ueda annual summit 2014 - awards of excellence - community connected campus - college town kent
DESCRIPTION
College Town Kent creates a physical and symbolic link between a public university and the city in which it resides. It further demonstrates the positive outcomes which can come about when community, university and regional transportation leadership work together in a Public/Private partnership. The shared goals of the partnership were to provide easier access from Kent State University to the city center of Kent, promote economic development and downtown revitalization and improve the quality of life for the university community and Kent residents. As part of the shared plan a 1,000 foot extension to the existing Kent State Esplanade was created westward to the edge of town center to be both a physical and symbolic link between town and gown. The pedestrian esplanade has been part of the university’s Campus Master Plan since 1906 and now provides a walkable connection to downtown and an attractive gateway into the campus. Over $80 million in public and federal funds and $60 million in private investment were secured to construct a multi-modal transportation center, a 100-room university hotel and 5,000 square foot conference center, and mixed-use buildings for office, retail, eatery and downtown residential living. Three nationally recognized global corporations now call downtown Kent their headquarters. College Town Kent is an example of the transformative power of Public/Private partnerships to maximize the efficient use of limited resources, drive economic development and community revitalization and achieve the shared goals and aspirations in essential town/gown relationships. View the full case study at: http://universityeda.org/value-to-members/best-practice-sharing/awards-of-excellence/2014-awards-of-excellence/awards-of-excellence-2014-finalists/college-town-kent/TRANSCRIPT
Impact of Downtown Kent’s Transformation
• $100+ million invested in downtown redevelopment
– Leveraged $44 million in public investment to attract $58
million in private investment
• 700+ temporary construction jobs created
• 950+ permanent jobs created
• 230,000+ sq. ft. new office, restaurant, residential & retail space
• 4-story, 94 room Kent State Hotel & Conference Center
• Multi-Modal Transportation center inc. bus transit hub & 360
parking spaces
• Historic renovation of 1920’s hotel & retail corridor
• $4 million Esplanade: pedestrian and bike connection to downtown
• $2.2 million increase in annual tax revenues
• 85% growth in Chamber of Commerce membership since 2009
• 64 new business ribbon cuttings since 2012
Connectivity as a tool forrecruitment and retention
• One chance to create a first impression; importance of campus and community “Curb Appeal”
• Significance of adjacent and surrounding environment
• Sense of place through a connection to community
• New options for dining, shopping, working, living and recreating
• Opportunity for positive interactions among broader community
• Public-Private Partnerships (P3)
• Consensus building
• Certainty of Execution
• Complex multi-layered financing
Principles of a Partnership
--Dr. Lester Lefton, President of Kent State University, 2006-2014
“We are proactively partnering in downtown development…an unprecedented physical presence in the downtown area. Linked to the university through our Esplanade, this complex will breathe new life into our campus and the city of Kent. It will undoubtedly create
an environment that draws students, university and city employees, residents and visitors here to live, work and play.”
• New Urban planning & design
• Transparency
• Commitment to ongoing marketing & promotions
Transit Oriented DevelopmentThe First Domino: $21 million TIGER Grant
2013
2010 2011
2012
The Landmark at
Kent• Growing demand for Sophisticated Urban Living
• Attracting university faculty/staff, Millennials, professionals, grad and international students
• A boutique property in the heart of a walkable, vibrant College Town
• Opened 100% leased in April 2014
www.fairmountproperties.com
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