Commercial affordability is a key challenge for local businesses. This research worked with a consortium of partners, including developers, property owners/managers, municipalities, Business Improvement Areas and associations to identify models, tools, and strategies that can work for all stakeholders.
Key Takeaways:
- Affordability is systemic, driven by many factors, including taxes, costs, financing and regulation.
- The market alone does not deliver affordability.
- There are proven models we can follow.
- Education and buy-in are needed.
- The best solutions work for all stakeholders.
- We identified models in the following categories: public sector and regulatory approaches, developer-led affordability and stewardship practices, cultural, arts and legacy business protection, temporary and transitional activation strategies, financial tools, and ownership models.
Download the Supporting Commercial Affordability and Local Business Report.