From Nation Cities Weekly, a publication of the National League of Cities:

Securing Your Highest 'Return on Investment' Through Redevelopment

by Christiana McFarland and Will McGahan
 

The current economic downturn has underscored the benefits of more sustainable, intense, interconnected development based on existing local assets and infrastructure. Common models include transit-oriented and mixed-use development.
 
Return on investment from these efforts comes in the form of higher property values, extended life of previous infrastructure investments, retention of community character, revitalization of local businesses and a stable synergy among housing, transportation, and retail and industry activity.
 
But redevelopment is not without its challenges. Communities that are built out or simply seeking more sustainable development patterns encounter many hurdles. For example, many existing land use and other local regulations prohibit mixing uses. Additionally, banks and other investors may not be willing to take on the risk they associate with redevelopment.
 
Local officials from first tier suburban communities — those outside of central cities and inside the ring of developing suburbs and rural areas — know these challenges all too well. During the summer meeting of NLC’s First Tier Suburbs Council, hosted by Garland, Texas, Councilmember and Council Chair Douglas Athas in his city, steering committee members explored redevelopment projects throughout the Dallas region and discussed how to translate these best practices into realities for their own communities.
 
"Go after deals that make sense for your community and that leverage what you already have," said Paul Mayer, CEO of Garland Chamber of Commerce.
 
In Plano, Texas, that’s just what they did. With the announced extension of Dallas Area Rapid Transit in 1998, the city started planning for the future to bring new life to its already distinct, historic downtown.
 
"Downtown Plano has been transformed into a vital, active urban village through a strategy combining transit oriented development, public-private partnerships, and community support and participation," said Frank Tuner, Plano deputy city manager.
 
Among the redevelopment strategies used in Plano and in other communities in the region, the following were said to be key:

• Provide leadership and political will;
• Be educated about the benefits of redevelopment and help educate constituents and other key stakeholders;
• Understand that the benefits of a mixed-use project will be realized over a longer time frame than traditional development, but will garner much greater and more stable local revenues;
• Streamline your development process and consider form-based codes;
• Act as a facilitator and partner in the project;
• Provide strategic financial and regulatory support to help equalize economic risk of the developer; and
• Find a development partner that is invested in the community.

Other Texas communities on the steering committee’s tour of successful redevelopment and transit-oriented projects included Duncanville, North Richland Hills and Richardson. The committee also discussed regionalism, retail revitalization, neighborhood vitality and economic attraction strategies.
 
Details: For more information about NLC’s First Tier Suburbs Council or NLC’s Center for Research and Innovation’s work on finance and economic development, contact Christiana McFarland at mcfarland@nlc.org or William McGahan at mcgahan@nlc.org.
 

 
The article above gives some details on the recent First Tier Suburbs Council meeting held in Garland that I announced here. It was a very positive meeting and attendees gave it high praise.
 
Much of the credit for the successful meeting goes to assistant director Anita Russelmann in the Planning Dept for her dedication and time spent coordinating the speakers and other arrangements. Deputy city manager Martin Glenn and development director Neil Montgomery gave their full support and experience to the planning that resulted in a meeting judged by some of those attending as "the best summer meeting of the FTS Council ever." The authors of the article above, Christiana McFarland and Will McGahan, are also to be complimented because they are the NLC liaisons to the FTS Council and they handled all the arrangements and updates necessary from their end. Chamber of Commerce CEO Paul Mayer and economic development director Ayako Schuster met with Christy and Will a day earlier to explain local economic development efforts, the importance of the job training facility at the Garland campus of Richland College, and Garland's unique Economic Development Partnership between the city, chamber, and school district. Paul and Ayako were also available at all meetings to help field questions from FTS members that represented most areas of the country.
 
I offer my appreciation to these individuals and the others that helped gain Garland this recognition. I also appreciate those members of the City Council that were able to participate and help host our guests.