When I think about what district describes that best in our city, I think Shockoe.
Now before we dive into this whole discussion, we must first look at the big picture. The city of Richmond only has but so much land it can develop. Unfortunately, we cannot annex eastern Henrico, so we have to make due with what we have.
Our land area is extremely small in comparison to the cities with which we aim to compete. As we move forward, we have to develop our land areas as densely as possible while creating the most revenue, attracting companies to move here, and fight to alleviate poverty with the revenue created to fund schools, transportation, and public safety. We must do what is best for our city now, by developing our city the best way possible, by creating the best and most possible sources of revenue, and get people shopping and visiting in our City.
Economically, we have to think about our city's demands.
Right now, it needs a flourishing entertainment district and a tax-generating retail district. We must first develop Shockoe in such a way that tourism can thrive and create new opportunities. Should the city purchase a municipal bond to pay for flood mitigation and a stadium, that flood mitigation and stadium attracts development.
Keep that point in mind, developers see the stadium as an attraction around which they would like to invest their money. That development is then taxed, which in turn pays off the municipal bond.
It is the same concept as a small business receiving a loan and then that small business paying off that loan with the returns that invested loan created. Needless to say, this plan pays for itself. This plan establishes Shockoe as Richmond's entertainment district, a district which could in turn see growth in the tourism industry.
With the stadium in Shockoe, that leaves 60 acres of land on the Boulevard available for retail development. Developing the Boulevard with retail fosters competition with the counties (probably why they don't support a stadium in Shockoe) and gives the city tax revenue that the counties right now have to spend on their schools, their roads, and their public safety.
Leaving the Stadium on the Boulevard means there is not 60 acres for development, it means Shockoe gets left the way it is because developers no longer have the attraction they want to develop around, and then businesses will close down because they will finally lose their hope for a revitalized Shockoe. Furthermore, the fabled idea of developing Shockoe as a Jamestown-like tourist destination in a city of our size does not create the revenue or development we need. Shockoe is also not big enough for the type of retail development that could go on the Boulevard.
Now before we dive into this whole discussion, we must first look at the big picture. The city of Richmond only has but so much land it can develop. Unfortunately, we cannot annex eastern Henrico, so we have to make due with what we have.
Our land area is extremely small in comparison to the cities with which we aim to compete. As we move forward, we have to develop our land areas as densely as possible while creating the most revenue, attracting companies to move here, and fight to alleviate poverty with the revenue created to fund schools, transportation, and public safety. We must do what is best for our city now, by developing our city the best way possible, by creating the best and most possible sources of revenue, and get people shopping and visiting in our City.
Economically, we have to think about our city's demands.
Right now, it needs a flourishing entertainment district and a tax-generating retail district. We must first develop Shockoe in such a way that tourism can thrive and create new opportunities. Should the city purchase a municipal bond to pay for flood mitigation and a stadium, that flood mitigation and stadium attracts development.
Keep that point in mind, developers see the stadium as an attraction around which they would like to invest their money. That development is then taxed, which in turn pays off the municipal bond.
It is the same concept as a small business receiving a loan and then that small business paying off that loan with the returns that invested loan created. Needless to say, this plan pays for itself. This plan establishes Shockoe as Richmond's entertainment district, a district which could in turn see growth in the tourism industry.
With the stadium in Shockoe, that leaves 60 acres of land on the Boulevard available for retail development. Developing the Boulevard with retail fosters competition with the counties (probably why they don't support a stadium in Shockoe) and gives the city tax revenue that the counties right now have to spend on their schools, their roads, and their public safety.
Leaving the Stadium on the Boulevard means there is not 60 acres for development, it means Shockoe gets left the way it is because developers no longer have the attraction they want to develop around, and then businesses will close down because they will finally lose their hope for a revitalized Shockoe. Furthermore, the fabled idea of developing Shockoe as a Jamestown-like tourist destination in a city of our size does not create the revenue or development we need. Shockoe is also not big enough for the type of retail development that could go on the Boulevard.
I'll elaborate on that later.
There is a demand for retail in our city and there are retail businesses that want a place to open up shop in the city to tap into that demand. For those of us that live in the city, we must often travel to the counties to shop for basic needs.
For instance, when it's time to do my Christmas shopping, I make the dreaded trek to Short Pump because it has the best and most options. The city needs something that competes with Short Pump's retail. Desperately!
Developing the Boulevard without retail would not create the revenue our City needs nor does it fill our demand for shopping. Trying to develop retail around the Diamond does not create enough revenue that our City needs and again leaves Shockoe behind. Basically, the two ideas go hand in hand.
Back to Shockoe. With a stadium and it's accompanying development, the area becomes more valuable for future development and businesses. Storefronts that are currently empty will see more businesses move in. All of these businesses would then have to pay taxes, in turn growing the tax revenue of the city even more, revenue that could also be spent on new schools and light rail.
More family-friendly restaurants will move in to replace the select few failing nightclubs that aren't even open during daytime festivals. The over exaggerated stigma about crime in Shockoe will be replaced with an excitingly safe environment because the dark parking lots will be replaced with a Stadium, Kroger, Hyatt, and apartments.
All of sudden, because of this new boom in business growth, you see companies moving in who want to conduct family friendly tours of the area, ideas like year-round carriage rides and walking tours, ideas that you might see in cities like Charleston or Savannah. The story of Shockoe's history could be told to a newly excited visitor. With the Slavery and Freedom Museum and Heritage Site, the story of Shockoe's dark past and bright future can be told. At two other museums, the stories of Edgar Allen Poe and Virginia's Holocaust survivors are already being told. Another museum could open up to highlight the contributions of William Byrd (the founder of Richmond) and William Mayo (who laid out Richmond's original street grid in Shockoe).
Then, you could start connecting with attractions in Church Hill and Capitol Hill. All of this would make the Canal Walk and Riverfront more valuable. You could then see hotels and restaurants popping up along the Canal and a riverfront trail from Rockett's Landing to Brown's Island. You could see major improvements to Chapel Island. You could see an Arena go in the old Fulton Gas Works, which would then entice development to connect Tobacco Row with Rockett's Landing. The Coliseum could then be sold to a BioTech company. City Stadium could be turned into mixed-use residential. So on and so forth.
By doing all of this, Shockoe becomes Richmond's place for fun and tourism.
You see, the master plan of Richmond should not be viewed as each project individually, you have to think about multiple individual projects working together to better our city. The real question here is, are you for or against a vibrant downtown? Our motto moving forward should be this: Protect History and Promote Progress!
You see, the master plan of Richmond should not be viewed as each project individually, you have to think about multiple individual projects working together to better our city. The real question here is, are you for or against a vibrant downtown? Our motto moving forward should be this: Protect History and Promote Progress!
