Mix of Uses - Element of a Vibrant, Vital and Resilient Downtown
What does a "Mix of Uses" mean?
A successful downtown should blend civic, cultural, commercial, office and residential uses. Physically incorporating places for work, living, relaxation, entertainment and recreation creates a downtown that draws and engages residents and visitors. A mixed use development is practical because it positions our daily activities in close proximity to one another. A mixed use development can be vertical, meaning it combines different uses within the same building with more public uses on the lower floors and private uses on the upper floors or horizontal, meaning it consists of various single-use buildings with a range of uses on the same parcel. This type of development is characterized as pedestrian-friendly and seeks to foster a community design and development that serves the Town’s economy, community, public health and the environment.
Why are a mix of uses important?
There are numerous benefits to encouraging denser developments in downtown. Mixed-use developments promote walkability, which can help revitalize a downtown by increasing tax revenue, increasing private investment, promoting tourism, increasing property values and supporting a good business environment. Because these developments incorporate a variety of uses and tenants, investors and developers can protect themselves against large vacancies- in essence lessening their investment risk. Downtowns that integrate mixed use projects allow for the effective functioning of all types of businesses, social and cultural activities without using a lot of energy for transportation and logistics, thus increasing the resiliency of downtown.
What are the current assets in Downtown Parker?
Downtown Parker has a variety of land uses. Along Mainstreet, there are restaurants and shops; offices; homes; Sulphur-Gulch Trail and multiple parks; PACE Center and The Schoolhouse; Town Hall and a public library. Parker has worked diligently to diversify downtown by incorporating a mixed use model for development that promotes a vibrant, vital, and resilient downtown.
Where are there opportunities to improve the mix of uses in Downtown?
There is a great opportunity for Parker to integrate more mixed-use developments into the downtown area. This is vital to a towns overall economy as national market studies have shown. Currently, Parker’s downtown has retail and housing vacancy rates as low as 3% and an office vacancy rate as low as 6%, which suggests that the downtown market supports additional space for these uses.
How does developing the My Mainstreet parcels improve current conditions?
Each My Mainstreet parcel is zoned to provide these pedestrian-oriented developments that layer compatible land uses, public amenities, and utilities together at various scales and intensities. A mixed use project will help to meet the market demands when it comes to the current vacancies and high-priced rents in downtown. In addition, this type of growth creates an inviting environment for us to work, live and play.
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