Next week’s Medford Urban Renewal Agency (MURA) Study Session will present the initial analysis of two potential areas for consideration as a future urban renewal district. MURA has engaged an outside analytics agency to prepare a preliminary financial screening to determine the financial capacity that might be realized for future urban renewal activities, and to identify potential land use considerations.
An initial projection of financial capacity is of primary importance to establish the scope of projects that might be feasible. This initial screening considers general goals and objectives for the areas but does not propose specific undertakings.
Staff seeks the Board’s input regarding the two study areas, their alignment with Council Goals and Board objectives, and whether to take one or both forward for more in-depth analysis.
MURA has contracted with Elaine Howard Consulting, LLC to provide initial analysis of potential future uses of urban renewal in Medford. Elaine Howard Consulting has subcontracted with Tiberius Solutions LLC for the financial analysis for this work.
MURA manages the City Center Revitalization Urban Renewal Area which is expected to terminate taking division of tax revenues in 2025. MURA is interested in reviewing the future potential of urban renewal for two areas, the West McAndrews-Jackson Park Study Area (Study Area One) and Riverside/Central Study Area (Study Area Two). These two areas are vastly different and, if revitalized, the areas will meet different city goals.
Study Area One presently contains a mix of industrial uses (light, general and heavy) along with areas of commercial and residential uses with a General Land Use Plan designation of Heavy Industrial, Commercial, Urban Residential High Density, and a limited amount of single family. Study Area One has potential within the urban growth boundary for higher density, mixed use development in the future.
Study Area Two Area encompasses Riverside Avenue and Central Avenue, the main streets through downtown Medford, from Stewart Avenue to W 10th Street. The existing improvements are typically one floor commercial uses with off street parking. The study area is zoned heavy commercial, regional commercial and general industrial. The land use plan designations are heavy industrial and commercial. The goals of this area would be to redevelop the area in urban form. New development in this zoning area is required to comprise housing as 30% of the development, turning it into a mixed-use neighborhood.
Potential urban renewal projects would improve the transportation system and provide projects and programs to facilitate new development in the area. Some potential projects could be transportation upgrades, realignment of Riverside and Central. Multimodal transportation alternatives and on street parking.
Development Incentives could include,incentives for affordable housing, incentives for high density housing, and building rehabilitation to improve the look and function of the buildings in the areas.
As these proposals move forward, Medford Alert will continue to provide updates as they become available.
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Source: City of Medford