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<br /> \ ~ ~ ~ t ~ ~ <br /> EC4Northwest <br /> ECONOMICS FINANCE PLANNING <br /> Phone • (541) 687-0051 Suite 400 Other Offices <br /> FAX • (541) 344-0562 9911V. 10th Avenue Portland • (503) 222-6060 <br /> info@eugene.econw.com Eugene, Oregon 97401-3001 Seattle • (206) 622-2403 <br /> July 17, 2007 <br /> TO: West Broadway Advisory Group <br /> FROM: Anne Fifield and Kate Coddington <br /> SUBJECT: THE ECONOMICS OF MIXED-USE DEVELOPMENT <br /> Mixed-use development is a common strategy that cities may use to revitalize urban areas. Many <br /> downtown areas have similar, and common types of issues: they may be underused, located in <br /> and nearby blighted neighborhoods. They may have crime, aging infrastructure, or lack attractive <br /> public spaces. They may be well-used office districts during daytime hours, but become deserted <br /> during the evenings and weekends. Mixed-use developments bring together a variety of <br /> uses-such as recreation, entertainment, retail, office, or residential spaces-and their diversity <br /> can address some of these common downtown issues. Mixed-use. developments, because of their <br /> scale, planned character, and impact, can turn around blighted neighborhoods, raise property <br /> values, and stimulate additional development. Their designers can plan attractive public spaces <br /> that can add a sense of place to a downtown.l Or, as is sometimes the case, they can require a <br /> great deal of public and private investment and fail spectacularly. <br /> This memorandum describes what mixed-use development is, some of its advantages and <br /> disadvantages, and some practical advice from previous ECO studies about how cities can make <br /> it happen. It has three sections: ~ . <br /> • What is mixed-use? describes the basic elements and goals mixed-use development. <br /> • Tradeoffs discusses the opportunities and difficulties faced by public and private entities <br /> when thinking about mixed-use development. <br /> • Lessons learned describes some of the lessons ECO has learned from previous studies <br /> about what can help make mixed-use development happen. <br /> WHAT IS MIXED-USE? <br /> According to the Urban Land Institute (ULI), who first began publishing information about <br /> mixed-use developments in 1976, mixed-use developments are characterized by: ~ <br /> 1 Information about mixed-use development in the first two sections of this memorandum, as well as this introduction, is <br /> primarily from Schwanke, Dean, et al, Mixed-Use Development, Second Edition, Washington D. C., the Urban Land Institute, <br /> .2003. <br /> f <br /> <br />