PA 315 ECONOMIC DEVELOPMENT ESSAY

Vermont Corridor Design & Development Proposal

Presented to

The Community Redevelopment Agency By

Community Development & Design Forum (CDDF) School of Policy, Planning, & Development

University of Southern California

Dr. Tridib Banerjee, AICP, Director CDDF Deepak Bahl, Associate Director Ajay Garde, Research Associate Karen Hsu, Research Associate

Pakshi Rajan, Research Associate

November 19, 1998

Presentation Outline • Stage I: Findings

– Physical conditions – Social conditions – Economic conditions – Business survey results

• Stage II: Vision & Recommendations

– Vision – Scenarios

• Short Term: Minimal Intervention • Long Term: Final Scenario

– Recommendations • Physical Development • Economic Development

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Land Use

• Land use predominantly commercial mixed with various institutional uses flanked by residential edge within short distance

Housing Stock • Housing stock is old - in need of rehabilitation • 57% of the housing stock in the study area was built before 1960.

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15% 13%13%14% 20%

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University Park Neighborhood LA County

Underutilization & Deferred Maintenance

• Vacant lots and under-utilized lots are scattered throughout the Corridor

Non-conforming uses, buildings lacking maintenance and incidences of graffiti are observed in all segments of the corridor

Lack of Identity/Image • Most of the street-front

businesses have collapsible iron shutters or grilles; parking lots have chain link fence or iron grilles that project an unsafe image of the corridor

• Instances of broken curbs, sidewalks, and street surfaces are abundant all along the corridor

• Melange of signage using a variety of elements

Parking

• Significant demand for parking in the Lower Middle and Upper Middle segments due to – USC and significant unbroken long

edges that rules out any side street parking opportunities

• Demand for parking in Lower Vermont is low

• In Upper Vermont demand is partially alleviated by side street parking

Demographics

• Ethnically diverse community

• Median household income of the Project Area is less than $20,000

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Crime

• Level of crime is steadily decreasing in the corridor

• Upper Vermont has least number of incidences of crime (per capita) in the corridor

• Upper Middle, Lower Middle and Lower Vermont have relatively high levels of crime

• Perception of crime in the corridor in general is high

• 80% of the merchants surveyed in Upper Vermont suggested that reduced crime would improve their business

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Economic Conditions • Primary economic sectors in the Project Area* are Service,

Manufacturing and Retail Trade

• Service industry produces a higher proportion of jobs while Retail produces higher proportion of revenues compared to the larger zip code area and County

• During 1990 to 1994, LA County lost 10% of the jobs, while the Project Area lost 18% of the jobs

• Growth in only two industries had significant positive impact on employment: • personal services (+3%) and social services (+2%)

*Project Area includes zipcodes 90007 and 90037

Business Survey Findings

49%

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Location

Visibility

Parking

Customer Base

Accessibility

ADVANTAGES of Locating Business

Business Survey Findings

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Graffiti

Gang Activity

Parking Restriction

Not Enough Parking

Homelessness

Dirty Street

DISADVANTAGES of Locating Business

Business Survey Findings

58%

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Reduce Crime

Improved Night Time Security

Improved Day Time Security

More Parking

Better Lighting

SUGGESTIONS to Improve Corridor

“The Business Wish List”

Vision • Regional Context

– Reposition the Corridor within the larger CBD framework: Nexus with downtown

• Vermont Corridor to be the ideal location for future business and expansion of existing business

– Lively, transit oriented, pedestrian friendly place

– Gateway Project • Retail anchor development to meet

unmet local & regional demand

• Catalytic project(s) to bring people, business, and visibility to the area

Vision • Local Context

– Engine for Business Enterprise • Proximity to USC - access to

technology, skilled labor force, & business entrepreneurs

• Fertile ground for business incubation

– Mixed Use Developments • Allow mix of uses and incomes • Accommodate relatively higher

densities - student housing • Increase “round the clock eyes on the

road” making the area safer, and pedestrian friendly

– Increased Street Activities through • Better street configuration, sidewalk

improvements, increased on-street parking, bike lanes, pedestrian amenities, façade rehab and other transit related improvements

Scenario: Short Term - Minimal Intervention

• Imperative:

– Future development of the Vermont Corridor shall depend on successful and functional partnerships between the property owners, public agencies, community based organizations and other institutions

CRA, MTA, LADOT, USC, Coliseum Commission, LA Business Team, CRTD, Churches, Business Association, Community Development Corporations, and individual stakeholders

Scenario: Short Term - Minimal Intervention

• Initiate catalytic streetscape projects to –enhance the physical conditions of the corridor –make it suitable for private investment –make the Vermont Corridor a transit oriented pedestrian friendly place

• Visible, doable improvements in the public domain –create favorable pre- conditions for private sector investment and business attraction

RATIONALE

Vermont Corridor -- heaviest traveled transit corridor in Los Angeles County

Improvements such as:

transit shelters street furniture pedestrian lighting pedestrian crossings landscaped median landscaping, shady trees etc.

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Bus Shelters

Corridor-wide Physical Improvements

Provide covered bus stops with additional seating in the nearby area

Corridor-Wide Physical Improvements

• Designate seating areas. Extend sidewalk to accommodate benches and bicycle racks

• Develop additional parking along the side streets

• compensate for the existing parking lost (due to the extension of the sidewalks to accommodate designated seating areas

• Improve pedestrian crossings

• Enhance designated areas with planting trees that also provide shade

• Provide public telephone booths/kiosks that can also be used for advertisements that could in turn generate revenue for maintenance of public areas

Corridor-Wide Physical Improvements

Street Lights

Improve sidewalk lighting by using pedestrian scale (globe) lights - a means to ensure night time safety

Corridor-Wide Physical Improvements

Awnings

Regulate the placement (height) of awnings but encourage variety in terms of color and type

ACTIVITIES

S T R E E T

Corridor-Wide Physical Improvements

Encourage outdoor display of store goods

Designate specific areas of the sidewalk where store goods, and sign-boards can be displayed

Phase I--Lower Vermont

View of Lower Vermont

Phase I--Lower Middle Vermont

View of Lower Middle Vermont

Phase I--Upper Middle Vermont

View of Upper Middle Vermont

Phase II--Lower Vermont

Phase II--Upper Middle Vermont

Phase II - Upper Vermont

View of the Side Street

Economic Development Strategies

• Seek out funding from public agencies

– MTA, LADOT, EDA, HUD – other City departments to

initiate catalytic projects

• Leverage private investment – support from private

developers, and financing from lenders to implement early projects

– Recruit new investors – Market the strengths and

resources - involve the LA Business Team

• Promote strategic projects that create development momentum, demonstrate visible improvements and produce early successes

– Public work projects such as streetscape and sidewalk amenities

– development projects such as the Gateway in Upper Vermont

– business incubator, senior housing, retail, and high-tech development in Lower Vermont are examples to jump start the local economy and create a success story

Economic Development Strategies

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Develop public-private partnerships that are mutually beneficial, create jobs and make good business sense

Capture a greater share of economic activity

Develop a mix of uses/projects that promote greater economic integration, and create an economic spillover effect – multi-destination trips

Reduce leakage by capturing a greater share of economic activity generated by employee, student, visitor and business spending

Marketing of these districts in the short-term is critical in raising the visibility of the corridor

Economic Development Strategies

– Create niches in • high-technology sector • multi-media • communications • film • other entrepreneurial

ventures

– to capitalize on the strengths and resources of USC

Economic Development Strategies • Create an Economic

Development Infrastructure

• Promote access to capital by utilizing the

– Community Development Bank – Local Development Corporation – Community Financial Resource

Center – Los Angeles Business

Assistance Centers

– Develop links with business assistance clearinghouse, such as Business Expansion Network to provide financial information and assistance to new and existing businesses

•Create implementation teams for: – corridor-wide marketing – business recruitment strategy – events planning – and streetscape improvements

Economic Development Strategies

• Encourage stakeholder participation in economic development efforts: BID for Vermont

– The Business Improvement District (BID) is a vehicle to bring together property owners and other stakeholders to raise money and implement programs to stimulate desirable economic impacts

– The BID would contribute to make the area a clean and safe place, on one hand, and market programs through materials such as logos, color, brochures, web pages that help upgrade the image of the corridor

– The BID will also provide a unified voice to the stakeholders