The State of Downtowns Boise-Idaho Final Websmall Dleland

27th Annual Meeting 2014
State of Downtown Boise

PREPARED FOR PREPARED BY
LELAND CONSULTING GROUP

People Places Prosperity
2014
Introduction
Discussion Topics
Introduction Downtown: The Nature of the Place Human Infrastructure and Leadership
Markets and Risk Urban Housing Retail Office/Employment
Primary Private Sector Investments

Some Observations and Lessons Learned

State of Downtown Boise27th Annual Meeting
| 15 April 2014 | Page 2
Leland Consulting Group
Downtown Revitalization
Hope alone is an incomplete strategy.
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Downtown: The Nature of the Place
Downtownthe Heart of the City

The quality and strength of the heart affects the health of
the larger organism.
Growing
Downtown Quality Community Value
High Average Troubled
Changing
Adapting Flexible
Superior
Healthy Struggling
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Downtown District Diversity

18-hour environment:
Retail
Housing Office Culture Entertainment Civic uses Open spaces Open Space
Institutions
Housing
Culture
Retail
Civic
Jobs
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Downtown District Connectivity

Armature of mobility:
Streets
Pedestrianways Bike paths Transit systems Public pulse points
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Downtown Place Making

The process of identifying and revitalizing underutilized public and private spaces that result in the fundamental transformation of community.
~Urban Land Institute
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What Makes a Great Downtown?
Continuity
Attractive design
Historic connection
Sense of place
Human scale
Compact form
Open space
Amenities: Water, public art, parks
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A place for people:

Meeting place Safe and comfortable Social and inviting Vibrant Interesting Sense of pride Return again and again
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Businesses that serve the greater community:

Strong brands and images Marketing and management High retail sales Profitable rents Effective parking Market responsiveness to change
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Downtown and Corridor Investment Pulse Points

Whether a Downtown, corridor, or commercial strip: Use major intersections to create investment nodes Direct public investments to make higher value private investments feasible Achieve pulse points of new mixed-use, high-value community development
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Competitive Nature of Downtowns

Someone some place wants what your Downtown has:
Buying Power
Market Share
Loyalty
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Downtown is a Highly Competitive Business

It requires ongoing:
Strategy and commitment
Focused operations and marketing
Continuing investment
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Universal Downtown Challenges

1. 2.
Attracting new development Attracting people downtown evenings/ weekends Competition from discount stores and/or suburban malls Vacant/underused retail space Parking Shortage of suitable housing Deteriorated image Vacant/underused office space Preservation of older buildings Unattractive building facades Crime (real or perceived) Traffic circulation/congestion
3.
4. 5. 6. 7. 8. 9. 10. 11. 12.
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Human Infrastructure and Leadership
Human Infrastructure and Leadership

Essential to success.
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Healthy Downtowns Require Strong Leadership

Strong public and private leadership:

Champions to take the lead Public sector commitment

An effective downtown organization

Supportive regulation Incentives Public realm amenities
Marketing Management Advocacy Events
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Partnering
Can take place in:
Public-private partnerships
Public-public partnerships Multiparty alliances
Recognize that the most significant investments will come from the private sector. Either a business or a developer will be involved. And most investment starts with the developer who creates a home for business.
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Why Public-Private Collaboration?

Government can no longer do it alone:
Revenues have dropped Under-staffed Under-capitalized Great competition for public dollars Aging infrastructure Under-funded economic development efforts may have limited effectiveness in challenging markets Pursuit of transactions without a more comprehensive strategy Not always target driven
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Why Public-Private Partnerships?

Enhance feasibility of projects that otherwise wouldnt happen
Accelerate investment timeline Provide greater public benefits Achieve significant policy goals Improve quality, scale, or location
and overcome or mitigate barriers:

Physical Market Financial Regulatory Political
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Find the Intersection of Mutual Goals

Long term Defined publicly

Comprehensive plan Downtown plan Regional plan Transportation plan
Short-term Defined privately Available financing Market opportunity Cost of capital Return on investment Personal goals, e.g.:
Enhancing corporate status Pride in quality product Strength in marketplace
Developers and Investors
Public interest
Public perception
Political climate
Local Jurisdictions
End User Wants Satisfaction
Wants Assurance
Wants Flexibility
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Define and Share Responsibilities

Task
Public Maximize pedestrian access Promote development densities Define areas where development will be concentrated Develop a strong commercial core Plan and manage parking effectively Promote commercial land use intensities
Responsibility
Private Joint
Promote residential development near transit/shopping

Promote and provide incentives for infill Promote residential units above grade level retail Promote an adequate amount of retail Establish a wide range of land use activities Encourage a mix of different housing types

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What the Public Sector Seeks from a Private Developer

Developers who know mixed-use and Place Making
Know the public scrutiny and wont back out Have experience in the type of project desired Successful track record
Developers who are financially strong

Equity or an equity source in place Access to debt sources
An open book process

Public engagement Transparent financial agreements Understand public process
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What the Developer Seeks from the Public Sector

Strong political will
Stable city council/planning commission Community support Community and business alignment Favorable (or at least neutral) media
Public financial means

Urban renewal or similar tools Bonding capacity Land control Other needed incentives and mechanisms
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MARKETS AND RISK
Understand Development Risk Management

Development involves risk:

Market, capital, and operating risks

Determined by project type and local conditions Each component must be successful and complement the others Experience is essential Exceed the markets expectations Public-private partnerships help to mitigate risk
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The Greatest Development Risk is the Market
You, Me, Us
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Never Forget: Markets Are Unforgiving
Markets are people and their:

Needs Desires Ability to pay Willingness to pay
With choice, positive price value is essential People reject places and products that are not responsive to their needs, desires, or budget
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Markets Change Timing is Critical

Supply/Demand Inflection Point
Phase II - Expansion
Declining Vacancy New Construction
Phase III Hypersupply

11 10 9 12 13 14 15
Increasing Vacancy More Completions Increasing Vacancy New Construction
Long-Term Average Vacancy

4 3 2 1
7 6
8 Cost Feasible
New Construction Rents
5 Declining Vacancy
No New Construction
16 1
Phase I - Recovery
Negative Rental Growth Below Inflation Rental Growth Rents Rapidly Rise Toward New Construction Levels High Rent Growth In Tight Market
Phase IV - Recession
Rent Growth Positive But Declining Below Inflation & Negative Rent Growth
Legg Mason Wood Walker, Inc. and Leland Consulting Group Source: Legg
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Serving Multiple Markets
Baby Boomers
Age 49 to 67 26% of the national population. Will downsize and urbanize Seek quality experiences and activities to stay healthy May extend employment, including part-time, to recuperate income lost during recession
Generation X
Age 34 to 48 21% of the national population Seek unique, urban, authentic, and edgy experiences Prime family years. Must balance family, work and play. Moving into prime earning potential
Generation Y
Age 19 to 33 28% of the national population Greatest diversity Use technology for social mobilization, at home, work & play Prime apartment rental years Bringing new technology and social habits to higher education and workplace
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Changing National Demographic Trends

Fewer Families More One-Person Households
Aging Society
Higher Dependency Ratios
fewer workers supporting more retirees and dependents
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Generational Preferences
Baby Boomers and Gen Y
Walkable, urban communities

High quality, engaging:

Experiences Activities Good food, and Shopping
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Up to
1/3
(25 Million)
of Baby Boomers are expected to downsize and urbanize, seeing themselves as forever young and wanting high quality experiences.
Sources: ULI, Deloitte, Leland Consulting Group
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Generation X Generation Y
seek unique, urban, authentic, and edgy experiences.
Sources: ULI, Deloitte, Leland Consulting Group
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Growing Diversity
A majority of children are expected to be minorities by the year 2020.

Sources: Census Bureau, Brooking Institution, Leland Consulting Group
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Real Estate MarketsSeek Answers

What is the product? Who will it serve? What do they want? What will they pay? How do you protect the investment?
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Primary Private Sector Investments
Land Use Rules and Realities
Urban Housing
Adjacent residential and urban amenities Safety Large share of one and twoperson households Easy access to employment centers
Lodging
Visitor amenities and attractions Easy access to major thoroughfares Co-location with other hotels Visibility Parking capacity Business and tourists Events and conferences
Restaurant
Proximity to other retailers and restaurants View or attraction Parking capacity
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Land Use Rules and Realities
Retail
High visibility Easily accessible Central location Manageable competitive environment Demographic match Anchor tenants Sense of place, safety, cleanliness Contiguity Parking capacity
Office
Easily accessible Center of a metro region Address status Proximity to suppliers and collaborator firms Parking capacity Proximity to support services Access to intra- and interregional transportation connections
Industrial
Access to intra- and interregional transportation connections including rail, water and air freight capacity Large parcels Parking capacity Trained workforce Access to suppliers Not adjacent to noncompatible uses
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Development Prospects, 2014 Development Prospects, 2014

Inf ill and In-Town Housing
Urban Mixed-Use Properties
Industrial
Senior Housing
Single-Family
Medical Of f ice
Student Housing Apartments Hotels Retail Of f ice 1 2 3 4 5 6 Modestly7

Good
Abysmal
Fair
Excellent
Source: ULI Emerging Trends in Real Estate 2013 survey
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A Value Proposition
Define, design, and implement urban mixed-use lifestyle communities that satisfy the needs of the three principal affected groups.
Developers/ investors Local jurisdictions Accelerate absorption and achieves financial expectations Instill pride and enthusiasm by transitioning from sterile subdivisions to livable communities Create a high level of consumer satisfaction and emotional attachment
End users/ consumers
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URBAN HOUSING
The Past Does Not Reflect the Future
Fundamental changes are taking place. Currently in transition between abandoning old and accepting new realities. State of Downtown Boise
27th Annual Meeting
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A Premise
Profound and permanent changes are taking place in America that are altering consumer behavior and motivation.
Market Depth
Macroeconomic Environment Geopolitical Environment Political and Regulatory Environment
Real Estate Markets and Demographics Consumer Confidence Consumer Attitude Consumer Behavior Developers who understand and appropriately respond to these changes will be the successful community builders of the future. Those who do not will fail or underperform.
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Only
(23 thousand)
27%
of Boise households are made up of 3 to 4 people. Over 65% are made of 1 and 2 person households.
State of Downtown Boise
Source: US Census, ESRI, Leland Consulting Group 27th Annual Meeting

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Downtowns Are Too Tightly Defined

Include adjacent inner city neighborhoods to provide a greater array of housing products.
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Expanded Downtown Geography = Expanded Markets

And housing product variety.
Cottage Housing
Row Houses/ Townhomes
Wood Frame Condos or Apartments
Mixed-Use Mid-Rise
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Incremental Place Making and Urban Housing

It doesnt happen quickly.
Downtown Portland (Pearl District) took 15 years Small steps Developers and market become educated Success builds confidence Move into bigger projects More expensive construction
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Pearl District, Portland
Urban Housing Evolution
Early - 1990-1995 Small 2 to 5 story brick buildings
Later - 1995-2001 5 + story, concrete & steel

Transition 2003 10+ story high rises, steel, concrete and glass

Full Evolution Very sophisticated The district as a place and destination Self market National image
Warehouse/loft conversions Inexpensive construction Sales < $200 per square foot
Condominiums Apartments More expensive, quality construction Sales $200 to $300 per square foot

Towers Costly construction Sales > $300 per square foot
Expanding to submarkets Logical market-supported growth pattern

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Intensity of Development
Strong Correlation
Net Worth
Income Age
Projects typically build into higher densities and greater amenities over time.
Generally, baby boomers are much more amenity sensitive than younger buyers who are more willing to pioneer a district.
Intensity
Time
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The Neighborhood is the Amenity

Access to social and recreational opportunities is crucial for housing.
Neighborhood and Downtown Dining Outdoor Rooms
.0
Anywhere Office
Recreation
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Micro Trends Whats In?

The sum of distinct and diverse downtown and inner city neighborhoods create a complete community.
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Micro Trends Whats In?

Residential communities that offer services and security.
Home Owner Associations managed by professionals
Programmed activities
Sophisticated safety and security systems
Concierge services
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Emotional Draw
For people living downtown.
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Create a Brand, Shape Perception, and Drive Urgency

by focusing on people and their needs.
Lease or sell multiple products at varying price points to a broad and diverse market to accelerate cash flow and absorption while simultaneously reducing risk and financial exposure.
Carefully control development through architectural review to ensure quality and design aesthetic is coordinated and consistent with broader development.
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Anticipate Change
A key task is to anticipate and translate the effects of change into strategic, market-driven business plans that integrate newly defined elements to create successful urban mixed-use residential environments.
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The Market Should Drive the Program and Design

Market reconnaissance and research will reveal market segments and the amenities most likely to attract them.
What is the new granite countertop? To which market?
A key differentiator is a strategic and comprehensive marketing and branding program based on market intelligence
Maximize profit while maximizing sales velocity and staying competitive
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Housing Trends Over the Next 5 to 10 Years

Strong Rental Market Small and Affordable
More InfillLess Greenfield
Downtown (and the Neighborhood) is the Amenity
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RETAIL
I dont think were overbuilt, I think were under-demolished.

~Daniel Hurwitz, CEO of DDR
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Oversupply of Retail Space
Source: ForexLive
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Impact of Internet on Retailing

Online sales continue to grow Pop-up shops test new concepts
Mobile retail is a growing concept
Showroom stores drive shoppers online
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The Renting and Sharing Economy
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Retail Formats Shrink, Right Size, and Urbanize

Walmart Target
Best Buy
Grocery
Walmart: Marketside ~20,000 sq. ft. Safeway: The Market ~15,000 sq. ft.
Source: Retail Traffic Magazine, Supermarket News
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Big Boxes are Being Repurposed

Schools and Childcare Libraries
Churches
Medical Offices
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Big Box Expanding into Downtowns
Ten to 15 years ago, box stores would not have moved into downtowns. Building suburban box stores is simple.
The only standard in developing an urban box store is the lack of standardization. Boise does not have a department store downtown; however, as more housing is developed within the central city area, more retail will follow.
Whole Foods, Pearl District Neighborhood, Portland Oregon
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National Retail Trends
The role of entertainment, art and culture in downtown retail is strong and growing. Entertainment increasingly serves as anchors. As suburban markets saturate, big boxes seek to expand into growing urban markets. Urban formats secure downtown populations with national retailers and box stores.
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Shift in Preference

Ages 9 to 11 prefer malls Ages 20 to 30 prefer brick and mortar Ages 50 to 68 prefer downtown, lifestyle centers
In this post-overstoring, post-overmalling world, there has been a fundamental shift in the way shoppers think about consumption. -Wendy Liebermann, CEO of WSL Strategic Retail
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Retail Development
Many challenges for retailers to find stable markets.

Many retailers are closing their doors. Radius restrictions at the mall has a limitation impact on downtown.
Staples plans to close 225 stores by 2015, around 15 percent of its total chain. Last year, Staples closed about 40 stores.
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Downtown Retail Strategy
Major tenants want to work with single developers who build multiple (12-15) stores at a time. This is attractive because it can bring down rental costs by half, while sales account for 80 percent of what would be at a mall. Department stores are only going to big cities.
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Five Retail Trends in 2014

1.
2.
3.
4. 5.
Outlet Malls Fitness Centers as Retail Anchors Increased Mobile Capabilities Same-day Delivery Services More attractions and Service-oriented Business
International Council of Shopping Centers Annual MidAtlantic Conference, 2014
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Outlet Malls
Due to recent expansion in the past few years, outlet malls are the fastest growing segment in retail, and this is not expected to change.
While they have been previously built on the outskirts of town, outlet centers are moving closer to major cities. Currently, there are more than 225 outlet malls in the US, at least 40 have opened since 2006.
International Council of Shopping Centers Annual Mid-Atlantic Conference, 2014

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Fitness Centers as Retail Anchors
Developers are increasingly looking to gyms and fitness centers to draw from a stream of regular customers. Fitness centers remain one of the last remaining businesses that draw in a physical presence.
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Increased Mobile Capabilities

Bricks and clicks:
Online and in-person sales have combined rather than compete for success (also known as Omnichannel retailing). Consumers can link accounts and smartphone apps to use mobile payments such as Google Wallet and Paypal to make purchases online and inperson.
Source: Google.com/wallet/
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Same Day Delivery
Find in-store item
Pick right color, style, size and price
Next (same) day home delivery
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Add Attractions and Service-oriented Business

Cannot be replaced by the internet.
Hair Salons
Specialty Shops
Restaurants
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Personalizing the Experience
Retailers personalize solutions Integrate technology Smart phones have become a shopping channel Turn waiting time into shopping time
Virtual Grocery Store Shopping
Subway Texco (Home Plus) Grocery, Seoul, South Korea
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Retail Emphasizes Experience

Lifestyle centers: What can we learn from them?

Emphasis on experience Carefully planned continuity and merchandising mix Entertaining street scene Cleanliness, security, and safety Consistent hours
Strong marketing program

Single overarching management
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OFFICE / EMPLOYMENT
American Cities May Have Hit Peak Office
Weak economy
Changing use of space

Changes in technology Self-employment Home-based businesses
Source: New Geography http://www.newgeography.com/content/004033-american-cities-may-have-hit-peak-office
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Office Space
Typical Office User Cost savings
Square Feet per Employee
250
New Target 200 to 225 SF
200
Private Sector Space per Employee
150
1980s
2000s
Current Target (Aggressive)

| 15 April 2014 | Page 82
Pre-Recession Changes in Jobs from Peak Employment

The U.S. job market is nowhere close to fully recovered on a per-capita basis since the crisis.
61 of the 100 largest metro areas are still below prerecession peak jobs as the end of 2013.
- 5.7% - 2.5% - 0.0% + 2.1% + 5.7%
Source: Metro Monitor (www.brookings.edu/metromonitor) Showing the 100 Largest Metro Areas by Population, Change in jobs from pre-recession peak employment through the fourth quarter of 2013
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The Urban Job Base

Employment Growth by Industry Sector, 2008 - 2018
Mining Construction Manufacturing Utilities Wholesale trade Retail trade Transportation and warehousing Information Financial activities Professional and business services Educational services Health care and social assistance Leisure and hospitality Other services Federal government State and local government Agriculture, forestry, fishing, and hunting(3) (2,000) (1,000) 1,000 2,000 3,000 4,000 5,000
(All figures in thousands of jobs.) Source: Bureau of Labor Services
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Downtowns Outpace Suburbs in Growth

Many U.S. downtowns are growing faster than their suburbs for the first time in decades, reflecting shifting attitudes about urban living.
Wall St. Journal
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The Changing Workplace: Salesforce

Organizations are designing offices so employees stay beyond the traditional eight hour day.
Source: First Look: Amenities Abound in Salesforce.com New Hillsboro Office, The Oregonian, September 11,2012
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The Changing Workplace: Anywhere Office

Employers are embracing change to align with work patterns, enable peak performance, reduce costs, and capture greatest return on investment.
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Transforming the Workplace
Personal office spaces are typically occupied 48 percent of the typical work day.*
Time spent working at a desk is usually spent on the computer or phone, which can be done in any environment. Organizations across all industries have been seeking innovative workplace design strategies to gain a competitive advantage for optimized space efficiency, collaboration and creativity.
Common Drop-in Workspaces
Source: CBREs Workplace Strategy group * Figures vary depending on the type of work and focusbut is relatively consistent
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The Changing Workplace

Past Present
Skype Offices, Palo Alto
| 15 April 2014 | Page 89
Vestas HQ, Portland

Phone Booth
Small shared private spaces

Workout facilities & bike storage
Shared meeting spaces & conference rooms

| 15 April 2014 | Page 90
Gen Y Changing the Workplace

Knowledge above title. Seeking challenging and meaningful work, that meets financial expectations. Have a real desire to constantly improve knowledge and skills. Not afraid to change jobs frequently in search of new challenges. Freedom and feedback. Seeking a management style that allows for flexibility, creativity, and a collaborative work environment and managers that judge performance based on results rather than physical presence in the office. Project-based teams. Less hierarchy and more collaboration in the workplace requires more open space and placement of employees based on connections and skills rather than title or siloed departments. Work-life balance. Flexibility is key to striking a work-life balance. The line between work and play is blurred. Technological advances allow employees to work outside of the office. Places with high housing costs require private space and social/entertainment space at work. Socially and environmentally conscious. Preference for sustainability, LEED certified buildings, and companies that champion social causes.
A key impact of Generation Y will be on the orientation of office space: creating an integrated workplace which combines the need for more efficient workspace with flexible meeting rooms and more fun/social space. Colliers
Source: Colliers International , 2012. Image source: GSA.
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The Coming Shortage of Skilled Workers
Fewer young people to replace the retiring Baby Boomers Projected by 2018, almost a quarter of the US workforce will be 55 or older, ages 25 to 34 will also risebut at a slower rate
Percentage of labor by age group from Bureau of Labor Statistics, Occupational Handbook, 2010-11 Edition, http://www.bls.gov/oco/oco2003.html
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Key Lessons: Alternative Workplace Strategies

Work smarter
Be flexible about flexibility (teleworking, mobility) Digitize and implement cloud-based software
Measure productivity, not time spent at desk

HR + IT + RE Focus on gain rather than loss: Create offices worth going to Define the goals of change Recruitment and retention Improved engagement and job satisfaction
Source: Alternative Workplace Strategies: Understanding Process and Approach, Tom Mulhern, 07-06-2011
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People Want a Space They Can Call Their Own

Brand and identity of space Personal lighting Noise control Thermal comfort Sense of place
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Best Practices Goals: Office Development

Productivity and Service Delivery
Employee Satisfaction, Recruitment and Retention

Cost Savings and Value Creation
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Some Observations and Lessons Learned
Up to
2/3
of first owner mixed-use urban developments fail or underperform
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Successful Projects
Successful public-private development projects require a holistic and balanced approach in addition to solid experience.
Market
Finance
Design
| 15 April 2014 | Page 98
New Apartment Pricing
Dont back into the future
Price adjustments become necessary and possible in dramatically underserved markets

Adjust for feasibility while delivering positive price-value
Current market comps
Achievable price of new product
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Economic Development Strategy

Market not big enough? Fish in a bigger pond.
| 15 April 2014 | Page 100
Expanded Market Strategy: Strength in Collaboration

Success through partnership and alliance. Case studies:

Sunset Corridor Downtown Tacoma
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Place Making and Profitability

Enduring, enjoyable places can realize greater revenues and appreciation over time.
Strong Place Making principles

Cash Flow
Low quality Poor design
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Avoid Silo Decision Making

Planners should understand how investors think.
Lenders should understand the built environment.

Real estate should be part of the planning DNA.
Transportation
Too many specialists not enough generalists

Planning
Finance
Design
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Retail: An End and a Means

In mixed-use, retail is a small
part of the overall investment.

Retail builds a sense of place. Retail creates ambiance,
personality, and street scene.

Sometimes illusion is sufficient
(liner stores).
Continuity is critical, but risk can
be reduced through theater and liners.
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Retail
Is the new living room.
| 15 April 2014 | Page 105
Strategic Differentiators
| 15 April 2014 | Page 106
RFQ vs RFP
Simple to Prepare Likely to Generate More Submittals
The lower time investment encourages a larger pool of interested parties. The public agency benefits.
Catch the Interest of Highly Qualified Candidates

Choose the most qualified candidates as finalists. Prepare a more thorough proposal. More likely to produce a thoughtful proposal, because they have a greater likelihood of winning the job.
RFQ
Development teams submit a cover letter, resumes, and qualifications. Information about similar projects the developer has completed in the past.
Complicated and Time Consuming

Development teams typically must submit a thorough proposal including market & financial analysis, & site plans. Requires a significant investment of time, and many guesses about the site and client.
Likely to Deter Many Developers

Because of the significant time investment required, busy or highly qualified developers often conclude the costs outweigh the benefits.
Beauty Contest
Decisions sometimes get made based on the prettiest picture. However, the design is at a very preliminary level that will most likely change throughout the project.
RFP
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Memorandum of Understanding (MOU)

Less complex Early stage Outline deal points Due diligence stage May/may not be legally binding .but politically committing
| 15 April 2014 | Page 108
Development and Disposition Agreement (DDA)

Next step after the MOU Master legal document to structure relationship Legally binding Extremely detailed Roles and responsibilities Recourse
Many, many deal points

| 15 April 2014 | Page 109
Successful Coalitions/Initiatives for Public and Private Investment
Metropolitan Area Projects (MAPS), Oklahoma City OCMAPS for Kids, Oklahoma City Transit Alliance, Denver Coalition for Smart Transit, Denver Chicago Metropolis 2020 2015 Transportation Alliance, Salt Lake City Portland Region Westside Economic Alliance Denver Partnership
| 15 April 2014 | Page 110
Successful Joint Development

Successful joint development requires trust, unified elected officials, strong leadership, supportive media, and a commitment to stay the course. Location, market, capital, and compelling design are all very important; however willing and capable partners are essential.
~David Leland, a long-held belief
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For Copies of the Presentation Please Contact:

Trond Ingvaldsen, Senior Real Estate Director
Phone: 503-222-1600
Email: tingvaldsen@lelandconsulting.com
| 15 April 2014 | Page 112
Envision the Possibilities

Embrace the future
Our best wishes for continuing success for the Great City of Boise!
| 15 April 2014 | Page 113
LELAND CONSULTING GROUP

People Places Prosperity
503.222.1600 www.lelandconsulting.com Strategic Advisors to Public and Private Development

The State of Downtowns Boise-Idaho Final Websmall Dleland

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27th Annual Meeting 2014

State of Downtown Boise

LELAND CONSULTING GROUP

Markets and Risk Urban Housing Retail Office/Employment

Primary Private Sector Investments

Some Observations and Lessons Learned

Leland Consulting Group

State of Downtown Boise27th Annual Meeting

Leland Consulting Group

| 15 April 2014 | Page 3

Downtown: The Nature of the Place

Downtownthe Heart of the City

Leland Consulting Group

| 15 April 2014 | Page 5

Downtown District Diversity

State of Downtown Boise27th Annual Meeting

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Downtown District Connectivity

State of Downtown Boise27th Annual Meeting

Leland Consulting Group

| 15 April 2014 | Page 7

Downtown Place Making

State of Downtown Boise27th Annual Meeting

Leland Consulting Group

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What Makes a Great Downtown?

Amenities: Water, public art, parks

State of Downtown Boise27th Annual Meeting

Leland Consulting Group

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What Makes a Great Downtown?

State of Downtown Boise27th Annual Meeting

Leland Consulting Group

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What Makes a Great Downtown?

State of Downtown Boise27th Annual Meeting

Leland Consulting Group

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Downtown and Corridor Investment Pulse Points

State of Downtown Boise27th Annual Meeting

Leland Consulting Group

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Competitive Nature of Downtowns

State of Downtown Boise27th Annual Meeting

Leland Consulting Group

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Downtown is a Highly Competitive Business

Strategy and commitment

Focused operations and marketing

State of Downtown Boise27th Annual Meeting

Leland Consulting Group

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Universal Downtown Challenges

4. 5. 6. 7. 8. 9. 10. 11. 12.

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Human Infrastructure and Leadership

Human Infrastructure and Leadership

State of Downtown Boise27th Annual Meeting

Leland Consulting Group

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Healthy Downtowns Require Strong Leadership

Champions to take the lead Public sector commitment

An effective downtown organization