More than anything, by themselves rents are not high enough to induce the desired redevelopment.
|Four stories of retail and housing: Ideal|
|Doesn't pencil out|
|Summary sheet on Sites A, B, & C on North Broadway|
(detail, via City of Salem, now hidden on old site)
And what about 295 Church Street (also old site)?
|295 Church Street - via LRS Architects|
Significantly, they are all in Urban Renewal Areas, and it may be that tax increment support is necessary on State Street. What is the impact of parking lots? If surface area devoted to "free" car storage were deleted, could the projects pencil out?
Equally, how do these compare to big box greenfield development on the edges of the city?
|Big Box greenfield development|
|Via Strongtowns and CNU Public Square|
Back to the Presentation...
The project team also posted a helpful illustration of the height maximum.
|Examples on building height are helpful|
|State Street needs bike lanes|
|Walmart is here|
So the City's refusal on a full 4/3 Safety Conversion is still dumb.
|That's just delaying|
|A parking study might be useful|
|The North Broadway Parking Study (2012) on a parking district|
(Previous notes on the State Street Corridor Study are here.)