Final Report - City of Charlottetown

Final Report • December 20121.1 Waterfront RenaissanceUrban waterfronts around the world are seeing a renaissance as heavy marine industriesleave their downtown locations and as people realize the power of the waters edge in placemaking.These redeveloped sites are becoming highly desirable places to live, work, and play, andare quickly becoming major tourist and event destinations. In most Canadian cities, waterfrontland values have increased faster than other parts of the downtown. “Waterfront propertiesin the UK command on average 56% higher prices than their inland counterparts with someexceptional pieces of real estate achieving premiums of 300%, according to a new index”1. Someof the most expensive urban developments around the world are reserved for waterfront land.Entirely new cities are springing up to take advantage of a waterfront address and the returnsit can provide. The caveat is that in all these cases, the waterfront must be planned as a wholeto create a series of unique public experiences; shopping, dining, walking, recreation, boating,high quality architecture, special events, interpretation, art and performance, etc. As long as therules of successful waterfront development are followed, land values will increase and therewill be positive feedback for high quality development which will , in turn, increase destinationpotential. The public wins, the developer wins, and the City wins. Without proper or coordinatedplanning, however, one poorly done development can undermine years of positive waterfrontenhancements.1.2 Report OverviewThis report outlines some of the rules of successful urban waterfront development and a 30year plan for the continued revitalization of Charlottetown’s waterfront. A thorough communityinvolvement process throughout this three month study defined how Charlottetown citizens valuetheir own waterfront and how they would like to see it evolve. The plan suggests a balancedapproach to preserving and enhancing critical waterfront open space, while ensuring the higheststandard of infill development will create activity and destination potential. The consultants heardclearly from the community that no development should be able to locate on the waterfront unlessit meaningfully gives back to the waterfront in a measurable way. The consultants also heard thatthe waterfront should be 100% public and continuous, linking Victoria Park to the HillsboroughBridge. Charlottetown residents want the waterfront to evolve in a manner that is mindful ofits heritage, economically viable, and conducive to multiple uses with broad public benefit. Itmust promote and reflect high quality urban and architectural design, provide continuous publicwaterfront access, and create nodes of activity and energy for residents and visitors alike.In Charlottetown, the past 30 years of development since the Stevenson Kellog Report havebeen mostly positive for the City and its residents. Residents and Council alike understand theeconomic potential of the waterfront and the need for a coordinated plan to manage its longtermdevelopment. Tourists have found the waterfront to be a highly desirable destination alongwith the historic downtown. The renaissance of Charlottetown’s waterfront is only just beginning.When one thinks of Charlottetown in the future, they will fondly remember their experiences onthe waterfront.1 http://www.propertywire.com/news/europe/waterside-property-price-premium-201208026810.html2