NewsCommercial Corridors: A Strategic Investment Framework for Philadelphia Publication Date: March 12, 2009
Philadelphia’s Local Initiatives Support Corporation (LISC) has released “Commercial Corridors: A Strategic Investment Framework for Philadelphia,” a study prepared by the Econsult Corporation.
Econsult gathered and mapped large amounts of economic data and conducted an econometric analysis to explore the drivers of success in Philadelphia’s 265 commercial corridors. Their findings and data are available online here.
Based on their analysis, the researchers recommend the following:
Do more to capitalize on the competitive advantages that transit access often provides to existing retail locations. Meanwhile, the city should do more to promote transit-oriented development.
Zoning reform should take into account the benefits that chain retailers can provide in some cases.
Encourage business and neighborhood improvement districts.
Create more opportunities to replace vacant eyesores with symbols of care through cost-effective programs like land stabilization and mural arts.