul><li>225 - 250 hotel rooms </li></ul>Summary of Initial Market Demand
    23. 23. Package of Catalyst Projects A C B D F F G H Project Cost ($2008) “ Finish-Out” of Smothers Park $15.0 million Market Square Public Plaza $4.8 million Street Improvements (not including streetcar on Frederica) $12.9 million Multi-Purpose Indoor Facility ($350 per SF gross area) $21.0 million Parking Garage ($15K per space) $7.5 million Arts Academy $5.0 million Sub-Total $66.2 million 20% Contingency $13.2 million TOTAL $79.4 million
    24. 24. <ul><li>Fund catalyst project package </li></ul><ul><li>Establish downtown </li></ul><ul><li>housing funding mechanisms </li></ul><ul><li>Provide for next steps </li></ul><ul><li>engineering and planning </li></ul><ul><li>Anticipate maintenance </li></ul><ul><li>funding needs </li></ul><ul><li>Secure town architect and </li></ul><ul><li>other staffing needs </li></ul><ul><li>Revise ordinances to </li></ul><ul><li>implement vision </li></ul><ul><li>Reform governance </li></ul><ul><li>system to realize results </li></ul>Waterfront and Market Square Plaza Successful Implementation

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