The Value of Investing in Canadian Downtowns - International ...

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Pattern of Investment: Investing in Safety, Social and Cultural Programs Downtown Victoria has been responding to many social issues around homelessness and drug abuse. For example, the Mayor’s Task Force to break the “Cycle of Mental Illness, Addictions and Homelessness” was established in 2007, and has worked to address these critical issues. The City of Victoria along with the Province of British Columbia has also invested in “The Greater Victoria Coalition to End Homelessness”. The City of Victoria and the coalition have two very admirable goals in mind. Firstly the coalition aims to create 1,233 new housing units for the Region’s homeless and at-risk by 2018. Secondly, the coalition intends to end homelessness in Victoria by 2018. These laudable ideas will need significant investment to be realized in the coming years. Additionally, the City has invested in creating a safer downtown core. This started with the “Downtown Late Night Task Force,” which aimed to keep the streets safe for residents and retailers at night. The City of Victoria hopes to create a safe, friendly and beautiful downtown for residents, retailers and office workers. 22 An example of this commitment is the “Corridors of Light” initiative, where from 2005 to 2010 the City of Victoria and the Downtown Victoria Business Association invested just over $600,000 to improve lighting levels in strategic locations throughout the downtown. The City of Victoria has also invested approximately $3 million in capital improvements to the McPherson Playhouse between 2001 and 2010. This is an important cultural facility for downtown and the wider region. Improving the public realm The City has also been making strategic investments to enhance both its heritage values and natural features. These investments have helped enhance 22 City of Victoria. (2012). Downtown Beautification. Retrieved from:: http://www.victoria.ca/cityhall/budget.shtml. Accessed 2012 May 14. 188 the City’s public realm and draw increased residential growth into the core. The City of Victoria has invested $500,000 (matched by the provincial government) in Spirit Square, as part of its revitalization of Centennial Square. Spirit Square makes Centennial Square more inviting to the general public and increases opportunities for celebrations and concert events. The City also established the Victoria Civic Heritage Trust in 1989 with the mandate to develop, administer and financially support programs that preserve and promote cultural heritage. Today this group continues to administer three key heritage incentive and loan programs that have been highly successful. These incentives have been heavily leveraged by the private sector and led to significant investment in the downtown. In turn, this has led to dramatic increases in downtown assessment values that in effect pay back these grants over time. $180,000,000 $160,000,000 $140,000,000 $120,000,000 $100,000,000 $80,000,000 $60,000,000 $40,000,000 $20,000,000 $0 Assessment Increases from Heritage Incentives $40,615,966 PROJECTS BEFORE REHABILITATION 550 Yates Street - The Oriental Hotel The City invested $100,000 dollars in this approx $5M re-development of one of Victoria’s prized heritage buildings. $166,242,292 PROJECTS AFTER REHABILITATION One of downtown Victoria’s greatest assets is its proximity to the harbour. Each year, thousands of people attend events on the Inner Harbour, including Symphony Splash, Canada Day, Swiftsure, Victoria
International Cycling Festival, the Classic Boat Festival, and the International Buskers Festival. The City has been investing in the harbour, particularly by improving the paths that extend along the waterfront, known as the Greenway. 23 The City is strengthening this investment by creating a new section of the path, connecting Victoria’s commercial wharf to Dallas and St. Lawrence roads. One interviewee also noted that a major opportunity for the waterfront was in the potential to transform the large parking lots that occupy key parcels along the waterfront. Also just beyond the boundaries of the downtown, the City has invested $510,000 on the iconic Pandora Green Boulevard. The street will benefit from a new sidewalk, new trees and the building of a lit plaza in front of the Royal Conservatory of Music. also limit funding available to support other potential capital projects in Victoria in the coming years. Similarly, the City of Victoria has been facing issues around the need to support a sewage treatment plant to service the entire CRD. This project has an estimated cost of approximately $1.2 billion. While this would represent a partnership between the CRD and higher levels of government, it marks another major long-term capital investment for the City. 25 Overall, these investments are helping create a more attractive, appealing and interesting downtown for living, working and recreating in downtown Victoria. Future Investments Supporting critical infrastructure – The Johnston Street Bridge A key issue facing Victoria is the need to upgrade aging infrastructure. More specifically, the Johnston Street Bridge, connecting the downtown with Victoria West, is being replaced due to structural and mechanical issues and its seismic vulnerability. 24 On November 20, 2010 Victoria voters gave the City permission to borrow $49.2M to replace the bridge. Given the size of the investment, the Council only decided to replace the bridge after considering safety, accessibility, improved pedestrian and cycling amenities, heritage values, sustainability, traffic and business disruption. Overall, this major investment is critical for the future of downtown Victoria, yet it will Live Flag Event, 2011 Clean Team, at work in downtown Victoria 23 City of Victoria. (2003). Greenways Plan. Retrieved from: http://www.victoria.ca/cityhall/pdfs/plnsrv_green_hrbr_panel3.pdf. Accessed 2012 February 25. 24 City of Victoria. (2009). Johnson Street Bridge Condition Assessment Report. Retrieved from:: http://www.johnsonstreetbridge.com/wp-content/uploads/2009/08/johnsonstreet-bridge-condition-assessment-delcan-engineering.pdf. Accessed 2012 February 15. 25 Harnett, Cindy E. (2007). “Victoria can be a sewage leader” in Times Columnist Victoria. Retrieved from:: http://www2.canada.com/victoriatimescolonist/features/sewage/story.html ?id=c56da1f3-1ed2-439f-83f7-22801c5f8eea. Accessed 2012 February 22. 189
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ACKNOWLEDGEMENTS This project would
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CONTENTS ACKNOWLEDGEMENTS .........
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Additionally this project aims to b
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with the selected downtown study ar
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KEY FINDINGS The project team devel
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Downtowns are iconic and powerful s
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Victoria have very sensitive downto
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PROSPERITY Does the downtown have a
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These are very promising signs, yet
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Downtowns are making a major contri
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The densest downtown is Vancouver a
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Downtowns are important places for
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Winnipeg Fredericton Edmonton Halif
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Downtown Toronto and downtown Vanco
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Municipal Investments (mapped inves
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DOWNTOWN CASE STUDIES 32
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Downtown Halifax Timeline 1749 - 20
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VISIBILITY Does the downtown have a
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VISIONARY Does the downtown have st
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LIVEABILITY Is the downtown vibrant
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sites for redevelopment that are cu
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Summary of Municipal Investments Pr
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Key Patterns of Investment: 1. Cent
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Future Investments The proposed Con
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Downtown Fredericton Timeline 1749
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PROSPERITY: Is the downtown’s eco
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Municipal Tax Base Since 1995, the
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Public Realm Downtown Fredericton h
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60 Municipal Investments in Downtow
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2. Enhancing the waterfront Committ
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Downtown Ottawa Timeline 1792 - 201
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charges have recently been reinstat
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Many of the federally occupied buil
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Safety Downtown Ottawa is seen as a
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transit service downtown and across
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Summary of Public Investments Publi
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Key Patterns of Investment: Convent
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Downtown Toronto Timeline 1793 - 20
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Context Map: Key Assets and Feature
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The downtown study area differs sli
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http://www.architravel.com/architra
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Office Development Downtown Toronto
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Municipal Tax Base The downtown mak
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Safety Crime indicators for the Cit
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STRATEGY Is the City Strategically
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Public Investments in Downtown Toro
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5. Strengthening Communities Invest
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Downtown London Timeline 1840 - 201
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VISIBILITY Does the Downtown have a
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LIVABILITY Is the downtown vibrant,
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picnic tables, cafe tables with umb
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Summary of Capital Projects: 1998-2
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Key Patterns of Investment: The Cit
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WINNIPEG Growing in strength and co
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Context Map: Key Assets and Feature
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VISIONARY Does the downtown have st
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LIVABILITY Is the downtown vibrant,
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STRATEGY Is the City Strategically
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126 Major Public Investments in Dow
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Ship Street, Sky, and The Strand. T
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Downtown Saskatoon Timeline 1903 -
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Leadership and Collaboration The Ci
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Office Development Private office s
Page 140 and 141: LIVEABILITY Is the downtown vibrant
Page 142 and 143: STRATEGY Is the City Strategically
Page 144 and 145: Key Patterns of Investment: 1. Conn
Page 146 and 147: EDMONTON a downtown filled with mom
Page 148 and 149: Context Map: Key Assets and Feature
Page 150 and 151: UNITY Does the downtown have strong
Page 152 and 153: Retail Development It has been obse
Page 154 and 155: LIVABILITY Is the downtown vibrant,
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Page 160 and 161: downtown zoning bylaws ensure that
Page 162 and 163: Downtown Vancouver Timeline 1859 -
Page 164 and 165: VISIBILITY Does the downtown have a
Page 166 and 167: PROSPERITY Is the downtown’s econ
Page 168 and 169: The downtown also generates a fifth
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Page 172 and 173: uild freeways into downtown Vancouv
Page 174 and 175: 172 Downtown Vancouver Capital Proj
Page 176 and 177: 2. Building complete communities In
Page 178 and 179: Context Map: Key Assets and Feature
Page 180 and 181: VISIBILITY Does the downtown have a
Page 182 and 183: The City has also taken strong lead
Page 184 and 185: downtown is striving to offer a uni
Page 186 and 187: Safety Downtown Victoria has faced
Page 192 and 193: QUICK WINS FOR CANADIAN DOWNTOWNS O
Page 194 and 195: Connecting the Downtown with Natura
Page 196 and 197: comprehensive planning processes to
Page 198 and 199: uilding and reconnect it with surro
Page 200 and 201: 198 APPENDICES
Page 202 and 203: Yet, where the municipality had not
Page 204 and 205: Data Gaps From the outset of this p
Page 206 and 207: The foundation of the five principl
Page 208 and 209: was also collected that examines pr
Page 210 and 211: APPENDIX 2 - PHOTO CREDITS Front Co
Page 212 and 213: Context Map The Harbour: http://www
Page 214 and 215: Toronto 212 Confederation Square: h
Page 216 and 217: 214 Rebuilt Covent Garden Market: h
Page 218 and 219: Parking lots: The Alberta Legislatu
Page 220 and 221: Victoria Cover Page Red Second post
Page 222 and 223: APPENDIX 3 - REFERENCE LIST City of
Page 224 and 225: City of Edmonton. (2010). Capital C
Page 226 and 227: City of Vancouver. (2007). Downtown
Page 228 and 229: Condos Victoria BC. (2011). The Atr
Page 230 and 231: Harris Consulting (2007). City of V
Page 232: The Star Phoenix Website. (2011). S
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