Keystone Appraisals

Keystone Blog

Transformational Investments - Change Communities Forever

January 20th, 2011 5:04 PM

When I decided to do some educational upgrades in the 1980’s, I moved to the West End of Vancouver. Family and friends were amazed and didn’t think this farm girl would last. Farming and wide open spaces was in my blood, and the West End had, and still has, one of the highest density populations per acre in North America. I loved it and thrived. Why? Stanley Park, the Sea Wall, beaches, numerous mini parks, traffic calmed streets and safely lit walking shortcuts between the residential and business districts. Population was diverse with a mix of old to very young and socio-economic divisions. There were two elementary schools and a high school; I think there may even be another high school now.

Recently I was reading an article in the Washington Post. It was titled “Olmsted’s ideals could help solve our real estate mess.” Frederick Law Olmsted designed Central Park and as a result transformed New York forever. Interestingly, he tracked land values over a seventeen year period of properties affected by the park and discovered that his $13 million creation increased property values $209 million.

There are numerous examples in the Kootenay/Boundary that well managed parks and green spaces, lineal or otherwise, result in an increase in property value. For example, in the Slocan Valley, the conversion of the Rail Bed to a non-motorized trail, has not only increased property values impacted by it but business has also enjoyed a positive increase in revenue as a result of people stopping in for a meal, purchasing supplies or looking for a room to stay. Simple things, like the Communities in Bloom, transform our streets into inviting color wonders in all seasons. It transforms our spirit and communities with minimal investment.

The Downtown Commercial Sector of Trail is about 30 blocks. This is considered large for a city of its size. Numerous buildings are underperforming, vacant or underused. Yet, there are so many positive economic, social and environmental indicators that, in my opinion, make it ripe for transformational investment.

Indicators include, but are not limited to:

Large corporations have offices located, are considering or in process of relocating or expanding to the downtown;
Waneta Dam Expansion Project;
Much of the Teck workforce is retiring and being replaced with younger workers who are either returning or new to the area, while at the same time the majority or retired workers are remaining;
It is located on the banks of the Columbia River, has excellent recreational, educational and health care facilities;
Teck, in conjunction with the City, surrounding municipalities, Regional District and Interior Health have made numerous and positive indents into environmental issues.

Perhaps it is time to consider transformational investments? Is it time to bulldoze underperforming, unused and underused properties or not? Is it time to reduce the surplus and revitalize? That can be expensive, but ideas to promote reuse or alternative uses can also be effective at usually reduced cost, though not always. How to do this, at what cost and by whom? Perhaps some space could be purchased by various government agencies or private public partnerships to transform some of this space or to bank it for the future. How about traffic patterns? Do they need to change to encourage sitting areas or plazas for shop keeps and patrons, residents and workers to meet, celebrate and commune with each other or nature? Is it time to encourage housing in the downtown that would attract a diverse and varied demographic? There are numerous ways to revitalize and regenerate the downtown into a vibrant area; to provide safe and affordable housing for all levels of economic means.

What ideas do you have?

A Downtown Opportunities and Action Planning Committee has been formed. They would love to hear from you. Visit http://www.trail.ca/Downtown.php.

Comments and a survey on the bridge replacement are also encouraged - http://www.trail.ca/bridge.php

It is time to invest and transform our community and our future!

Posted by Gina Ironmonger on January 20th, 2011 5:04 PMPost a Comment (1)

Subscribe to this blog