New York Avenue Corridor Strategy Adopted Report New York Avenue Corridor Strategy Adopted Report | Page 83

NEW YORK AVENUE CORRIDOR STRATEGY
offset the gaps estimated for Opportunity Site A
and Opportunity Site B (with the City investing
in the new library/recreation center). The gap
for Opportunity Site C would likely require addi-
tional contributions, such as a land acquisition or
writedown.
LEVERAGED INVESTMENT
One of the primary objectives of corridor revi-
talization is to leverage public investment to
encourage private investment. As noted, public
sector entities should expect a healthy return on
any public investment made. The opportunity
concepts summarized herein have the potential
to effectively leverage a high degree of private
investment. As shown, in total, the Opportunity
Sites have the potential to generate approxi-
mately $106.5 million in new private investment
from the $19.2 million in new public investment
in the New York Avenue Corridor, leveraging
public investment at an average 5.5:1 ratio.
LEVERAGED INVESTMENT
Total Private
Investment
Opportunity Project
Opportunity A: Abram at New York Avenue
$12,100,000
Opportunity B: Park Row at New York Avenue $73,800,000
Opportunity C: Pioneer and New York Avenue $20,600,000
Totals
$106,500,000
Total Public
Investment*
$3,800,000
$12,100,000
$3,300,000
$19,200,000
Leverage
Ratio**
3.2
6.1
6.2
5.5
* Reflects both "direct" and "indirect" public investment.
** Reflects amount of private investment generated for every $1 dollar in public investment.
Source: Jacobs Inc. and Ricker│Cunningham.
Figure 5.24 Leveraged Investment
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FINAL REPORT | SEPTEMPER 2013