Redevelopment Plans and Strategies

It has become increasingly difficult for many cities and older suburban communities to remain economically viable as their population and businesses have migrated to other parts of their region. Land, buildings and infrastructure have been “left behind” creating a strain on revenues and the services these revenues can provide. However, a number of forces are at work to create renewed interest in cities and older suburban areas – demographic changes favoring mixed use environments, growing recognition of the need for smart growth and sustainability principles, and a realization by households and businesses that the costs of transportation, added utility lines, and under-used land can be dramatically reduced.

Revitalizing or redeveloping underutilized or vacant portions of previously urbanized areas requires a comprehensive perspective, which Development Strategies interdisciplinary staff is uniquely qualified to provide. It requires an understanding of the market and economic forces at play or that can be recreated, an understanding of the goals of the private and public sectors needed to create a “win-win” result for all parties, an understanding of the required financial returns and, at times, a calibrating of “gap financing” (TIFs, CIDs, TDDs, historic tax credits, New Market tax credits, and others) needed to make a redevelopment plan feasible, which the public sector is capable and willing to provide. Development Strategies researches and analyzes these development forces to identify the value of public sector partnerships than can lead to private sector sustainability.