The Downtown Lowell Renaissance
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- Everett Oliver
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1 Downtown City of Adam Baacke Assistant City Manager Director of Planning and Development December 5, 2008 Connecticut Main Street Center
2 Industrialization of
3 in the 1970s
4 in the 1970s
5 A New Vision
6 Historic Preservation Projects
7 Historic Preservation Projects
8 Historic Preservation Projects
9 Historic Preservation Projects
10 Historic Preservation Projects
11 Historic Preservation Projects
12 Historic Preservation Projects
13 Tsongas Arena
14 LeLacheur Park
15 Arts & Culture
16 Arts & Culture
17 Festivals
18 Lofts, Studios, and Condos
19 Lofts, Studios, and Condos
20 Lofts, Studios, and Condos
21 Business Development
22 Downtown Planning Downtown Plan Comprehensive Master Plan
23 Regulatory Changes Ayer Lofts required 14 variances 2002 Zoning changed to promote residential reuse of vacant buildings Special Permit Historic Board Approval Minimum unit size Parking
24 Downtown Parking Policy No requirements except for residential 1 space per residential unit All required parking can be leased in public garages municipal garage parking spaces
25 Marketing
26 Key Development Incentives State & Federal Historic preservation tax credits Renewal Community New Markets tax credits Local Predictable & fair permitting Partnership with developers Downtown Venture Fund
27 Current Projects
28 Hamilton Canal District A Development Opportunity The Hamilton Canal District 15 acres of vacant and underutilized land Will transform the gateway to the city into a new mixed-use development Doubles the size of s Downtown Reconnects Downtown to core transportation amenities
29 Hamilton Canal District A Development Opportunity Goals & Objectives Develop an extension of downtown Link the Gallagher Terminal to downtown Create a signature development at the gateway to downtown Develop a mixed-use urban environment Support and encourage pedestrian activity Stimulate an active street presence Capitalize on the historic canals Implement green building and sustainable development practices Increase employment base and tax revenues
30 Hamilton Canal District A Development Opportunity Development Impact 2 million square feet of new mixed-use development Over 350,000 square feet of commercial space new waterfront housing units New courthouse will be a civic monument at the gateway to Downtown $ million in new private investment, a 50 to 1 return on public dollars invested to date In excess of $4 million in gross annual tax receipts at full build-out in ten years (using 2008 dollars, FY08 tax rates) Up to 1000 new permanent jobs Complete transformation of the neighborhood
31 Hamilton Canal District A Development Opportunity Urban Redevelopment Challenges Land Assembly Environmental Issues Public Support Vision vs. Market Realities Permitting Parking Development Economics
32 Hamilton Canal District A Development Opportunity Challenge #1 Land Assembly Issue: adway Assembly of large development sites is complicated by extensive subdivision and property owners unwilling to sell Dutton Hamilton Canal Lower Pawtucket Ca Middlesex Jackson Appleton Hamilton Canal Solution: City assembled 15-acre site
33 Hamilton Canal District A Development Opportunity Challenge #2 Environmental Issues Issue: Real and perceived environmental contamination from historic urban uses Hamilton Canal Solutions: Risk-sharing EPA funding
34 Hamilton Canal District A Development Opportunity Challenge #3 Public Support Issue: Public opposition can delay, undermine, and prevent redevelopment projects Hamilton Canal Solutions: Public planning process
35 Hamilton Canal District A Development Opportunity Challenge #4 Vision vs. Market Issue: Exciting visions and master plans do not always reflect market realities Hamilton Canal Solutions: Public/private partnership
36 Hamilton Canal District A Development Opportunity Challenge #5 Permitting Issue: Uncertain timelines and outcomes of traditional permitting process creates significant risk Hamilton Canal Solutions: Master plan Form-based code
37 Hamilton Canal District A Development Opportunity Challenge #6 Parking Issue: Markets do not support costs of constructing parking to meet demand outside of Boston/Cambridge Hamilton Canal Solutions: Public parking structures Transit access
38 Hamilton Canal District A Development Opportunity Challenge #7 Economics Issue: Development costs exceed market rents and sale prices Hamilton Canal Solutions: Density Additional Statewide Solutions: Tax credits Infrastructure subsidy Growth management
39 Hamilton Canal District A Development Opportunity The Hamilton Canal District
40
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