Downtown Owensboro Placemaking Initiative
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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

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 Downtown Owensboro Placemaking Initiative Presentation Transcript

  • ECONOMIC DEVELOPMENT AND PLACEMAKING
  • TECHNOLOGY AND GLOBALIZATION HAVE CHANGED EVERYTHING!
    • Industrial era based on attracting capital investment in production of goods-- factories.
    • Attracting capital and lowering the cost of doing business are no longer enough to ensure long-term economic growth.
    • Owensboro unprepared for changes taking place with the shifting economy
    View slide
  • WORKFORCE, WORKFORCE, WORKFORCE
    • A Federal Reserve Bank Study analyzed economic growth over 75 year period.
      • Attracting and retaining a skilled workforce is top predictor of economic growth is cities, regions, and states
    View slide
    • Declining Workforce Population
      • Companies and communities competing for talent
      • Fewer young people
    • To grow and prosper in the future communities and regions must focus on
      • EDUCATION
      • QUALITY OF PLACE
  • LIVABILITY AND PLACE ARE KEY!
    • Develop Place-Based Assets to make communities more attractive to people
      • Attractive, inviting communities have a better chance of attracting commerce
      • Visual character and amenities are essential to long-term economic vitality
    • A public-private initiative
    • Building on prior public input and visioning
    • Market-based and community driven
    • Building on community heritage
    • Building-scale design in context of neighborhoods
    • Leveraging community assets
    • Implementing a public package of catalytic investments to attract private investment
    APPROACH AND OUTCOMES
  • The starting point- the cultural arts, festivals and education , the heart of downtown
  • The new Smothers Park, a key opportunity on which to build
  • ILLUSTRATIVE MASTER PLAN AND CATALYST PACKAGE
  • Illustrative Master Plan
  • Veterans Boulevard A
  • Market Square Public Plaza B
  • Waterfront Before
  • Market Square and Waterfront After
  • DOWNTOWN NEIGHBORHOODS
  • DOWNTOWN HOUSING PRIORITY AREAS Waterfront Park Historic Core East Downtown Arts & Cultural District Residential infill
  • Downtown Owensboro Transportation Plan Streets as the greatest public space and gathering place Image courtesy of Urban Advantage
  • Veterans Boulevard (Special Pedestrian Priority Street) A
  • IMPLEMENTATION AND FINANCING
    • Approximately 300 to 500 residential units
    • 350,000 sq. ft. of office space
    • 137,000 sq. ft. of retail/restaurants
    • 225 - 250 hotel rooms
    Summary of Initial Market Demand
  • 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
    • Fund catalyst project package
    • Establish downtown
    • housing funding mechanisms
    • Provide for next steps
    • engineering and planning
    • Anticipate maintenance
    • funding needs
    • Secure town architect and
    • other staffing needs
    • Revise ordinances to
    • implement vision
    • Reform governance
    • system to realize results
    Waterfront and Market Square Plaza Successful Implementation