New York Avenue Corridor Strategy Adopted Report New York Avenue Corridor Strategy Adopted Report | Page 73

NEW YORK AVENUE CORRIDOR STRATEGY OPPORTUNITY SITES Opportunity Site plans provide a snapshot of possible future development scenarios for three strategic areas within the New York Avenue Cor- ridor. The three Opportunity Sites were identified through an analysis of existing conditions with a focus on location of owners, tenure of ownership and utilization. The snapshots explore how re- development of the areas could occur as related to potential locations of buildings, parking and open space, uses that could be combined with- in the areas to create synergies, and the over- all development character that could be created in each area. Specific uses for each site were selected based upon expressed community de- sires and supporting market in the Trade Area. Within each Opportunity Site, economic feasi- bility of the envisioned development, potential implementation strategies, and additional value leveraged for each dollar invested in the specific areas was identified. The Opportunity Site plans represent one of multiple scenarios that could occur within each of the areas depending on market needs and responses to the site oppor- tunities. The location of buildings and the land uses identified should be viewed as having the potential to occur in any number of locations or configurations within the Study Area. The visibility created through traffic volumes on E. Abram Street, and orientation of this site make it a very good candidate for neighborhood supporting retail with many of the uses desired by community stakeholders. Smaller retail es- tablishments could be located facing New York Avenue with establishments that could support the desire for informal gathering places such as coffee shops, ice cream shops or other business- es that facilitate impromptu visits with neighbors. To the east of the hard corner, the site could ac- commodate a neighborhood market, again sup- porting one of the key desires expressed by the community. On the southwest corner of the intersection, four parcels make up the Opportunity Site. All four of these parcels are categorized as underutilized. The structures on these parcels are single fami- ly residential, but have been converted over the years to commercial uses with the front yards being transformed into parking lots. The vision for these sites is that of live/work development which would allow the same types of commer- cial and office uses on the ground floors of the buildings as exist on the sites today, while also allowing residential units on the second floors of the buildings. These buildings would provide a more appropriate and more aesthetic transition Opportunity Site ‘A’ between E. Abram Street and the single family The scenario generated for Opportunity Site A neighborhood to the south. The proforma pre- envisions a new commercial development locat- pared for this Opportunity Site estimates an add- ed at the intersection of E. Abram Street and New ed value to the community of $10 million and can York Avenue, the northern gateway to the corri- be found in Appendix iv. dor (see Figure 5.17). On the southeast corner of the intersection, seven parcels make-up the Opportunity Site ‘B’ Opportunity Site. Four of those parcels are ei- ther vacant or underutilized (having an improve- The scenario generated for Opportunity Site B envisions a new mixed-use development located ment to total property value of less than 50%). at the intersection of E. Abram Street and New York Avenue (see Figure 5.18). On the south- 65 FINAL REPORT | SEPTEMPER 2013