IMPLEMENTATION
NEW YORK AVENUE CORRIDOR STRATEGY
IMPLEMENTATION
“ We all should know that diversity makes for a rich tapestry and we must understand that all the threads of the tapestry are equal in value no matter what their color .” Maya Angelou
The implementation strategy for revitalization of the New York Avenue Corridor ( as reflected in the framework illustration ) is to promote early investment in strategic Opportunity Sites , while stabilizing and enhancing existing uses – commercial , residential and institutional ; and , as multifaceted as the “ barriers ” to this type of initiative , so too are the solutions . Whereas the national trend of stagnating and declining urban corridors is evident not just in Arlington , but throughout the United States , there is much to be learned from those communities that both succeeded and failed to revitalize these essential places within their communities . What we now know is that infill redevelopment projects are more complicated and take longer than “ Greenfield ” or fringe development for a whole host of reasons . Among the most pervasive challenges are :
• assembly of property ;
• comparatively high land costs ( speculation );
• regulations and public policies may be less relevant for their environment ( suburban vs . urban );
• susceptibility to comparatively high levels of public scrutiny ;
• may require structured parking and therefore , higher construction costs ; and ,
• perceptions at these sites being greater risk as their market may as yet be “ unproven .”
Simply put , the private sector cannot and will not do it alone . These projects require the participation of both the public and private sectors along with shared support for aggressive recruitment of niche opportunities .
For their part , it will be the public sector ’ s responsibility to “ level the investment and regulatory playing fields .” Private investment alone will not fill the financial “ gap ” created by these irregularities . Rather , it will move elsewhere . The public-private partnership should exist between what the market can do on its own and what the community needs or desires ( the vision ). Private capital will only follow public commitment in these arenas .
STRATEGY FRAMEWORK
As the illustration here shows , numerous entities are necessary for revitalization efforts to succeed and each one has a distinct role . Duplication of efforts alone can be enough to derail an otherwise successful initiative , as can be too narrow an interpretation of feasibility . As explained earlier in this document , as well as throughout the planning process , an essential component to advancing catalyzing investment opportunities is an understanding of the distinction between
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FINAL REPORT | SEPTEMBER 2013