TABLE OF CONTENTS
NEW YORK AVENUE CORRIDOR STRATEGY
TABLE OF CONTENTS
1. INTRODUCTION.......................................... 1
PROJECT BACKGROUND...................................... 1 STUDY AREA........................................................... 1 PURPOSE AND OBJECTIVES................................. 3 VISION PROCESS................................................... 3
2. PHYSICAL CONDITIONS............................ 7
EXISTING LAND USE.............................................. 7 EXISTING ZONING.................................................. 7 EXISTING PARCEL SIZE....................................... 10 EXISTING STRUCTURES...................................... 10 EXISTING STREETS.............................................. 14 EXISTING BICYCLE / PEDESTRIAN ACCESS......................................... 14 PROPERTY OWNERSHIP GEOGRAPHY......................................................... 16 PROPERTY SALES DATE..................................... 16 PROPERTY UTILIZATION...................................... 16 CONCLUSION........................................................ 20
3. MARKET CONDITIONS............................. 21
LEVELS OF GEOGRAPHY.................................... 21
• TRADE AREA................................................... 21 ECONOMIC AND DEMOGRAPHIC INDICATORS.......................................................... 23 PSYCHOGRAPHIC PROFILE................................ 36 DEVELOPMENT CLIMATE..................................... 37
• DEVELOPMENT TRENDS................................ 37
• REAL ESTATE OPPORTUNITIES..................... 37
MARKET DEMAND................................................ 38
• RESIDENTIAL DEMAND.................................... 38
• ATTACHED OWNERSHIP.................................. 38
• RENTAL.............................................................. 38
• RETAIL / RESTAURANT / SERVICE DEMAND..... 38 OFFICE DEMAND.................................................. 41 INDUSTRIAL DEMAND.......................................... 41 DEMAND SUMMARY............................................. 41 DEMAND IMPLICATIONS...................................... 41
• RESIDENTIAL.................................................... 41
• RETAIL................................................................ 43
• OFFICE / INDUSTRIAL...................................... 43 iv
FINAL REPORT | SEPTEMBER 2013
4. COMMUNITY DESIRES............................. 45
CORRIDOR CHARACTER..................................... 45 BUSINESS ACTIVITIES- 2020.............................. 47 CONNECTIONS..................................................... 49 PHYSICAL AMENITIES.......................................... 49
5. VISION....................................................... 51
LANDUSE FRAMEWORK...................................... 51 TRANSPORTATION FRAMEWORK....................... 55 URBAN DESIGN FRAMEWORK............................ 59
• RETRO THEME................................................. 61
• INTERNATIONAL THEME................................. 63
OPPORTUNITY SITES........................................... 65
• OPPORTUNITY SITE“ A”.................................... 65
• OPPORTUNITY SITE“ B”.................................... 65
• OPPORTUNITY SITE“ C”.................................... 69 OPPORTUNITY SITE MARKET TEST................... 72 ECONOMIC GAPS................................................. 73 POTENTIAL CONTRIBUTIONS TO GAPS............ 73 LEVERAGED INVESTMENT.................................. 75
6. BARRIERS TO INVESTMENT................... 77
PHYSICAL CHALLENGES..................................... 77 MARKET CHALLENGES........................................ 78 FINANCIAL CHALLENGES.................................... 78 REGULATORY CHALLENGES.............................. 79 ORGANIZATIONAL INVESTMENT........................ 79 CONCLUSION........................................................ 80