Gay Street and Cumberland projects highlighted as examples of how TIFs and streetscapes spur private investment

Rebecca Jane Justice and Ben Bentley presented several case studies the city uses to show mechanics and outcomes of public-private partnerships.

Justice described the 200 block of Gay Street as a publicly led RFP that converted a surface parking lot into a mixed-use development. "This was a $30,000,000 investment, and the support was tax increment financing at $3,700,000," she said. The project includes 53 condo units (including workforce units) and about 20,000 square feet of retail; Justice said the development was about 50% sold at the time of the workshop.

Justice also discussed the Cumberland Avenue streetscape project, which the city financed with roughly $25,000,000 in capital investment to improve multimodal safety and walkability. She said that public investment has helped attract private development along the corridor and described the private leverage as "around $1,000,000,000" in private investment.

Both presenters used these case studies to illustrate how targeted public investments (structured parking, streetscapes, façade programs) can change the financial feasibility of nearby projects and make redevelopment financially possible in areas that would not otherwise attract the same level of private investment.

Council members praised the results and noted the projects' role in increasing downtown housing and retail activity; Justice and Bentley emphasized that each project is assessed individually and that incentives are negotiated to meet development priorities, including mixed-use ground-floor retail and workforce units.