For Economic Growth, Make Downtown Revitalization a Priority for the Holidays and Beyond

Successful downtown revitalization helps rebuild the heart of a community, often restoring buildings and public spaces central to community nostalgia and historical commerce. Revitalization projects offer a unique blend of past and present when executed well, creating unique opportunities for residential and business growth. However, downtowns are a frequently underutilized asset in the economic developer’s toolkit. A thriving community core with well-maintained public spaces and mixed-use growth provides a vibrant option for shopping, dining, and living and can often create a show-stopping holiday experience drawing in local foot traffic and regional or out-of-state visitors.

Getting started with downtown revitalization

According to a Brookings Institute research brief on revitalizing downtowns, successful efforts focus on “walkable urbanism,” or a mix of housing, shops, hotels, entertainment, and restaurants. Essentially, dynamic downtowns contain the necessities residents require for daily life while also featuring a blend of fun entertainment and dining options with appeal for both locals and out-of-town guests. Getting started requires taking stock of existing assets and identifying opportunities for growing and developing public amenities, businesses, and housing. Formulate a strategic plan, and develop projects ranging from easy improvements to long-term developments.

As opportunities grow, additional segmenting for key focus areas, such as event marketing or housing growth, can help drive results. Eventually, a separate economic development entity may be needed. Think big, but when getting started, always remember small efforts, such as a trick-or-treat event or adding Christmas decorations to a common area, help grow community awareness regarding downtown revitalization and shine a light on businesses already investing in revitalization.

Partnering for downtown growth

From Main Street programs to economic alliances, downtown growth takes many different paths. Partnering with existing organizations to improve downtown avoids duplication of efforts and provides an opportunity to share resources. For example, Main Street program directors are often experts on local or state tax credits for historical preservation or grant programs focused on downtowns. These can be essential for rehabbing historic buildings or converting them for mixed-use as housing and retail stores.

Maintaining a partnership with the local municipality is also essential for ensuring key components of downtown growth are achieved. For example, Parks and Recreation departments help facilitate holiday activities in public spaces while Public Works is essential for maintaining sidewalks and city services. Other common partners include the Visitor’s Bureau, the Chamber of Commerce, and other economic development organizations. Community groups like litter abatement organizations, garden clubs, and business alliances are also excellent resources when planning improvements as they assist with clean-up campaigns, beautification efforts, and holiday celebrations while serving as year-round ambassadors for downtown. 

Downtown and the holidays

Small businesses and local restaurants and bars are often the backbone of a revitalized downtown. The holiday shopping season from Pink Friday, Black Friday, and Small Business Saturday until Christmas is crucial for small businesses, often generating 25-30% of business revenue for the entire year in 4-5 weeks. Investing in holiday promotions becomes a win-win for downtown revitalization efforts when shoppers line the streets to boost local business revenue and experience a well-decorated, clean, walkable, and bustling downtown first-hand.

Starting small with unified decorations and holiday lights is great, but consider branching into events, such as Christmas tree lightings, special shopping events, and family-friendly holiday entertainment, as soon as possible. Events keep people returning to downtown multiple times through the season and create a familiarity capable of spilling over into year-round support of both downtown businesses and further revitalization efforts.

Already investing in downtown, but ready to level up?

For downtowns with a strong foundation for growth, creating a vibrant atmosphere for living, working, and playing brings new energy to existing efforts. For example, since the COVID-19 pandemic, more downtowns are focusing on placemaking, according to an Urban Land discussion. Placemaking focuses on connecting people via public spaces, and it is central in downtowns reshaping into residential and retail hubs.

Downtown-focused economic development organizations have also found branching out helps support growth. After firmly establishing a downtown program, expanding efforts to adjacent neighborhoods provides new opportunities to pull housing and retail into a land-locked space. In one case study highlighted by Delaware County, Pennsylvania, the Lansdowne Economic Development Corporation, an EDO formed to further borough growth, expanded its revitalization efforts via a partnership with a neighboring borough to improve surrounding residential neighborhoods.

Golden Shovel Agency is a partner to many economic development agencies growing their downtowns. Contact us today to learn more about how we can help with downtown revitalization efforts.