Stars Align for Downtown Revitalization Effort
by Aaron London
While “ location , location , location ” is the mantra in
real estate , the watchword for Daytona Beach ’ s plans to revitalize its downtown might just be “ timing is everything .” And despite the global coronavirus pandemic , this may be the perfect time for downtown redevelopment .
“ Downtown revitalization has been a major development trend ,” said Christopher Leinberger , co-founding partner and managing director of Places Platform LLC and former chairman of the Center for Real Estate and Urban Analysis at George Washington University School of Business .
In fact , Leinberger said the end of the pandemic
Christopher Leinberger could give Daytona Beach ’ s downtown plans “ another shot in the arm .”
Leinberger has been studying urban development for many years and in 2005 wrote a paper for the Brookings Institution on downtown revitalization . In the report he outlined 12 steps communities need to take for successful downtown projects , including capturing the vision , developing a strategic plan , forging a healthy private public partnership , creating a development agency and several steps designed to bring entertainment and residential growth to the area .
Communities across the country have implemented successful downtown revitalization projects , ranging from the Beltline project in Atlanta ' s parks , pedestrian-friendly trails and more , to projects in San Diego , Houston , Louisville , KY , Portland , OR and Washington , D . C .
Daytona Beach ’ s downtown efforts include the Riverfront Esplanade Park Project , streetscaping on Beach Street and the opening of Brown and Brown ’ s new world headquarters . Leinberger said all of those efforts are positive signs for success . With the park as a centerpiece of the revitalization effort , Leinberger said that can act as a catalyst to attract more people to the downtown .
“ More activity attracts more people which increases rents and property values , creating more business opportunity which means
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