ECONOMICS UNIQUENESS

138 ■ THE ECONOMICS OF UNIQUENESS
assistance to businesses so that they are prepared to capitalize on the nature
of the new market.
An exemplary case of a way to address the needs of small businesses is found
in Quito, Ecuador. Th ere, street vendors had become so ubiquitous that public
safety and pedestrian and vehicular circulation were compromised. It was felt
that the problem had to be addressed before a heritage-based center city revitalization
program could be successful. Other cities had simply forcibly removed
street vendors without consideration of how or if those businesses would survive.
Quito offi cials decided to take a diff erent path. Aft er extensive consultations with
street vendors and other stakeholders it was decided that the city would build an
enclosed shopping venue within the heritage district to which the vendors could
relocate. Th e rents would be kept low so that these micro-businesses could continue
to exist. As a result these small entrepreneurs remained within the heritage
district, are off the streets, and are sharing in the prosperity that has been realized
in the historic center city of Quito.
So there are a variety of approaches to address the potentially negative
eff ects on low-income residents when a heritage-based regeneration strategy
is undertaken. Whatever mitigation measures are used, they are most
eff ective when:
• An urban strategy, including resettlement planning, is formulated in consultation
with key stakeholders and agreed upon before implementation of the
regeneration process.
• Th ere is active, meaningful outreach to and systematic planning exercises with
local organizations and residents.
• Th ere are educational programs for the community broadly, and for the
existing low-income residents particularly, regarding the signifi cance and
importance of the heritage resources.
• A share of the enhanced revenues resulting from the regeneration is channeled
to the local government and earmarked for reinvestment for the benefi t of
existing low-income residents, funding such activities as building and conservation
skills training, management capacity building, and assistance to
community-led micro-business initiatives.
• Th e strategy is comprehensive, addressing not just providing housing but also
healthcare, job training, transportation, recreation, and education.
Conclusion
Heritage buildings are real estate. As properties, these are bought, sold, and
rented in the marketplace. While heritage buildings have aesthetic, cultural,