Downtowns are lifeless. It’s a once-in-a-generation chance to revive them.
“There’s a financial urgency to get transformation underway quickly. In many cities, such as D.C., commercial office vacancies are 15 percent or higher, according to CoStar, a provider of commercial real estate data. That’s starting to resemble a fire sale scenario in which rents and property values drop rapidly. America’s cities are ripe for new skylines and fresh streetscapes. The best leaders will get going soon.” [Read the full editorial.]
To revitalize downtowns, cities need to stop making this big mistake
“No mayor or city council member wants to hand a lavish deal to real estate developers. But the urgency and scale of the downtown crisis in many major metro areas mean local leaders need to give away a bit more than they probably would prefer. Consider the nation’s capital city.” [Read the full editorial.]
The model city for transforming downtowns? It’s in Canada.
“Almost every direction one looks in downtown Calgary, there’s a crane. The downtown transformation that so many other cities are desperate for is underway in Calgary, a city of 1.4 million in Alberta, which is often dubbed the “Texas of Canada” for its ties to the oil and gas industry. But today, office towers that once housed energy companies are rapidly being converted into apartments. Calgary offers a road map — and a tool kit — for D.C. and other beleaguered cities on how to make the switch rapidly and efficiently.” [Read the full editorial.]
America’s best example of turning around a dying downtown
"Our year-long project studying how to revive downtowns has identified three keys to success: First, to focus on a few blocks at a time (what urban planners call a “node”). Second, to make it as easy as possible to convert old office towers for new uses, via tax incentives and expedited permitting. Third, to offer unique amenities for residents, workers and tourists. Cleveland did all three in the area around Public Square.” [Read the full editorial.]