Municipal & Economic Anchor Tenants - Element of a Vibrant, Vital and Resilient Downtown

What are municipal/economic anchors?

Anchor institutions are often the largest contributors to a downtown’s economic stability and strength. Any large business or organization, such as a school or university, government office, cultural space, residences and medium to large retail can be considered anchors. These anchors add to the vibrancy of downtown by creating a place that offers walkability, social interaction, and engagement.  Lastly, they embrace their roles as innovators and community leaders in the revitalization of any downtown.

Why is this element important?

Anchor institutions play a vital role in the local economy for several reasons. First, these types of businesses or organizations tend not to move locations- essentially making them an anchor. Second, they lure people to downtown because people are more likely to go out of their way to visit anchor destinations. In addition, they have the ability to add new jobs, attract investors and help spearhead the creation of downtown partnerships. These benefits will make downtown a more resilient place.

What are downtown Parker’s current assets?

When you visualize Mainstreet in downtown Parker, what do you see as the West anchor? East anchor? In the Spring of 2018, construction of a large development project that includes a boutique hotel, 10,000 square feet of retail and a public plaza began, which will anchor the west side of downtown. Currently the east end of town is anchored by two municipal institutions, the Douglas County Library and Parker’s Town Hall.

Where are opportunities for improvement?

There is an opportunity to provide a unique anchor at the east end of Mainstreet, a place that people would be willing to go out of their way to patronize, which would certainly generate more foot traffic. In addition, more connections can be made downtown supporting a more pedestrian friendly environment.  Downtown contributes approximately 5% to the overall sales tax, which is considerably low for a downtown. By providing the missing economic anchors on the west and the east ends of downtown, the sales tax revenue can increase further contributing the vitality and resiliency of downtown.

How does developing the My Mainstreet parcels improve current conditions?

One of the key findings in a recent market survey for downtown Parker found that the Pine Curve site at the intersection of Pine Drive and Mainstreet should be developed as an anchor for the east end of downtown and that this site would help support and catalyze a mixed-use development. The development of these parcels will add missing connections to downtown and afford more sales tax dollars, in turn stimulating the Town’s economy.

Anchor institutions are often the largest contributors to a downtown’s economic stability and strength. Any large business or organization, such as a school or university, government office, cultural space, residences and medium to large retail can be considered anchors. These anchors add to the vibrancy of downtown by creating a place that offers walkability, social interaction, and engagement.  Lastly, they embrace their roles as innovators and community leaders in the revitalization of any downtown.

Why is this element important?

Anchor institutions play a vital role in the local economy for several reasons. First, these types of businesses or organizations tend not to move locations- essentially making them an anchor. Second, they lure people to downtown because people are more likely to go out of their way to visit anchor destinations. In addition, they have the ability to add new jobs, attract investors and help spearhead the creation of downtown partnerships. These benefits will make downtown a more resilient place.

What are downtown Parker’s current assets?

When you visualize Mainstreet in downtown Parker, what do you see as the West anchor? East anchor? In the Spring of 2018, construction of a large development project that includes a boutique hotel, 10,000 square feet of retail and a public plaza began, which will anchor the west side of downtown. Currently the east end of town is anchored by two municipal institutions, the Douglas County Library and Parker’s Town Hall.

Where are opportunities for improvement?

There is an opportunity to provide a unique anchor at the east end of Mainstreet, a place that people would be willing to go out of their way to patronize, which would certainly generate more foot traffic. In addition, more connections can be made downtown supporting a more pedestrian friendly environment.  Downtown contributes approximately 5% to the overall sales tax, which is considerably low for a downtown. By providing the missing economic anchors on the west and the east ends of downtown, the sales tax revenue can increase further contributing the vitality and resiliency of downtown.

How does developing the My Mainstreet parcels improve current conditions?

One of the key findings in a recent market survey for downtown Parker found that the Pine Curve site at the intersection of Pine Drive and Mainstreet should be developed as an anchor for the east end of downtown and that this site would help support and catalyze a mixed-use development. The development of these parcels will add missing connections to downtown and afford more sales tax dollars, in turn stimulating the Town’s economy.