A plan to rejuvenate Hamilton
Thinktank offers blueprint for revitalization
February 10, 2010
Meredith MacLeod
The Hamilton Spectator
http://www.thespec.com/News/Local/article/719263
A leading urban think tank has set out a blueprint to revive investment in the city.
The projects it says will reshape Hamilton are modelled on successes in other industrial cities that turned around their flagging fortunes. It proposes 28 projects in five key districts (historic core, James Street North, waterfront, west harbour rail yards, McMaster Innovation Park), that would generate $165 million in new assessment and $6 million in yearly tax revenue.
Hamilton should create an independent economic development corporation to drive 28 key projects necessary to build the city's tax base, says the country's leading urban think-tank.
Do it right, and the city will transform its downtown and waterfront and reap more than $165 million in direct new assessment and $6 million a year in property taxes, says the Canadian Urban Institute.
Those figures don't include any of the expected spinoffs that follow major investments.
The report, called Building Momentum: Made in Hamilton Infrastructure Solutions, will be released publicly today.
It will be kicked off this afternoon with a tour of key locations by CUI representatives and city politicians and staff.
"They are spot-on in terms of what we know we need to do," said Mayor Fred Eisenberger.
"In many aspects they've confirmed the kind of focus areas we've identified."
The Toronto-based institute was asked by the Ministry of Energy and Infrastructure to identify priorities for investment that would offer the greatest immediate return and kickstart other private-sector projects.
The province paid for the study.
"The opportunity to get better alignment with the province and their belief of what Hamilton can be in the future is the best value we got out this," said Eisenberger.
The report builds on the information received during interviews with about 100 Hamiltonians, including councillors, senior city staff and civic leaders.
"There is a sense of optimism about the future," says the report. "Hamilton has huge potential: what is needed now is targeted, strategic investment to unlock that potential."
The CUI advises that the city should focus on five districts: the historic core of James Street from just south of St. Joseph's Hospital to just north of Jackson Square; the stretch of James Street North from the Lister building to Liuna Station; the waterfront; the west harbour railyards; and the McMaster Innovation Park.
The study identifies 28 "foundational projects" that will build the tax base, stimulate spinoff investments and boost quality of life.
"In the next 50 years, all of these investments will need to be made to ensure Hamilton's prosperity," reads the report. The CUI says the key task will be determining which investments to make in the next 15 years.
"The choices that Hamilton makes in the next decade or so will either open up or close off opportunities for further investment, so choosing the most promising foundational projects is critical."
Iain Myrans, senior planner, education and research at the CUI, says Hamilton is a "fascinating" city blessed with history, a great location, natural amenities and a transitioning economy.
The CUI prioritized the projects from a list of about 100 based on how many times a project was mentioned in an interview (which indicates the level of buy-in and support) and how each individual initiative could benefit and contribute to other projects.
Setting priorities is one thing, paying for them another.
Myrans said development corporations have been the backbone of the turnarounds of other cities, including Pittsburgh and Portland.
The agency would effectively take economic development out of city hall and place it in the hands of a board of directors tasked with making strategic investments and forging partnerships between public and private investors.
The CUI recommends that a development corporation be given a city-wide mandate. That way more risky investments can be offset with investments in less risky areas of the city, says Myrans.
The report also recommends the city consider setting aside 1 per cent of the municipal tax base for one year to create an urban development bank focused on downtown and waterfront investment.
The CUI further urges a focus on "quick wins" that will kickstart momentum and confidence.
Examples cited include festivals, design competitions, bike-sharing programs, public art, fast-tracking approvals for sidewalk cafes and initiatives aimed at making use of vacant upper floors in commercial areas.
The CUI studied revitalization projects in other industrial cities and based on geographic, demographic and financial characteristics, found the most appropriate model for each district identified in Hamilton.
The researchers calculated the potential direct uplift in assessment and tax revenue for Hamilton's projects based on those cities' experiences.
For the city's historic core, CUI cited the Warehouse District of Cleveland. James Street North was compared to the cultural district of Pittsburgh. The waterfront stacked up against Buffalo, while the railyards were compared to the Southside Works of Pittsburgh. The MIP was compared to the Science and Technology Park at Johns Hopkins in Baltimore.
Prev
Linear Mode
