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What's your State of Place? Boosting the triple bottom line + through walkability!

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What's your State of Place? Boosting the triple bottom line + through walkability!

  1. 1. Walking toward sustainable changeHow  State  of  Place  can  influence  placemaking  decisions,  enhance   walkability,  and  maximize  the  triple  bo>om  line Mariela Alfonzo, Ph.D. Founder, State of Place President, Urban Imprint Research Fellow/Adjunct Professor, NYU-Poly www.urbanimprint.com/state-of-place
  2. 2. Why Walkability?Triple. Bottom. Line. +
  3. 3. It’s about how we live“Weh-­‐‑che-­‐‑steh,”  Miami:  My  hometown…and  my   motivation  to  #getwalkable!
  4. 4. It’s about our health…
  5. 5. Yes, behavior important…
  6. 6. But so is Built Environment
  7. 7. It’s about our planet’s health VMT in the US, Mode Split in the US, 1971-2012 1960-2010
  8. 8. And now it’s about our economic health Residenal  values  more  stable  in  walkable  neighborhoods   Have  experienced  less  than  half  the  average  decline  in  value  from   the  housing  peak  A  10pt  increase  in  Walk  Score  linked  to  5-­‐8%  increase  in  commercial   values     A  1pt  increase  in  Walk  Score  linked  to  $700-­‐$3000  for-­‐sale   residenal  premiums      Urban  mixed-­‐use  developments  generate  25-­‐59x  revenue/acre  than   suburban  counterparts   Avg.  operang  cost  /yr.,  Bike:  $308     Avg.  operang  cost/yr.  Car:  $8,220   1%  rise  in  urban  sprawl  index  increases  obesity  risk  by  0.5%   In  2008,  medical  $$  to  treat  obesity  in  US,  approx.  $147B  
  9. 9. Design matters…. Individual Factors (Walking)  
  10. 10. Exchange! Image! Use! Urban   Design  Cultural! Environmental! Social! See CABE
  11. 11. Use!Image! Environmental! Exchange   Cultural! Social!
  12. 12. to value generation…. Individual Factors E.g.,     Guggenheim   Effect   E.g.,     Retail   E.g.   Sales   Walking  
  13. 13. Walkability drivingplace consumption…
  14. 14. The Power of PLACE“Places” have become productsTheir “sellers” compete with each other for resources Educated residents Talent Businesses InvestmentAmericans are choosing which locations to “consume”based on place quality walkability is an important “driver”…
  15. 15. But…shortage of walkability?Public policy hurdles +Legal issues +NIMBYism +Lack of benchmarks and metrics= More difficult to finance/underwrite/create/deliver Lack effective, cost efficient methods that demystify the process of identifying, differentiating, and creating the quality places people want
  16. 16. BUT…in this stiff competitive place “market” AND in light of sustainability benefits, walkability is no longer an “intangible luxury”
  17. 17. Why State of Place™ ?¤  Art  à  Science:  Quantifying  walkability ¤  Comprehensive,  Objective,  Reliable ¤  Captures  “Micro-­‐‑scale”  &  “Sensory”  features ¤  Diagnostic,  Empirically-­‐‑Based ¤  Ties  Place  Quality,  Economic  Impact ¤  Facilitates  Evidence-­‐‑based  decision  making,  Accountability ¤  Provides  empirically-­‐‑based  ROI  predictions,  Customizable
  18. 18. Comprehensive. Reliable. Micro-scale.
  19. 19. Measuring Walkability: The IrvineMinnesota InventoryUses street-level built environment dataCollected using the Irvine Minnesota Inventory (IMI 2.0)250+ micro-scale features•  Sidewalk presence, street trees, street benches, parks, street facades, land uses, etc.Reliable, used widely in research
  20. 20. Measuring Walkability:The Irvine Minnesota InventoryRaters receive full day training; tested for accuracy/reliabilityData can be collected for sample of blocks in a neighborhood or on aselect number of blocks•  10-12 min/block•  Avg. 40-50 blocks/neighborhoodNeighborhood defined based on existing boundaries
  21. 21. Diagnostic. Empirically-based.
  22. 22. State of Place™ :The IMI Scoring AlgorithmDimensions Description/Example ItemsDensity Measure of enclosure based on building concentrations and heightProximity Presence of non-residential land usesConnectivity Measure of disconnectivty; Potential Barriers (e.g., six-lane roads)Form Measure of streetscape discontinuity (e.g. drive- thrus)Parks and Public Space Parks, Playgrounds, Plazas, Playing FieldsPedestrian Infrastructure/ Curbcuts, Sidewalks, Street Furniture, Bike RacksAmenitiesPersonal Safety Graffiti, Litter, Windows with BarsTraffic Measures Traffic Signals, Speed Limit, Traffic CalmingAesthetics (Pleasurability & Attractiveness, Open Views, Outdoor Dining,Maintenance) MaintenancePhysical Activity Facilities Gym/Fitness Facilities, Other Recreational Uses
  23. 23. Density
  24. 24. Form
  25. 25. Connectivity
  26. 26. Proximity
  27. 27. Parks & Public Space
  28. 28. Pedestrian Infrastructure & Amenities
  29. 29. Personal Safety
  30. 30. Traffic Safety
  31. 31. Aesthetics
  32. 32. Physical Activity Facilities
  33. 33. State of Place™ Diagnosis 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Density Form Proximity Connectivity Parks  &  Public  Space Pedestrian  Amenities Safety  from  Crime Traffic  Safety Aesthetics Physical  Activity  Facilities
  34. 34. Density Dimensions - Assets State of Place™PedestrianAmenitiesFormTraffic Safety
  35. 35. State of Place™ Dimensions – Need improvementConnectivity Aesthetics Safety
  36. 36. Place Quality. Economic Impact.
  37. 37. State of Place™Built Environment tied to Economic Value Correlated Economic Performance + $9 sf office rents + $7 sf retail rents +80% retail revenues + $300/unit res. rent +81 sf for-sale res. value From Brookings Institution report, “Walk this Way”
  38. 38. Walkability = Economic IndicatorCan quantify the value of place….The State of Place™ index is linked topremiums of up to:+74% residential rents/unit+$1200/unit residential rent+108% office rents+84% retail rents+23% premium valuation beforerecession;+44% premium postFor DC, this translates into up to:+$744 mill in residential property taxes/neighborhood+$96 mill in retail taxes generated/neighborhood
  39. 39. Effective. Decision-making.
  40. 40. what is State of Place™?Like a credit rating for neighborhoods; Helps guideinvestment & underwriting; Aids branding; Siting *Risk averse investors; Steady ROI *Regional retailer siting *Risk tolerant investors; Higher ROI *Aggressive developer enters market *Target for social equity advocates
  41. 41. ROI Predictions.Customize. Prioritize. Maximize.
  42. 42. State of Place™ & ROI !"#"$%&(%)* !"# $!"# %!"# &!"# !"# (!"# )!"# *!"# +!"# ,!"# $!!"# -./0# 1234#Very Good ROI 5246# 7214# 6/5-# Good ROI 7/.8# 75/94# :.33# 45-2# Fair ROI 75-#
  43. 43. !"#"$%&(%)* !"# $!"# %!"# &!"# !"# (!"# )!"# *!"# +!"# ,!"# $!!"# -./0# VeryGood 1234# ROI 5246# 7214# 6/5-#Good 7/.8# ROI 75/94# :.33# Fair 45-2# ROI 75-# State of Place™ Assess current performance Predict ROI Balance Costs, Benefits
  44. 44. Intervention Sidewalk Façade Options improvements improvements Project Costs $500,000.00 $250,000.00Scenario Analysis SoP Dimension Ped Amenities Aesthetics Current 50% 25% Performance Impact Factor 8 5 Predicted SoP Performance 10% 15% Increase Walkability High Medium Impact Baseline Indicator Office Rents $25 Predicted $8/sf office $4/sf office Economic Upside
  45. 45. Can Prioritize Planned Interventions¤  Add grid of streets !"#"$%&(%)* !"# $!"# %!"# &!"# !"# (!"# )!"# *!"# +!"# ,!"# $!!"#¤  Add Commercial FORM -./0# office, retail, housing 1234# (as market bears) DENS 5246# 7214# 6/5-# 7/.8#¤  Add infill Metrorail 75/94# station PROX :.33# 45-2# CONN 75-#¤  Add BRT Transit Line
  46. 46. Can Prioritize Planned Interventions¤  Add sidewalks, buffers !"#"$%&(%)* !"# $!"# %!"# &!"# !"# (!"# )!"# *!"# +!"# ,!"# $!!"#¤  Add street furniture -./0# PEDS 1234#¤  Add plaza, public space 5246# 7214# TRAF 6/5-#¤  Streetscape 7/.8# improvements AEST 75/94# :.33# 45-2#¤  Traffic calming 75-#
  47. 47. Metropolitan Washington Council of Governments, DC Metro .)%(/#0()# 12,) !"#$%$#& ()#(* +#*,#(-$" Region !"# $#%&( )*+,*- ./01#/#(2,2&( !1!"#$%& !(")%"* ¤  Diagnosis 95 neighborhoods in the+%%",)- .#//,%% !"#$%& ()&*#++ ,%%)-. !"#$%& 0%(/ region /%5%60%"7 / 0 12 3412 ¤  Creating place profiles – based on assets and areas in need of improvement ¤  Informing Strategic Investment Plan for region
  48. 48. Conservation Law FoundationVentures, Boston, MA¤  Creating Healthy Neighborhood Equity Fund¤  Piloting State of Place as project & neighborhood screening tool¤  Creating estimated State of Place scores based on proposed projects ¤  Calculating potential upside
  49. 49. State of Place™ current & future “imprint”…¤  Applicable across urban, suburban, & rural communities ¤  IMI data has been collected in California, Minneapolis, Houston, Iowa, North Carolina RT, Denver, Salt Lake City, Kansas, Arkansas, Michigan, Illinois…¤  Roll out State of Place in other metros ¤  San Francisco/Bay area – Spring 2013 ¤  Houston, Phoenix, Seattle, Los Angeles¤  Incorporating a broader set of economic indicators ¤  Preservation Green Lab ¤  E.g. Job creation, retention, firm recruitment¤  App – available soon!¤  Partnering with universities¤  Working with underprivileged community ¤  Brownsville + NYU-Poly¤  China – in progress!
  50. 50. Let’s boost your State of Place™ !
  51. 51. What’s your State of Place™ ? www.urbanimprint.com/state-of-place

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