Planning
to conduct a BID study began following a presentation made by the
Department of City Planning at the February 2007 meeting of the
Raleigh City Council which sought to identify complementary actions
that may spark real estate investment and revitalization along
Hillsborough Street.
A BID was suggested for the area because it
could potentially provide the resources needed to improve the
perceptions of cleanliness and safety, conduct on-going public realm
maintenance, and enhance economic development efforts for the area
through coordinated marketing and tenant recruitment.
Another
potential benefit of a BID would be its ability to "speak for the
street" by providing a unified voice for merchants and property
owners. Over the past few years, the surrounding community’s focus
for Hillsborough Street has been directed towards the transformation
into a "great street and public realm," the enhancement of the
street’s retail appeal, and improvements in vehicular and pedestrian
safety.
Additionally,
The
Hillsborough Street Partnership brings together leaders from the
City of Raleigh, North Carolina State University, the business
community and the surrounding neighborhoods to lend their
collective vision and hard work to efforts to re-energize the Street
- and give back to a community that gives so much. The Partnership
is working effectively to catalyze both public and private
investment within the area, and the formation of a BID could
formalize and further enhance these and other advocacy-related
initiatives.
The
suggestion of the BID follows a major transportation planning effort
for the Hillsborough Street corridor that has evolved over the last
several years. The Hillsborough Street Transportation Improvement
Program includes a menu of planning, construction, and street
enhancement items. Among those improvements is a series of
roundabouts and medians coupled with two miles of reconstructed
street and streetscape.
A formal Request for Proposals was issued in July 2007 seeking
professional consulting services to assist the City of Raleigh in
completing a BID study. Downtown Professionals Network, a research
and planning firm based in Batavia, Illinois, was ultimately
selected to facilitate the study.
