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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