Urban Main Street Redevelopment : a Comparison of the Developer - Driven and the Community - Driven Approach

The newly found interest of private developers and communities to bring back the urban Main Street has brought with it questions about what the Main Street should be. Private developers see the inner city as the next frontier for retail development. Communities are attempting to redevelop their districts both with and without private involvement. The goals of each approach are significantly different and therefore so are the processes. This thesis investigates these two approaches through four case studies: two private developments, Mizner Park in Boca Raton, Florida and Harlem USA in New York City; and two community-driven developments, Washington Gateway in Boston, Massachusetts and Payne Avenue Main Streets in St. Paul, Minnesota. After outlining the characteristics of the two approaches, we review the differences in management structure, target market determination, process for attracting tenants, development process, and the market strategy. From these differences, we recommend solutions that could improve both approaches and propose methodologies that draw on both approaches with the intention of meeting both visions in the redevelopment of the Main Street. THESIS SUPERVISORS: John Riordan Chairman, Center for Real Estate Thesis Supervisor Karl Seidman Senior Lecturer, Department of Urban Studies and Planning Thesis Supervisor Urban Main Street Redevelopment Comparison 2 Amanda G. Strong Alexandra J. Stroud