TACTICAL REVITALIZATION PLAN FOR DOWNTOWN ALBANY NY
tactical revitalization plan for downtown albany, ny - Capitalize ...
tactical revitalization plan for downtown albany, ny - Capitalize ...
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Section 2<br />
abilities (existing real estate, vacant land, amenities) to focus the planning and real estate<br />
programming decisions on items with the best chances for success.<br />
• Review current city housing plans/ policies<br />
• Understand existing Downtown housing market:<br />
• Who lives in Downtown now?<br />
• What is product / rents current?<br />
• Who might live in Downtown (age & employment info)?<br />
• Where do they live currently, what are those rents or sales prices?<br />
• What would it take to get those residents to move Downtown?<br />
• Real Estate Market: Assemble traditional market and demographic information as available<br />
from existing sources including market research conducted as part of ongoing industrial<br />
market analysis to determine the strength of retail, office, commercial demand and supply.<br />
• Commercial / Industrial<br />
• Review current City objectives for targeted commercial markets e.g., mixed-use,<br />
office, retail and light industrial uses.<br />
• Integrate current study of opportunities for high-tech and research/development<br />
innovation type uses or campus-type development<br />
• Analyze current impediments to mixed-use, commercial, office and retail<br />
development including zoning and land-use regulations, economic gaps and<br />
threats from regional submarkets<br />
• Identify necessary economic strategies and incentives to support suitable<br />
commercial development: particularly mixed-use development that integrates<br />
housing with other commercial uses into a vibrant district<br />
• Identify and Benchmark Competitive Communities<br />
• Work with Capitalize Albany to identify communities<br />
• Identify key metrics and points of comparison<br />
• “Teardown” analysis<br />
• Macro Socio-Economic Assessment:<br />
• Demographic and psychographic characteristics of existing population which are<br />
critical to understanding market depth of different population segments<br />
• Population trends<br />
• Emerging workforce requirements of “Tech Valley” – characteristics, types of skills and<br />
education, relative distribution of the workforce