A Public/Private Collaboration for Coordinated Action
They also believe that coordinated implementation of public and private improvements will not only facilitate faster development but will create an area with greater amenity and economic value to both private owners and the City, in the form of increased income and tax revenues. A neighborhood with a higher level of value and amenity will in turn have a greater benefit to adjacent neighborhoods to the north and east of the Triangle as well as to the physical development of Downtown as a whole.
- Recognize the importance of residential development and supporting retail to the downtown
- Promote affordable housing, neighborhood amenities, and protect existing residential neighborhoods and community institutions
- Respond to the current market demands of empty-nesters, young professionals and non-traditional families seeking down town housing, while still providing choices that are affordable and accommodate parents and children
- Provide locational opportunities for nonprofit institutions and non-traditional, innovative businesses
- Foster the development of smaller-scale performing arts, museum and gallery spaces
- Create synergies with adjoining neighborhoods including Shaw and the growing downtown
In addition to these objectives, vision, land-use and economic goals were established. These included creating a truly livable, majority residential, mixed-use neighborhood with a core of creative activity, a “smart” neighborhood that is wired for the latest technology, and a great address for institutional, non-profit and corporate tenants. They also included working within existing zoning requirements, with the exception of new overlays, to achieve a mixed-use build-out of residences, offices, hotels, cultural uses and retail.
Finally, they included investing and guiding District and Alliance resources toward accelerating the Triangle’s development, maximizing tax revenues and job creation for the District, and enhancing the value of all properties within the Triangle.