13 th – 15 march, 2006 new perspectives in real estate development in port of spain welcome
TRANSCRIPT
13th – 15 March, 2006
New Perspectives in
Real Estate Development
In Port of Spain
Welcome
13th – 15 March, 2006
Objectives for today
Review Current State of available residential in Port of Spain
Re-population of POS Higher Density Developments – Myth vs. Fact Roles of the elected officials and Government
approval agencies, business leaders, and citizens
13th – 15 March, 2006
Where We Are
Why is land and housing so expensive? Availability Access Infrastructure Development Densities Employment Centers Competing interest
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The Ideal Development Environment Re-populating Port of Spain
Zoning and it’s consistent enforcement True Mixed Use Going Vertical Development from the edge of Port of Spain
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Myth 1
Higher density development overburdens schools and other public services and requires more infrastructure
Fact 1
The nature of who lives in higher density housing- fewer families with children- puts less demand on schools and other public services than lower density housing and requires less extensive infrastructure to support it.
13th – 15 March, 2006
Myth 2
Higher density developments lower property values in surrounding areas
Fact 2
No discernible difference exists in the appreciation rate of properties located near higher density development and those that are not. Some research shows that higher density developments can increase property values
13th – 15 March, 2006
Myth 3
Higher density development creates more regional traffic congestion and parking problems than low density development
Fact 3
Higher density developments generate less traffic than low density developments per unit. It makes walking and public transport more feasible and creates opportunities for shared parking
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Myth 4
Higher Density developments leads to higher crime rates
Fact 4
The crime rates at higher density developments are not significantly different from those at lower density developments
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Myth 5
Higher Density developments are environmentally more destructive than lower density developments
Fact 5
Low density development increases air and water pollution and destroys natural areas by paving and urbanizing greater swaths of land.
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Myth 6
Higher Density housing is only for lower income households
Fact 6
People of All income groups choose higher density housing
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Myth 7
No one in suburban areas wants to live in a higher density development
Fact 7
Our population is changing and becoming increasingly diverse. Many of these households now prefer higher density housing even in a suburban setting.
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The Final Myth 8
Higher density developments are unattractive and do not fit in a low density community
Fact 8 Attractive, well designed and well maintained higher
density developments attracts good residents and tenants and fits into existing communities
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Imagine the Possibilities
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Neighborhood Commercial Center
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Transit-Oriented Areas
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Industrial Sites
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Taking Action
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Taking Action
If you like what you’ve seen, we need to take action. It won’t just happen.
Everyone has a role to play.
13th – 15 March, 2006
Taking Action
Elected Officials
The Role of Elected Officials: Change the regulatory climate
Update our zoning/land use regulations Change the economic climate
Density bonuses Tax deferrals and reductions Fee waivers
Elected Officials
13th – 15 March, 2006
Taking Action
Elected Officials
The Role of Elected Officials cont. : Change the dialogue
Educate citizens – density brings new amenities, new jobs, new tax revenues, new retail
Change the political climate Build citizen support for higher-density growth
by creating a community-based vision for growth
Assure citizens you will insist on quality
Elected Officials
13th – 15 March, 2006
Taking Action
The Role of Business Leaders: Attend planning meetings to support good projects
Lobby for zoning law changes that allow for higher density and mixed uses
Locate businesses near public transportation and existing infrastructure
Encourage employees to actively support proposals for higher-density housing near jobs and transportation
Business Leaders
BusinessLeaders
13th – 15 March, 2006
Taking Action
The Role of Citizens:
Get educated about the importance of compact, mixed use development and spread the word.
Get involved early in comprehensive community planning. Urge local leaders to create a community-based vision
for future smart growth
Attend planning meetings and insist on: Quality design that fits in with the community Track record of success Integrated with the transportation system
Citizens/Environmentalists
13th – 15 March, 2006
Discussion Summary
Government and the Private Sectors must both invest in the future by doing their part
There needs to be better communication between all the players
All must be following the same plan to achieve the same goals
We must play as a team not as individuals Win Win Win (The People of Trinidad and
Tobago, Government and Private Sector)