Learning from Beale Street
Smart City has an interview with developer John Elkington, who has been working on the revitalization of Beale Street in Memphis. He outlines the five key factors (via Planetizen) for the revitalization of historic and entertainment districts. It's great to hear the story of this complex, large-scale turn around: "I think all developers have to work on faith."
Elkington's five factors:
1. government support - don't waste your time if you don't have the support of municipal leaders
2. deal with policing issues - safety first - public perception of safety is key
3. potential market base - if you're not Orlando with droves of tourists, you have to make the most of who you do have
4. specific tenant plan - go out and pitch to tenants (local and regional) who fit the concept
5. well-defined concept - match the public's expectations with what you plan to deliver
therevitalist
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