Montgomery, Alabama: Downtown Masterplan- Economic Analysis

Montgomery fountain

Montgomery Alabama has one of the most historic downtown areas of any city in the United States. Our assignment required understanding and being able to demonstrate how the historic downtown was a potential asset in the marketplace. As part of a team led by Dover Kohl & Partners, Urban Advisors analyzed real estate markets and provided strategies for implementing change in Downtown Montgomery. Our research showed that the city was suffering not from a lack of market support, but from non-market factors requiring a community based economic development strategy to bring new opportunities. Working with the design team and the public,we enumerated the challenges and provided design, implementation and regulatory plans for reaching achievable short and long-term development of housing, retail and office. This was accompanied by specific strategies for each development type, listing supportable square feet of retail categories and office space. Together with Zimmerman Volk Associates, we determined the target market and identified the supportable number of different urban residential products. Financing strategies included identified sources for small businesses, renovation of buildings in the historic district, and neighborhood revitalization. Ken Groves, planning director, notes that of 20 recommended projects, 10 are now being implemented successfully.