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

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Key Patterns of Investment: Convention Centre The new Ottawa Convention Centre (opened in 2011) is one of the most significant public investments in the downtown. The project's cost was $212M, for a four-level 192,000 square feet (17,800 m2) facility. The cost was shared by three levels of government: ~$50 million came from the federal government; ~$50M from the Ontario government; ~$40M from the City of Ottawa and the remaining was borrowed by the centre itself. 26 Today, the facility is owned by the provincial government. It is estimated that the Ottawa Convention Centre will boost tourism and business investment, generating an estimated $200 million in economic benefits over the next five years. Moreover, a high level of confirmed events has resulted in the creation of almost 3,000 jobs. 27 The facility is also associated with the Westin Hotel and the Rideau Centre, which will help stimulate the core’s economy and increase foot traffic New Downtown Convention Centre and the number of tourists downtown. Development Incentives The City launched the Residential Downtown Intensification (Re-Do-It) initiative in 1994, to help reverse the decentralization of the downtown’s residential community and help revitalize the core. The program included a waiver on development charges and a reduction in building permit fees for residential development in targeted areas. The program continued after amalgamation and in 2002 the program was extended to include the east side of the downtown (initially, the program only applied to the downtown area west of the Rideau Canal.) Removing these charges was also coupled with other complementary actions, such as: expediting development approval processes, reducing parking requirements, compiling and advertising a list of vacant sites, and undertaking plans to enhance the public realm and connectivity. Overall the City of Ottawa has waived $9.2M in development charges dating back to 2004. 28 The City also made some reforms to property tax rates for apartment buildings. Recently, this program has expired and development charges will again apply to the downtown. Overall, this program was considered highly successful. While the City faced significant revenue loss in the short term, it was found that typically fee exemptions were recouped in less than four years through an increased property tax base. 29 As well, the removal of these charges helped to attract $235M in downtown development between 2002 and 2011. Future Investments The City of Ottawa has plans to develop an LRT line that will significantly improve connectivity around the City of Ottawa. Cost estimates for this project are in the order of $2.1B, with the province and the federal government each making $600M available. 30 Investments in higher order transit are well known for their ability to deliver a private development response. Those interviewed for the purposes of this project, had also commented on development plans currently being discussed along the proposed line and at future LRT stations. 26 Canwest Media. (2008). Ontario Hands over $50m for new Congress Centre. Retrieved from: http://www.canada.com/ottawacitizen/news/story.html?id=c6d97904-5383-490a-9da3-650c8259649f. Accessed 2012 January 16. 27 Government of Ontario (2011). Ottawa Convention Centre Opens for Business. Retrieved from: http://news.ontario.ca/opo/en/2011/04/ottawa-conventioncentre-open-for-business.html. Accessed 2012 January 16. 28 Information provided by the City of Ottawa on February 10, 2012 1:20 PM 29 City of Ottawa (n.d.). Residential Intensification Case Studies. Retrieved from: http://www.cmhc-schl.gc.ca/en/inpr/su/sucopl/upload/Exemption-from-Planningand-Development-Fees-Ottawa-Ont.pdf. Accessed 2012 January 16. 30 CBC News. (2011). Ottawa LRT Announcement Set. Retrieved from: http://www.cbc.ca/news/canada/ottawa/story/2011/07/06/ottawa-ltr-announcementwatson.html. Accessed 2012 January 16. 78
TORONTO Canada’s largest metropolis... Snap Shot of Toronto “Downtown Toronto is approaching a population of 200,000 and this has made a huge difference [to the life of the core]” The largest city in Canada. Part of a mega urban region, known as the Greater Golden Horseshoe Capital of Ontario Rapidly growing Downtown population One of the fastest growing condo markets in North America One of the world’s most multicultural cities. Canada’s largest financial centre. 79 Downtown Toronto is the heart of the City of Toronto, the Greater Toronto Area (GTA) and the urban region known as the Greater Golden Horseshoe. Today, downtown Toronto is bustling, vibrant and alive in almost every corner, but this has not always been the case. A strong residential influx over several decades has been at the centre of this dramatic transformation. Downtown Toronto now boasts a strong financial core, complemented by a vibrant mosaic of neighbourhoods that offer distinct characters, heritage qualities, scales, densities and cultural influences, all of which are woven together by a series of ‘main streets’. Yet downtown Toronto faces many challenges, such as improving mobility and managing high levels of congestion, servicing new populations, connecting emerging waterfront neighbourhoods to the historic core, attracting a diverse range of residents and household types, upgrading aging infrastructure, managing pollution and dealing with constraints on available land.
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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
Page 30 and 31: Downtown Toronto and downtown Vanco
Page 32 and 33: Municipal Investments (mapped inves
Page 34 and 35: DOWNTOWN CASE STUDIES 32
Page 36 and 37: Downtown Halifax Timeline 1749 - 20
Page 38 and 39: VISIBILITY Does the downtown have a
Page 40 and 41: VISIONARY Does the downtown have st
Page 42 and 43: LIVEABILITY Is the downtown vibrant
Page 44 and 45: sites for redevelopment that are cu
Page 46 and 47: Summary of Municipal Investments Pr
Page 48 and 49: Key Patterns of Investment: 1. Cent
Page 50 and 51: Future Investments The proposed Con
Page 52 and 53: Downtown Fredericton Timeline 1749
Page 56 and 57: PROSPERITY: Is the downtown’s eco
Page 58 and 59: Municipal Tax Base Since 1995, the
Page 60 and 61: Public Realm Downtown Fredericton h
Page 62 and 63: 60 Municipal Investments in Downtow
Page 64 and 65: 2. Enhancing the waterfront Committ
Page 66 and 67: Downtown Ottawa Timeline 1792 - 201
Page 70 and 71: charges have recently been reinstat
Page 72 and 73: Many of the federally occupied buil
Page 74 and 75: Safety Downtown Ottawa is seen as a
Page 76 and 77: transit service downtown and across
Page 78 and 79: Summary of Public Investments Publi
Page 82 and 83: Downtown Toronto Timeline 1793 - 20
Page 84 and 85: Context Map: Key Assets and Feature
Page 86 and 87: The downtown study area differs sli
Page 88 and 89: http://www.architravel.com/architra
Page 90 and 91: Office Development Downtown Toronto
Page 92 and 93: Municipal Tax Base The downtown mak
Page 94 and 95: Safety Crime indicators for the Cit
Page 96 and 97: STRATEGY Is the City Strategically
Page 98 and 99: Public Investments in Downtown Toro
Page 100 and 101: 5. Strengthening Communities Invest
Page 102 and 103: Downtown London Timeline 1840 - 201
Page 104 and 105: VISIBILITY Does the Downtown have a
Page 108 and 109: LIVABILITY Is the downtown vibrant,
Page 110 and 111: picnic tables, cafe tables with umb
Page 112 and 113: Summary of Capital Projects: 1998-2
Page 114 and 115: Key Patterns of Investment: The Cit
Page 116 and 117: WINNIPEG Growing in strength and co
Page 118 and 119: Context Map: Key Assets and Feature
Page 120 and 121: VISIONARY Does the downtown have st
Page 124 and 125: LIVABILITY Is the downtown vibrant,
Page 126 and 127: STRATEGY Is the City Strategically
Page 128 and 129: 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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VISIBILITY Does the downtown have a
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Leadership and Collaboration The Ci
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Office Development Private office s
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LIVEABILITY Is the downtown vibrant
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STRATEGY Is the City Strategically
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Key Patterns of Investment: 1. Conn
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EDMONTON a downtown filled with mom
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Context Map: Key Assets and Feature
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UNITY Does the downtown have strong
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Retail Development It has been obse
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LIVABILITY Is the downtown vibrant,
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156 Municipal Investments in Downto
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downtown zoning bylaws ensure that
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Downtown Vancouver Timeline 1859 -
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PROSPERITY Is the downtown’s econ
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The downtown also generates a fifth
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Eastside community, which could pot
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uild freeways into downtown Vancouv
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172 Downtown Vancouver Capital Proj
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2. Building complete communities In
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Context Map: Key Assets and Feature
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The City has also taken strong lead
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downtown is striving to offer a uni
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Safety Downtown Victoria has faced
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Pattern of Investment: Investing in
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QUICK WINS FOR CANADIAN DOWNTOWNS O
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Connecting the Downtown with Natura
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comprehensive planning processes to
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uilding and reconnect it with surro
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198 APPENDICES
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Yet, where the municipality had not
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Data Gaps From the outset of this p
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The foundation of the five principl
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was also collected that examines pr
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APPENDIX 2 - PHOTO CREDITS Front Co
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Context Map The Harbour: http://www
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Toronto 212 Confederation Square: h
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214 Rebuilt Covent Garden Market: h
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Parking lots: The Alberta Legislatu
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Victoria Cover Page Red Second post
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APPENDIX 3 - REFERENCE LIST City of
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City of Edmonton. (2010). Capital C
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City of Vancouver. (2007). Downtown
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Condos Victoria BC. (2011). The Atr
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Harris Consulting (2007). City of V
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The Star Phoenix Website. (2011). S
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