"Donjek :: The Cents of Place Blog" - 5 new articles
Announcing Strong TownsOver the last two years, I have been privileged Here's how we at Strong Towns describe what's wrong in short (and ironic) form:My experience in core cities and suburban areas, and the years of collective experience Chuck and Ben bring from outstate Minnesota, have led us to strikingly similar conclusions. Much real estate in small towns, big cities and suburbs has been developed in a form reflecting fading realities: Exclusive reliance on large cars for transportation; cheap energy; relatively free access to public and private debt. Today, forces ranging from climate change to fiscal stress and an aging population call for us to think harder about how to build durable, successful places. @Strib: Reconnecting Minneapolis' Seven Corners and West BankLike many urban and rural places, Minneapolis and St. Paul each have plenty of underutilized land area. One of Minneapolis' most striking examples is the Washington Avenue "trench," a 1960s-era highway that today splits the Seven Corners area, the University of Minnesota's West Bank, and the Cedar-Riverside neighborhood. Current plans call for construction of light rail transit service through the middle of the trench, a station beneath the 19th Avenue bridge, and a pedestrian/transit mall on Washington Avenue just across the river. In tandem, these plans translate to an opportunity for fundamental rethinking of how the trench inhibits the health of the places around it. I have posted a piece about these issues at the Star Tribune (link to that post), and I have included here at the Cents of Place, additional images created by University of Minnesota graduate students of architecture working with adjunct professor Mic Johnson, also of Ellerbe Becket. My thanks to Mic for his permission to include these images. Donjek Project: Picturing Value in Walkable NeighborhoodsOver the last several months, I have been working with developer and consultant Michael Lander (Lander Group) and urban designer Peter Musty (Peter Musty LLC) to develop a concise, visual statement about the prospective impact that transportation investments can stimulate. Hopefully, you'll find the graphic product below clear and persuasive - and you can download a pdf version here if you prefer. Low Interest Rates, High Anxiety BorrowingMoney is cheap today. In a conversation yesterday with developers, low rates seemed to make it only more aggravating that lending remains a challenge to procure for new construction or rehabilitation.
Measures to gauge risk as perceived by banks (such as the “TED spread,” shown, and swaps spread) suggest that lenders are currently charging interest rates much closer to the risk-free Treasury yield than they have since the spring of 2007. That ought to mean that lending is flowing more readily for projects with strong fundamentals. Still, looking at interest rate graphs ignores multiple issues that confound borrowers – namely, underwriting criteria put in place in crisis. One developer described yesterday, difficulty finding a lender to underwrite a 70% pre-leased commercial development in a prime location – soon to be less than 200 feet from a new light rail station, in a growing metro area with a diverse economy. It could be that banks’ perception of risk as illustrated by interest rate spreads has changed – in which case underwriting criteria need to follow suit. @Strib: Twin Cities Gearing Up for Greenways In mid-July last summer, gas prices peaked, remaining in the range above $3.50 per gallon until late September, 2008. One consequence of the spike was a boom in interest in commuter bicycling. July traffic on the Midtown Greenway, the principal bike commuter infrastructure in the Twin Cities, was 30% higher in 2008 than the previous year. An average of over 4,100 cyclists per day used the Greenway at Hennepin Avenue.
Greenway traffic diminished slightly this summer, thanks largely to a 40% drop in the price of gasoline. But interest in establishing a network of greenways has continued to rise. Two new efforts – the Twin Cities Greenways Initiative and the St. Paul Greenway Committee – suggest that the many interests who stand to benefit from an effective bike commuter system are joining together to move it forward.
The Twin Cities Greenways Initiative, inspired by the combination of ridership and development in Midtown, is working with neighbors to explore conversion of residential streets to greenways, linked together eventually in a network to link neighborhoods, schools, open space and commercial areas. “As we talk to neighbors,” said advocate Matthew Hendricks, “we find that 90% of them respond very positively to the idea of converting their streets to greenways.” Auto access would remain to homes via the alleys, as illustrated above. The St. Paul Greenway Committee is stimulating interest east of the river in a facility akin to the Midtown Greenway – to which many in St. Paul have long sought a connection. Led by transit advocates St. Paul Smart Trips, the committee intends to begin planning with neighborhoods, to determine which connections will link high-priority destinations most effectively.
Greenways play a key role in a transportation system where implemented. They also enhance property values – a case proven by numerous studies of comparable cities. Gas prices will rise from current levels in the future, and providing affordable choices for getting around is key to our region’s competitiveness and quality of life. Note: This post is also available at the Star Tribune, with fewer images.
All images courtesy of Michael Nelson and Twin Cities Greenways Initiative. More Recent Articles |