04.09.2015 Views

TACTICAL REVITALIZATION PLAN FOR DOWNTOWN ALBANY NY

tactical revitalization plan for downtown albany, ny - Capitalize ...

tactical revitalization plan for downtown albany, ny - Capitalize ...

SHOW MORE
SHOW LESS

Create successful ePaper yourself

Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.

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

Hooray! Your file is uploaded and ready to be published.

Saved successfully!

Ooh no, something went wrong!