The city of Everett, Washington, is still working on a new plan for its downtown, but private investment is already starting to transform the area.
"While city leaders consider the specifics of the downtown plan and get ready to vote on it, market forces already are whipping up property values, transactions and proposed developments. New and out-of-town investors are looking at acquiring properties on the Monopoly board of downtown properties, while longtime local owners watch their holdings gain value."
Included in the new downtown plan are substantial rezoning, revisions to permitted building heights, floor area ratio standards, design guidelines, lowered parking requirements and metered on-street parking.
"As more people look at central Everett as a potential new home, the city's expected passage of the downtown plan is coming at the right time, said Reid Shockey, the city's planning director in the 1970s. Shockey, now a planning consultant, said the document will let developers know up front what they can and cannot do."
Thanks to Allan Giffen
FULL STORY: The city plots the next stage of its downtown renaissance
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