![]() They don’t complain about market demographics they find the wealth and education levels in the area attractive. ![]() They don’t complain about the plan itself indeed, they think the area still has potential. First, let’s identify what they don’t complain about. The most interesting part of the report summarizes comments from White Flint property owners, who comprise a who’s who list of prominent MoCo developers. This map from the report shows the vast majority of land in White Flint is underutilized (areas marked in red and orange) relative to its zoning. And of course the lack of development holds back tax district revenues necessary to pay for infrastructure, so the cycle continues. The lack of financing, along with construction costs and market conditions, has held back development. Developers seeking financing for projects were hindered by the inadequate infrastructure along with the “prominence of underutilized properties.” One of those properties, the mammoth White Flint Mall site, was tied up by years of litigation. Low tax district revenues held back the construction of some of the transportation improvements and other infrastructure necessary to make the area more attractive to investment. It was supposed to raise $45 million in its first 10 years but only generated $12-15 million. Low levels of development led to low proceeds for the tax district. ![]() In simple terms, the planning staff describes a negative, self-reinforcing feedback loop that has no identifiable end. MoCo politicians love to throw around the word “bold” like peanut shells, but White Flint (now marketed as the Pike District) truly deserved the adjective. This combination of high density, infrastructure investment and regulatory exemptions was revolutionary for MoCo at the time and still has not been fully replicated. The council set an infrastructure project list through a resolution and projects in the district were exempted from county traffic reviews. In return, impact taxes were set to zero. Properties inside the taxing district would pay into a fund used to pay for the new infrastructure needed to bring the plan to life. Unlike many county master plans, this one had a mechanism for financing infrastructure: a new special taxing district. The plan required substantial infrastructure investment including streetscaping, a new road network and a bus rapid transit route. And now a new report by county planning staff lays out why.įirst, let’s revisit what White Flint was envisioned to become in its 2010 master plan: a smart growth, walkable mecca around a transformed Rockville Pike which would be transit-heavy and pedestrian friendly. Everyone who lives here knows that vision is still largely unrealized. With a shiny new master plan, a tax district for infrastructure and an assortment of regulatory breaks, the area was supposed to create new high-end high-rises combining office, retail and residential uses that would generate billions of dollars in county revenues over coming decades. Ten years ago, White Flint was regarded as the future crown jewel of MoCo.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |