13th – 15 March, 2006

New Perspectives in

Real Estate Development

In Port of Spain

Welcome

13th – 15 March, 2006

Objectives for today

Review Current State of available residential in Port of Spain

Re-population of POS Higher Density Developments – Myth vs. Fact Roles of the elected officials and Government

approval agencies, business leaders, and citizens

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Where We Are

Why is land and housing so expensive? Availability Access Infrastructure Development Densities Employment Centers Competing interest

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The Ideal Development Environment Re-populating Port of Spain

Zoning and it’s consistent enforcement True Mixed Use Going Vertical Development from the edge of Port of Spain

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Myth 1

Higher density development overburdens schools and other public services and requires more infrastructure

Fact 1

The nature of who lives in higher density housing- fewer families with children- puts less demand on schools and other public services than lower density housing and requires less extensive infrastructure to support it.

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Myth 2

Higher density developments lower property values in surrounding areas

Fact 2

No discernible difference exists in the appreciation rate of properties located near higher density development and those that are not. Some research shows that higher density developments can increase property values

13th – 15 March, 2006

Myth 3

Higher density development creates more regional traffic congestion and parking problems than low density development

Fact 3

Higher density developments generate less traffic than low density developments per unit. It makes walking and public transport more feasible and creates opportunities for shared parking

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Myth 4

Higher Density developments leads to higher crime rates

Fact 4

The crime rates at higher density developments are not significantly different from those at lower density developments

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Myth 5

Higher Density developments are environmentally more destructive than lower density developments

Fact 5

Low density development increases air and water pollution and destroys natural areas by paving and urbanizing greater swaths of land.

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Myth 6

Higher Density housing is only for lower income households

Fact 6

People of All income groups choose higher density housing

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Myth 7

No one in suburban areas wants to live in a higher density development

Fact 7

Our population is changing and becoming increasingly diverse. Many of these households now prefer higher density housing even in a suburban setting.

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The Final Myth 8

Higher density developments are unattractive and do not fit in a low density community

Fact 8 Attractive, well designed and well maintained higher

density developments attracts good residents and tenants and fits into existing communities

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Imagine the Possibilities

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Neighborhood Commercial Center

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Transit-Oriented Areas

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Industrial Sites

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Taking Action

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Taking Action

If you like what you’ve seen, we need to take action. It won’t just happen.

Everyone has a role to play.

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Taking Action

Elected Officials

The Role of Elected Officials: Change the regulatory climate

Update our zoning/land use regulations Change the economic climate

Density bonuses Tax deferrals and reductions Fee waivers

Elected Officials

13th – 15 March, 2006

Taking Action

Elected Officials

The Role of Elected Officials cont. : Change the dialogue

Educate citizens – density brings new amenities, new jobs, new tax revenues, new retail

Change the political climate Build citizen support for higher-density growth

by creating a community-based vision for growth

Assure citizens you will insist on quality

Elected Officials

13th – 15 March, 2006

Taking Action

The Role of Business Leaders: Attend planning meetings to support good projects

Lobby for zoning law changes that allow for higher density and mixed uses

Locate businesses near public transportation and existing infrastructure

Encourage employees to actively support proposals for higher-density housing near jobs and transportation

Business Leaders

BusinessLeaders

13th – 15 March, 2006

Taking Action

The Role of Citizens:

Get educated about the importance of compact, mixed use development and spread the word.

Get involved early in comprehensive community planning. Urge local leaders to create a community-based vision

for future smart growth

Attend planning meetings and insist on: Quality design that fits in with the community Track record of success Integrated with the transportation system

Citizens/Environmentalists

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Discussion Summary

Government and the Private Sectors must both invest in the future by doing their part

There needs to be better communication between all the players

All must be following the same plan to achieve the same goals

We must play as a team not as individuals Win Win Win (The People of Trinidad and

Tobago, Government and Private Sector)