Downtown Gateways

Downtown Gateways

November 23, 2015

Two very exciting projects – the Library Block and Pioneer Ford sites – are poised to move forward in the next few weeks. Both of these projects were identified as part of the 2010 Downtown Revitalization Plan. (Yes, plans do matter!) The revitalization plan outlined four core objectives:

• Add new residential, retail and office space and tenants to the downtown area,
• Establish attractive gateway features that indicate arrival to the downtown area,
• Reinforce the historic character of Main Street, and
• Provide an adequate supply of parking for downtown residents, customers and employees.

Due to the geographic locations of these properties, they are considered gateways to our downtown. I think that most would agree that they are not presenting the image we want for our community in their current state. Both sites are important to the vitality and image of our downtown and, due to their size, have the potential spur additional development and investment in our community.

So what does the future hold? For the library block, we have a development agreement on the table. The proposed project will consist of a new 22,000sq.ft. commercial space which will house the Platteville Public Library, a 43,000sq.ft. 72-room Holiday Inn Express hotel, and the renovation of the current public Library for the Neighborhood Health Partners Clinic. There will be 55 underground and 42 surface parking spaces. You can read more about the library block project  here. The Common Council is expected to vote on this project at their November 24th meeting.

The City is just about to complete the deal to acquire the former Pioneer Ford property. So I would describe the future of this property as being in the “formative” stage. We are seeking public input prior to issuing a request for proposals (RFP) for development proposals. I hope that you will consider sharing your ideas with us during a visioning session at 7p.m. on Tuesday, December 1st at the Mound City Bank Motor Branch.

Both of these projects have required City investment and leadership, which started with the Downtown Revitalization Plan. Redevelopment is challenging. It is much easier for a developer or business to develop in a “green field” (just land-no buildings) with basic infrastructure in place. (As a side note – providing this type of space is part of the strategy we use to attract businesses to our industrial park). With redevelopment, the property must still be purchased, but the price is higher because the developer is buying both the land and existing buildings. In addition, the site must be cleared and often cleaned of contaminants. To help incentivize redevelopment, cities often get involved to help offset these additional costs. In the case of the Library Block, the City is using tax increment financing (TIF) to give the developer a 2 million dollar grant, which will be repaid through guaranteed tax payments. In the case of Pioneer Ford, the City is taking direct control by purchasing the site with the assistance of a half-million dollar federal grant.

Some communities neglect their older, developed areas in favor of green field development. I would argue that a successful city needs both a strong core and new growth. I’m excited to see reinvestment occurring in the downtown gateways and hope that their success enables the City to reinvest in other tired sites.