BARRIERS
MARKET CHALLENGES
Comments related to the market were largely aimed at existing perceptions of the Study Area , e . g ., lack of commercial diversity , disproportionate number of rental and affordable housing units and absentee property ownership that were driving to other locations . Some participants felt that perceptions , more than market realities , were having the greatest impact on investment choices . Note : Based on the market analysis completed as part of the planning effort , these participants were accurate .
The Study Area ’ s housing stock was the subject of many participants ’ comments , but the real concern was with the number of owner vs . renter occupied units and the corresponding impact that had on maintenance . While many felt that East Arlington offers an affordable housing location for area residents , they also believed that there are too many housing units within a narrow ( and low ) price band . Another concern related to housing was the existing concentration of substandard rental housing . Increased home ownership in the Study Area was viewed by most participants as a critical factor in improving the Area ’ s overall image , as was diversifying the type of products available for individuals at different life stages .
Related to the Study Area ’ s housing stock and correspondingly , resident profile , was the one-dimensional nature of the commercial space and its users . Most participants admitted that the majority of their shopping was done outside the Study Area . Further , they seemed to understand that limited choices for shopping and services in the Study Area correspondingly affected the attractiveness of the area as a housing location . In addition to shopping and service options , many participants mentioned a need for more entertainment options , particularly for families , as well as medical services for the elderly .
Finally , the lack of employment opportunities in the Study Area was another area of concern . Some comments focused on the need for new businesses and the lack of opportunities for neighborhood residents within existing businesses . A common perception seemed to be that employers in the Study Area typically looked outside the neighborhood for employees . Job training and expanded education efforts were seen as vital to the Study Area ’ s future , particularly for its young people .
FINANCIAL CHALLENGES
As noted in the market challenges above , there was a general feeling among participants in the process that the investment community had overlooked East Arlington . Not surprisingly , participants with the strongest opinions around financial feasibility were those in the development and financial communities . Individuals from these groups cited the Study Area ’ s below-market rental rates and sale prices and overall perception as factors which impacted near-term financial feasibility . In contrast , existing business and property owners within the Study Area described a relatively stable business environment , though noted that financial incentives would be needed in order to upgrade the overall physical appearance of existing structures . In addition , many believed that the City should play a large and leading role in improvements to the public realm . While there was some debate as to whether the City had a clear financial commitment to a long-term revitalization effort in East Arlington , many participants believed there was .
ARLINGTON , TEXAS
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