Knowledge Center
Economic Development
A primary objective for place managers is fostering a healthy, sustainable, diverse and prosperous economy for the managed place. The place manager collaborates and works closely with various levels of local and regional economic development organizations, developers, real estate brokers, private firms, philanthropic foundations, destination management organizations, non-profits, and state and federal government agencies, while representing the specific and unique needs, challenges and trends of the managed place.
Additionally, the place manager will work to recruit and retain businesses, conduct market research, encourage a strong local workforce, maintain a diverse mix of commercial and residential development, and facilitate a built environment that is accessible for all users to live, work, play, visit and invest.
Downtown Denver Economic Trend Report
This sample economic development trend report summarizes key economic benchmarks such as employment growth and commercial real estate trends.
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Downtown Houston Market Research Summary: Attracting Residents
This sample research report was conducted to help The Houston Downtown Management District develop a “lifestyle profile” for downtown Houston. Through surveys of downtown workers and residents in downtown adjacent neighborhoods HDMD aimed to determine: 1. what was missing from downtown 2. which unique features of downtown are currently most important and 3. what would be most attractive to target audiences.
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The Changing Face of Economic Development: Land Use, Sustainability, and Housing
Millennial demographics, internet-fueled lifestyles, and a sharing economy (rides, workplace) alter land use and tax generation priorities for cities. Retail is no longer just about retail, with “place,” authenticity, and “trips,” becoming the defining components of a successful town center. Concurrently, the state is driving cities to change land use processes based on climate control and affordable housing mandates, while providing development incentives through new incentives and
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Sharing Revenues and Increasing Tourism
After years of discussion between local property owners, the City and the DCCP, a permanent stage was created. The stage is a result of a cost-sharing agreement between the City of Chandler and the DCCP. The City of Chandler’s maximum contribution was $250,000 for the project, and the DCCP’s contribution was $100,000. The DCCP’s contribution will be paid back to the City over a five-year period. The City will pay 25 percent of all stage rental fees to the DCCP for a period of 10 years.
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Public-Private Land Acquisition Strategies
Land acquisition costs often make or break residential development projects. Therefore, creative strategies that combine private and public funds to acquire targeted properties can help achieve a community’s redevelopment goals, while adding critical housing stock. Oftentimes, urban place management organizations have a unique position that can connect landowners, developers and agencies with access to funding to make these projects work.
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Loan & Tax Abatement Program
Through its Development Loan program, Memphis’s Center City Development Corporation offers a low-interest loan product designed to support smaller commercial developments. It offers a low-interest loan of up to $200,000 for permanent building renovations and new construction within the Central Business Improvement District. The product is not a construction loan; rather, it is permanent financing that can be used to take out a construction loan.
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Housing Attainability in Downtown Portland
In recent years, housing costs in Portland have been rising as the city becomes increasingly attractive within the State of Maine and as compared to other regions nationally. There has been little development of new housing affordable to current Portland residents and very little construction of new housing at all between 2007 and 2014. To address the issues of housing availability and affordability the City of Portland adopted a host of strategic policies and initiatives.
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Paw-Pup Dog Park
The Thelda Williams Paw-Pup Dog Park is a temporary activation in downtown Phoenix, created using a license agreement between the Downtown Phoenix Partnership and the City of Phoenix.
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Supporting the Growth of Technology Companies
The DC government has made the growth and attraction of technology companies a top economic development priority. To encourage existing companies to grow and stay in the District, and to attract new companies, the City developed the Qualified High Technology Companies (QHTC) incentive program.
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Developing a Retail Strategy
All downtowns are dealing with the changing world of retail and developing strategies for retention and attraction. Learn from Cherry Creek North, Downtown Memphis and Downtown OKC, three very distinct downtowns, as they discuss their respective approaches for filling vacant spaces and retaining and attracting retailers.
We’d love for you to see this member-only resource to help make a difference in your district. Make sure you are logged in or join IDA to learn more about how members get sh*t done!
