Is the Market/Elmwood corridor a good investment for Roanoke city?
Roanoke's Market area | Courtesy of Arcadia Publishing
Earlier this week, the Roanoke City Council received an update on its planned $4.7 million “renovation” of Elmwood Park and also heard an unrelated pitch by Downtown Roanoke Inc. President Sean Luther and developer Lucas Thornton to rework Market Square into more of a pedestrian focal point.
The pitch for Market Square — which would involve removing the parking and planting trees around the two small lots across from the Market Building for more vendor stalls and a gathering space — was somewhat vague about financing at first, but it then became clear that Thornton hopes the city will invest the $250,000 he thinks it will take to make his plan a reality. It is, he said, a public space.
The city council seems open to the plan. Here’s a line from my story on Tuesday: Vice Mayor Court Rosen noted that by next year, the city will have invested about $20 million into the market corridor — including renovations of the Market Building, Market Garage and a planned reworking of Elmwood Park. He suggested that spending another quarter-million on Market Square may be a wise investment, particularly if it’s completed by the time Center in the Square is set to reopen in the spring of 2013.
Here’s how that $20 million is roughly figured:
– $6.6 million to renovate the market garage.
– $7.9 million to renovate the Market Building.
– $4.7 million that’s planned to renovate Elmwood Park.
That adds up to $19.2 million, so I’m guessing that Rosen rounded up.
Last month, Dwayne Yancey and I discussed the back-and-forth on the amphitheater that’s planned as part of the Elmwood Park improvements.
But what about widening that a bit to consider the city’s investment in the greater corridor between the Market Building and Elmwood Park? Do you think this is a good investment of taxpayer money?
Is this the 21st Century version of Design ’79? Or is it a boondoggle? Come to think of it, was Design ’79 a boondoggle?
Will this investment draw visitors, spur business and attract private sector development? Or is it a waste of money?
– Mason Adams
July 5, 2012 - 10:54 AM
Hi Mason…..With each decade, downtown Roanoke seeks its “wow” moment…..It happened with Design 79, in the 80′s, the 90′s, the 2000′s and now in the 2000 teens…..That’s great, and shows the vibrancy of Roanoke’s downtown to change and to adapt to new trends……Good for the Noke!!!!……One thing hasn’t changed:……Roanoke still has the oldest, continuous farmers market in the Commonwealth!!!!!…..Again, good for us……It remains important for Roanoke, time and time again, to invest in new ideas and projects while we keep the best of what we’ve got……Good for the Noke…….DAB
I think the reworking of the the market corridor and reworking of Elmwood Park will be great for the homeless. Now they will have two more places to hang out besides the downtown library. It’s great that Roanoke has the homeless in mind and making change just for them. Way to go Roanoke!
What is the projected ROI in real time and dollars? Is the $20 million the totality of the funding or do these projects involve state and federal monies as well?