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Tuesday, May 20, 2008

Public Investment Pays Off

Buttermilk & Molasses reports that the mix of public and private investment along Broad Street is bearing fruit. ...

While the most noticeable elements of Broad Street's resurgence are large projects like the new Federal courthouse, the impressive renovation of the National Theater and the new Hilton Gardens emerging from the shell of the former Miller & Rhoads building, it's been the smaller developments that have given the venerable street a new lease on life. In today's Times-Dispatch, reporter Will Jones examines the main street's reversal of fortune:

Broad Street's rise is being fueled on its eastern edge by a host of government projects, including a new federal courthouse and improvements to City Hall, plus the expansion of Virginia Commonwealth University's medical campus on and extending north of Broad. On the western end, near Belvidere Street, the driving forces have been restaurants, art galleries and a mix of small businesses and other ventures.
Now, investment dollars are also trickling into a stretch in the middle -- roughly from Jefferson to 4th streets. City officials haven't attempted to quantify the investments along Broad Street but they easily exceed $1 billion.

Kevin W. Korda said his home-renovations store, Renovation Resources, could have landed in Carytown or Short Pump, but it settled at 18 West Broad St. because of the area's artsy, eclectic mix.
'I liked the idea of developing the urban atmosphere down here,' he said. 'It was really just a diamond in the rough. . . . I saw this revitalization happening here, I just wanted to be part of it.'"

Read the entire discussion on Buttermilk and Molassses.

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