Using Land Value Capture to Revitalize Urban Retail and Create Vibrant Shopping Streets
By
marojejian
Front-window bakery material. Catches the eye, delivers the goods.
Summary
The article explores how land value capture could be used to revitalize retail and create vibrant shopping streets in cities. It discusses the concept of 'consumer cities' where retail and consumption drive urban appeal, and examines the challenges facing retail streets including high rents, competition from online shopping, and restrictive zoning. The article proposes using land value capture mechanisms to fund public improvements that benefit retail areas, potentially creating more beautiful and economically sustainable shopping districts.
Key quotes
· 4 pulledUrban economist Ed Glaeser called this the rise of the consumer city, showing how consumption agglomeration was becoming increasingly important, as well as production agglomeration, in driving up urban rents.
When people say Hayes Valley in San Francisco or Williamsburg in Brooklyn are interesting neighborhoods, what they often mean is that they have interesting retail.
A lot of what we find interesting about cities is the retail within them. We lean on retail – shops, cafes, restaurants and so on – to make cities what they are.
How to create beautiful shopping streets everywhere.
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