City staff says the 287 Strategic Plan is nearing completion. The purpose and overall goal of the Plan is to identify those strategies and projects that will enhance the Corridor’s appeal to businesses and attract new investments to spur additional economic development within and adjacent to the Corridor.
Economic strategies were identified for the five segments of the Corridor and prioritized based on overall impact, geographic influence, and potential cost versus revenue generation. The next steps will be to start drafting the Plan with the refined strategies and actions.
The corridor accounts for about 25 percent of the City’s tax revenue and jobs but key areas show decline. Analysis shows retail along 287 is underperforming; part because of completion against retail in other parts of the City and in Fort Collins.
In terms of housing there is a shortage of multi-family housing and existing housing lacks easy access to local commercial areas. Staff argues that the corridor provides many transportation options “yet most are inaccessible to a large portion of Loveland’s existing or future residents.
Finally, the north and south gateways need enhancement. Neither entrance has an identity. “Continual investment is needed to improve gateways, civic amenities, and existing streetscape to improve the area’s competitive advantage over other commercial areas and corridors. The Corridor needs to serve as a destination for Loveland and the larger regional market.”
So far the draft plan includes approximately $2.5 million in projects to beautify the corridor and make it function better. However, none of the projects have been included in the capital budget. The Council will have to approve the plan once the staff and its consultants are done gather public input. It is currently scheduled for adoption by July 2015. Read more about the plan here: http://www.287strategicplan.com