Downtown Housing Options - Element of a Vibrant, Vital and Resilient Downtown

To live downtown or not to live downtown? There are two big advantages to living downtown. The first advantage is convenience to shops, food, services, friends and neighbors without driving. This produces monetary benefits for the residents in addition to environmental benefits. The other big advantage is for downtown businesses as housing provides them patrons around the clock, every day. Downtown living offers charm, history, and attractive streets with unique architecture- vibrancy. The housing options range from upper floor lofts and condos to townhouses, for sale or rent, offering residents options and affordability.

Why are downtown housing options important?

Housing is a vital element in any downtown. It is a new, but prevalent indicator of downtown success because of the constant flow of foot traffic generated by these residents. It strengthens retail activity and lessens vacancies. A downtown that meets the demand for housing attracts new residents and new jobs, thus growing the tax base for the town making downtown more resilient.

What are the current assets in Downtown Parker?

Downtown Parker has both townhome and apartment living. Parker’s downtown residential vacancy rate is approximately 8%, which supports a recent market analysis finding that more housing is needed in downtown.

Where are there opportunities for improvement?

There is a key opportunity for Parker to create housing options in a more walkable and mixed-use setting. Housing diversity is important in a community as it helps attract new residents as well as retain existing residents looking to downsize. The two largest demographics in the United States are millennials and baby boomers so as Parker’s 55+ community continues to grow and more young professionals come to the area, it is necessary to provide them with the type of housing options that they desire.

How does developing the My Mainstreet parcels improve current conditions?

The My Mainstreet parcels are zoned to allow the type of mixed use environment that can incorporate these live-work-play neighborhoods that are so popular nation-wide.  Developing these parcels will also better the pedestrian infrastructure of downtown including adding more connections and amenities.