Joseph Minicozzi

The smart math of mixed-use

Principal of Urban3, LLC and formerly the New Projects Director for Public Interest Projects, Inc (PIP), Jan 24, 12.

Tagged with government, community, property taxes, mixed use

Asheville, North Carolina—like many cities and towns around the country—is hurting financially.

It’s not that Asheville is some kind of deserted ghost town. Rather, it’s a picturesque mountain city with a population of about 83,000 that draws tourists from all over the world, especially during the leaf-peeping season. But it’s also a city that appeals to its residents, who revel in strolling about a true walkable downtown chock-full of restaurants and retail shops featuring locally grown and crafted products. Downtown is not only one of Asheville’s main draws; it also serves as a major driver in helping the city overcome its budgetary doldrums.

Most of us – city planners, elected officials, business owners, voters, and the like – understand that the city brings in more tax revenue when people shop and eat out more. However, we often overlook the scale of the property tax payoff for encouraging dense mixed-use development.

Many policy decisions seem to create incentives for businesses and property developers to expand just about anywhere, without regard for the types of buildings they are erecting. In this article, I argue that the best return on investment for the public coffers comes when smart and sustainable development occurs downtown.

Full Story: The Smart Math of Mixed-Use Development
Source: Planetizen, January 23, 2012

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