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Financing Smart Growth

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DC streetcar tracks

Great smart growth developments start with a vision and good planning, but to build the actual project local governments, real estate developers and community members must secure the necessary capital funding. Innovative ways to finance smart growth projects was one of the main topics discussed at the June 2014 LOCUS Leadership Summit in Washington, DC where members of Smart Growth America’s Local Leaders Council and the LOCUS developers’ network met to talk about what it takes to bring a smart growth vision into reality.

Ben Miller, cofounder of Fundrise, believes that the real estate investment system is set up for very large investors and makes it nearly impossible for smaller investors to support local projects. “What if we squared the circle and let the community become both a capital resource and a partner in our real estate projects, so they would have some skin in the game?” posits Miller.

Local Leaders Council Uncategorized

Join our team of Complete Streets expert instructors

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Fairbanks wkspRyan Snyder facilitates discussion at a Complete Streets workshop in Fairbanks, Alaska.

Our Complete Streets workshop program is in high-demand, working with communities from Maine to Hawaii on the policy and process tools needed to create streets that are not just safe bur welcoming for all modes of travel and for people of all ages and abilities.

In cooperation with the Association of Pedestrian and Bicycle Professionals (APBP), we will train an additional 5 to 7 nationally recognized professionals to join our instructors corps. Two instructors co-teach each of our full-day, highly interactive workshops, one person an expert in engineering and design and the other in policy and planning. They contract directly with APBP or SGA and are paid a flat fee for preparation, instruction, and travel.

Complete Streets

City Councilor Tim Lovain on promoting transit-oriented development in Alexandria, VA

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King Street metro station

In a few weeks, Northern Virginia’s first bus rapid transit service will begin operations on dedicated busways through Alexandria, VA’s burgeoning Potomac Yard neighborhood. A visitor standing under one of the new station awnings can see a string of cranes stretching from north to south along US Route 1, at work on the planned 3000 residential units, 4 million square feet of office space, and 1 million square feet of retail space along the transit corridor. Alexandria City Councilor Tim Lovain, who championed the busway as an essential tool to support high-density growth in this corridor, smiles broadly as he describes the accomplishment, but is even more interested in the transit lines still under development in the city.

Many of these transit projects are included in the Transportation Master Plan Councilor Lovain helped adopt in 2008 during his first term on the Council. In addition to the Route 1 corridor, that plan identified two more high-priority corridors where bus rapid transit will be developed in anticipation of future streetcar lines. Both of those corridors are in the City’s newer West End, which is characterized by car-oriented, lower density development. West End neighborhoods are more difficult to serve with transit, but Councilor Lovain makes the case for it as an essential tool for economic survival in the transit-rich metropolitan Washington, DC region.

Local Leaders Council Uncategorized

Inside Foot Traffic Ahead: sub-urban places and the future of walkability  

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Belmar-festivalFestival Italiano in walkable sub-urban Belmar, Denver, CO. Photo via Flickr.

Walkable real estate is in high demand in America’s large metros, and tomorrow’s most successful cities will be the ones that capture that market—but the walkable places they build may not look like today’s downtowns.

In Foot Traffic Ahead, our June report co-released by our LOCUS coalition and the Center for Real Estate and Urban Analysis at the George Washington University School of Business, we ranked America’s largest metropolitan areas based on their projected future growth in development of walkable places. That list of nascent future walkable real estate hot spots included surprise contenders like Atlanta, Denver, and Los Angeles—far from the usual suspects for such rankings. Meanwhile, some famously walkable cities like Portland, Pittsburg, and Baltimore were projected to fall behind.

The difference owes to walkable sub-urban places, an unconventional category that includes both historic town-center type suburbs and modern transit-oriented developments. In our highest-projected metro areas—from Washington, DC to Atlanta, GA—a large percent of new growth is expected to take the walkable sub-urban form.

LOCUS

New York tours offer look at urban manufacturing’s revival

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Urban small-scale manufacturers at work. Photo by Nicolas Lemery Nantel for OHNY.

In today’s American economy, where so much is imported from other countries, American cities are rediscovering their manufacturing roots. Industry shakeups and the economic downturn demonstrate the vulnerability of cities that rely on single-industry manufacturing sectors like steel and automobiles. But while large-scale industries suffer from lack of resilience, small-scale manufacturing is creeping back into our cities and strengthening our local economies.

Today, though the manufacturing sector makes up just 12% of US GDP, the sector has grown at roughly twice the pace of the country’s overall economic growth since the end of the recession. Manufacturing provides high-wage, low-barrier to entry jobs with the average manufacturing salary roughly $10,000 more than the average U.S. job. Between 2010 and 2012, manufacturing jobs grew by over 400,000—many of them in small businesses. The opportunity for local job growth is great.

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Senate, House tangle over highway funding cliff

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In the past week, with just days left before the Highway Trust Fund runs dry, both the Senate and the House of Representatives passed short-term measures that would keep the fund solvent through the end of this year.

While both plans are essentially short-term patches for a long-term problem—meeting America’s growing infrastructure needs with funding from a gas tax that hasn’t risen since 1993—the Senate version, passed Tuesday, is a big step in the right direction.

Gone are the pension-smoothing and accounting gimmicks, included in the House’s earlier version of the bill, that Senator Bob Corker (R-TN) called “generational theft.” Furthermore, rather than delay the Trust Fund’s insolvency to May of 2015, the new proposal only runs through the end of this year, forcing Congress to confront a long-term solution sooner.

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Creating revitalization in slow markets

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Small town main street

In communities where the market is slow, attracting developers and investors can be a tough challenge. A slow market can have many causes such as an economic downturn, a geographic disadvantage or a weak competitive edge within the region. Local leaders of small towns from states like Mississippi, Louisiana, Iowa, Maryland and California discussed the issues that impact attracting growth and development in a weak market during a session titled “Creating revitalization in slow growth markets” at the June 2014 Local Leaders Policy Forum in Washington, DC.

“Slow growth is relative to the market,” remarked Mayor Andrew Fellows of College Park, MD, and other leaders agreed. Mayor Ruth Randleman of Carlisle, IA pointed to other communities in the immediate Des Moines metropolitan region as their major competition. Former Mayor John Robert Smith of Meridian, MS suggested that sister cities in the greater geographic region and neighboring states were their biggest competition. “Our problem was that we were trying to be Gulfport of Biloxi, when we didn’t realize that we had strengths of our own,” said Smith.

Local Leaders Council

Mayor Stodola on neighborhood revitalization through historic restoration

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Downtown Little Rock, AR

For Mayor Mark Stodola, revitalization in Little Rock, AK began with his own home. He renovated his 1868 Victorian home, then moved to a Craftsman 4-plex, which he restored before moving and repeating the process again. He has restored six houses in historic neighborhoods across the City and watched their value increase. As Mayor, Stodala has taken restoration and reuse to a neighborhood-wide scale to generate activity and value in once-neglected neighborhoods.

Founded in 1821, Little Rock has great historic assets including the original state house and housing stock dating back to the 1840s. Stodala, explains that “Urban renewal wiped out a lot, unfortunately.” However, several adjoining core neighborhoods were preserved as historic districts. “Their distinctiveness was what saved these neighborhoods,” he contends.

Local Leaders Council

Local leaders share strategies for revitalizing underserved neighborhoods

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East Baltimore

How does a community pursue smart growth in underserved neighborhoods where infrastructure problems, concentration of poverty and concerns about gentrification and displacement abound? Two-dozen leaders from diverse communities discussed this very question during the Local Leaders Policy Forum, held on June 16th in Washington, D.C.

Mayor Jacqueline Goodall of Forest Heights, MD shared her experience from living in several different cities over the years. “Gentrification and displacement are real, not perceived, concerns,” said Goodall. “Lower income and minority families can be very vulnerable to neighborhood changes that drive up costs even moderately. As leaders, we cannot overlook that threat.”

Local Leaders Council
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