|
Downtown
Revitalization – Construction Value
What Does This Mean?
Why Is This Important?
How Are We Doing?
Taking Responsibility
- What You Can Do
We Must All Be
Accountable – Improving Trees, Parks & Natural
Areas - Find Out More
What Does This Mean?
Tracking the value
of building permits over time provides an
indication of the development activity that is
occurring in the downtown. Building permit
values are comprised of costs associated with
structure alterations, installations and
construction of new buildings.
Why Is This Important?
Revitalization in
the Downtown optimizes existing infrastructure
and services and does not consume land. Downtown
revitalization is a critical component of smart
growth and essential to realizing compact form
and livable communities.
Back
to Top of Page
How Are Are Doing?
æ
Getting Better
The City’s strong investment
in the Downtown and the infill and
intensification policies of the Official Plan
has the affect of keeping Greenfield development
in check. With over $100 million of public
investment in the Downtown since 1998, the
private sector has become willing to invest in
residential projects themselves. The Downtown
has recently attracted an abundance of new
residential units through new apartment
buildings, large converted commercial buildings
and small-scale convert-to-rent projects.
The Downtown environment has been transformed to
one which is now attracting residents.
1998, the year the Downtown Millennium Plan was
adopted and incentive programs introduced,
proved to be a pivotal year for Downtown London.
Since that time most of the projects and
programs recommended in the Plan have been
implemented and they have now begun to yield
significant returns.
Overall Downtown construction values associated
with building permits increased from an average
of $6.8 million annually in the five years prior
to 1998 to an average of $31.4 million in the
five years after 1998. Since 2001 private sector
construction value has surpassed public sector
construction value by an average of over $4
million annually. Since the completion of the
John Labatt Centre in 2001 the private sector
has invested $37 for every $1 of public
investment.
Prior to 1998 construction of new space was
negligible in Downtown London.
Back
to Top of Page
Taking Responsibility – What You Can Do
Live,
work, play, shop, dine and connect in the
Downtown. Visit
MainStreet London for more information.
MainStreet London is an organization funded by
the L.D.B.A and the City of London spearheading
the revitalization of downtown London through
sponsoring and encouraging façade improvements,
recruitment of new quality retail and business
tenants, promoting safety and cleanliness,
facilitating retail peer support and promoting
downtown events and festivals.
We Must All Be
Accountable – Improving Urban Planning
- Find Out More
Back
to Top of Page
|
