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