Downtown Living is a Proven Winner

Springfield's Center City is nestled amidst a variety of older neighborhoods with a mix of housing options such as those in the College Hill neighborhood and the South Fountain Historic District. In the Center City alone, more than 700 traditional homes remain. However, much of the downtown living that is lifting the economies of downtowns nationally focus on reusing the upper floors of historic buildings such as that found in old warehouses and office buildings.

Because downtown living is a relatively foreign concept to most developers, financiers and government officials, it is often difficult for communities to get projects started. Community leaders often eye large-scale projects as the key to urban renewal, but the impact of increased residents and use of older buildings can have dramatic and immediate impact.

Affordable Development Options Available Now

Different strategies work in different situations, but there are already several options for downtown living in Center City and more are on the drawing board. In addition to apartments, developers are considering some of Springfield's finest historic buildings for loft apartments and condominiums. While it may already be too late to get the best bargains in larger cities, developers can find excellent development options in smaller cities - including Springfield's Center City.

The Center City Association can serve as a resource for developers looking for good project sites as well as potential residents interested in what's currently or expected to become available. For assistance and information, contact jbaader@center-city.org.

A Smart Investment

A panel of experts convened by The Fannie Mae Foundation and The Brookings Institution Center on Urban and Metropolitan Policy said housing is one of the best ways to revitalize downtown and that current social and market forces favor more downtown housing. Members of the Regional/Urban Design Assistance Team (RUDAT) of the American Institute of Architects echoed that sentiment when they recommended downtown development strategies for Springfield.

According to Rebecca Sohmer and and Robert E. Lang, writing for the Fannie Me Foundation in Life at the Center: The Rise of Downtown Housing, the benefits of downtown housing are plentiful:

• Housing helps create a "24-hour" downtown: a place with retail, entertainment, and dining activity around the clock.
• Downtown residents form a built-in market for downtown retailers and entertainment, thus reinforcing investments already made in cultural facilities.
• Downtown housing reduces suburban sprawl and helps metropolitan areas correct a major jobs/housing imbalance in what is often a region's largest employment hub.
• Developing downtown housing can improve the market for office space by converting class "B" office buildings into apartments, thus reducing vacancy rates in the downtown core and increasing rents for class "A" office space.
• Finally, downtown housing improves a city's tax base (retail, income, and property) while displacing very few people (because so few currently live downtown).

Empty Nesters and Generation X Desire Market-Rate Lofts

While quite diverse at first glance, Empty Nesters and Generation X have similar situations that make living downtown appealing. Neither are concerned with school quality and proximity. Also, they often prefer low-maintenance housing without yard work and home repairs. Finally, both these groups often have the time, money, and interest in downtown amenities. They've seen the suburbs and found them lacking.

The numbers of baby boomers who qualify as empty nesters is growing, while at the same time, young couples are waiting longer to start families if they have children at all.

Senior Housing Leads Center City Living Boom

Senior residential options are leading the development of new housing options in older structures. Shawnee Place Apartments is a testament to the desire for downtown living. This historic structure, once a hotel, now has 84 residential apartments for the elderly with an on-site manager and special features such as a hair salon, group activities and Sunday services.

Meanwhile, at least two other projects are in the works. LW Associates of Ashville is renovating the historic apartment building at 501 S. Limestone into senior apartments that will be within walking distance to the YMCA, Clark County Library, Heritage Center and Springfield Inn. It is expected to open in fall 2002. They have a second project planned for S. Limestone Street in the old Ice House building adjacent to the YMCA that is expected to open in fall 2003.