Is this possibly where the desire (need?) to add more high density residential units downtown comes in?
So, to amend Spatny's phrasing: if they come+, we can build it.
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+new d.t. residential units
Riverside Info » About Riverside
Retail 1-2-3 "Coming Soon"
(37 posts)-
Posted Thursday Mar 22, 2007 17:07 #
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High density residential is being driven by two things. You need the density to get the project to make sense (an example is Wexford stretching to add onto the Arcade building). Your site costs are lowered by building higher. And mixed use/transit oriented are what most towns are looking for. Supposedly it cuts down on cars but I haven't seen that happen. That's why we should be charging much more per parking variance.
Even if fully built out, there would not the rooftops to suport a tremendous amount of retail.
We still need to do better with what we have now and make better deals with what comes in the future.
Posted Thursday Mar 22, 2007 17:18 # -
Flight, your analyses and information are very welcome.
The Tower with its sewage and the Arcade represent 2 extremes of what is available. I can only repeat that I have heard repeated complaints about rents vs profit margin. That may well be because of insufficient traffic, but marketing Riverside again raises the divisive issue of whether or not people want outsiders here, or whether the stores are here for our convenience. Since retail taxes are a pittance to the village coffers even at a great multiple, I see no reason to raise retail traffic from out of towners. Since it has been repeated observed by the administration and others that sales tax does not really avail, I cannot understand this repeated desire to attract tourists and other out of towners.
I agree that the idea of condos on trains does not reduce cars. It is built on an old model of commuting from the suburbs to the city, when in fact more people commute suburb to suburb. Further, I never owned a car in my life until I moved out here. It is nearly impossible to live without one unless you simply go from here to downtown, and it makes grocery shopping tricky. I think again there is a drive to use plans that we have paid for or that have been given us, namely, to justify past expenditures instead of just cutting our losses.
High density condos do, of course, yield property taxes, which DO count for something and that, of course, is what this is all about. And this begs the question of whether existing tax dollars have been spent wisely or well.
Posted Friday Mar 23, 2007 07:13 # -
Catherine, thank you for your reply.
From following the posts here for the last few months I read about how Riverside can become an architectural destination. And then I see your comment about "seeing no reason to attract retail traffic from out of towners".
It seems on one hand Riversiders want to be known/visited and on the other hand they want to be left in seclusion. That split personality is something that has been around since I moved in and gets to the core of the TIF/TOD controversy.
I think that getting additional retailers and restaurants would be a good thing for Riverside and would be a great thing for our taxes. Another Realtor, Insurance Broker or Service business really doesn't contribute as much in revenue.
Which segue's into your last comment. I have never seen an analysis as to whether condos or commercial buildings produce more tax revenue. In Cook County, commercial buildings are taxed at higher rate (36%-38%) to subsidize the homeowners who pay (18%). That is why residential real estate taxes are usually higher in DuPage for the same priced property in Cook County. If new condos are allowed to be built, will the building as a whole pay more in real estate taxes than a commercial building?
I think we can attract quality retailers if they knew about Riverside and a few improvements were made such as cleaning and triming the planters. Encouraging attractive awnings/signage. And putting some sort of signage on Harlem (at Burlington) and 1st Avenue at (31st and Forest) directing the adventurous traveler to visit historic downtown Riverside.
Posted Friday Mar 23, 2007 13:23 # -
I proposd we do a brochure on the Wright and Prarie houses located here and distribute it at the Wright Studio gift shop, the Oak Park Visitors Center and elsewhere. It would contain a map linking these homes in our Village with those in Oak Park and River Forest. I've tried twice to get this done - first maybe two years ago with the EDC and again a couple of months ago. At the last EDC meeting I asked what had happened to the materials I gave them and they responded, "The Village Manager has it." So far, nothing heard and springtime is fast approaching. Spring-summer-fall there are thousands of archi-tourists traveling to Oak Park and River Forest every week, and we could attract many of those with what we already have. It's a low-buck, no-brainer but it needs doing. Need I say more.
Posted Friday Mar 23, 2007 13:38 # -
Maybe the problem going through the Village. Is there another organization like the Olmsted Society or Chamber Of Commerce that could "sponser" the project? Then we could raise money or time donations to lay it out and get one printed.
Posted Friday Mar 23, 2007 14:14 # -
Perhaps we could talk about that off-Forum? I spoke with the people at the Wright center some time ago, and they would definitely handle and distribute it as there is nothing like that around. Get in touch.
Posted Friday Mar 23, 2007 14:54 #
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