Workhorse
Footballguy
Interesting. Thanks for the perspective. There is a large parcel of land (77 acres) being sold in my town by the United Methodist Church (link: http://atlanta.curbed.com/2017/1/19/14320734/decatur-property-sale-united-methodist-childrens-home) that will eventually be developed by someone. A "district" would be an interesting idea but would potentially create several other problems such as traffic, as well as the challenge of trying to capture at least some of existing architecture and character of the neighborhood. Would love to know more detail about this concept. Any reading you might recommend?There is no one prescriptive answer, but my recommendation is think big... comprehensive and large scale development can tackle more global (neighborhood wide) issues than ad hoc one building at a time development.
For one, the profit and tax revenue pie is bigger. Second, by planning and developing an entire district, you can then build in affordable units in each building, eliminating the creation of "ghettos" of concentrated poverty... it then provides more cultural and economic access to those of lesser means as well. In addition, if you are doing a wider scale development, a piece of each building's profit (public and private sector) can be shaved off to build amenities, parks, infrastructure (sewer, roads, train platforms) which in turn create far more value than the cost of investing in the real estate itself. This process is called "value capture" and is representative of the specific exercise / strategic consulting gig I am involved with on the Chapel Hill to Durham light rail line... finding ways for development to (1) help pay for the transit line itself (2) help pay for associated local infrastructure such as platforms, parking structures, walking and biking trails and (3) provide mechanisms to create more affordable housing.
Ideally, by using future profits to finance investments today, you then create a more socially integrated and equitable environment that results in a virtuous cycle of economic growth, less crime (though better placemaking along with provision of better housing and creation of economic opportunity) and overall improvement to quality of life across economic and social lines.
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