Cambridge Core Areas Revitalization Strategy

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Cambridge Core AreasRevitalization Strategy
CURA Report February 2004
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Cambridge Core Areas
Hespeler Village
Preston Towne Centre
Galt City Centre
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The Cambridge Core Areas
Galt City Centre
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The Cambridge Core Areas
Preston Towne Centre
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The Cambridge Core Areas
Hespeler Village
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Cambridge Core AreasRevitalization Strategy
Main Goals

• Improve Infrastructure
• - streetscape, parking areas directional
  signage 2-way reversion
• Create New Features
• - River venues for entertainment River
  Integration Civic Square Cambridge Centre for
  the Arts Fire Museum
• Improve Existing Features
• - Library Expansion Cambridge Little Theatre
  Mill Race Park Amphitheatre Farmers Market
  Facilities

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Cambridge Core AreasRevitalization Strategy
Main Goals

• Promote Core Areas
• - As a destination for investment
• Delivery of City Services
• - Comprehensive Parking Strategy, Coordinated
  Development Approvals
• Increase Investment
• - Financial Incentives Building Revitalization
  Program Public/Private Partnerships

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Ongoing Program Activities

• CARAC
• Core Areas Monitoring Report
• Marketing and Promotions
• Core Areas Preconsultation Process
• Financial Incentives
• Investment Partnerships

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Financial Incentives

• Project Financial Incentives
• - Exemption from Development Charges
• - Development Application Fee Waiver
• - Building Permit Fee Exemption
• - Sign Permit Fee Exemption
• - Contaminated Sites Grant Program
• - Realty Tax Rebate Program

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Financial Incentives

• Building Revitalization Program (BRP)
• - Interest free/partially forgivable loans of up
  to 35
• - Encourages property improvements resulting in
  improved street appearance and building health
• - 20,000 per building max 60,00 per owner
• BRP Design Guide Program
• - 750 grant for professional design assistance
• - Owner selects from list of design
  professionals
• - City receives a copy of plans for information

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Cambridge Core Areas

• Private Sector Responses

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Investment PartnershipsPublic-Private

• Partnerships elsewhere in the City
• - City/YMCA pool and fitness facility
• - Library/High School shared facility
• - City/Investor ice park facility
• Partnerships in Core Areas
• - School of Architecture
• - Woolco Building - RFP

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ProjectsPlanned and Underway

• Planned 2004 Projects
• Galt River Integration Project
• - Mill Race Landing Phase II
• Hespeler Village River Activation Project (Phase
  I)
• - Guelph Avenue Bridge
• - Ellacott Lookout
• Preston Streetscaping Improvements
• - Central Park
• Civic Administration Building Study

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ProjectsPlanned and Underway

• Core Areas Signage Project
• Core Areas Parking Strategy
• Communications Strategy
• Galt City Centre Parking Lot (St. Andrews and
  Grand)
• Hespeler Village Parking Lot (Queen Street)
• Streetscaping
• Hespeler Banner Poles
• Riverside School of Architecture

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Conclusions

• The City of Cambridge Core Areas Revitalization
  Strategy is an award winning program
• Winner of the 2002 EDCO award for the best
  overall Downtown Revitalization and Renewal
  Program.
• Winner of a 2003 Brownie award The City of
  Cambridge was recognized at the 2003 conference
  by winning a Brownie award in the Capital
  Financing and Risk Management category for the
  Contaminated Sites Grant Program.
• Winner of the 2003 EDCO award for the Financial
  Incentives Brochure in the Specialty Publications
  Category.
• Comparison of the indicators illustrates that
  continued implementation of the Core Areas
  Revitalization Strategy is resulting in positive
  impacts on the health and vitality of the Core
  Areas.

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