Downtown Spokane

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Business Development Strategy

The Business Development strategy is to help generate jobs and economic vitality by anticipating the ongoing and rapid changes in the location, type and requirements of new commercial activity.

Ventures generates new investment in Downtown by marketing the success of Downtown, providing information regarding real estate and public/private sector financing opportunities to retain, expand and recruit new businesses in the areas of retail, office, residential and high tech.

Project Development Strategy

The Project Development strategy is to use the 501(C)(3) tax exempt status of the Downtown Spokane Ventures Association (Ventures) to aggressively push necessary projects by securing public and private funding, ownership and partnership.

The DSP is pro-active in the redevelopment of problem properties, unique development opportunities and public improvements using the Ventures’ 501(C) (3) tax-exempt status to secure and leverage public, foundation and private funding to implement projects.

Ventures

In 1999, DSP created a 501(c)(3) not-for-profit development corporation called Ventures. Ventures has a board of nine made up of DSP and non-DSP members dedicated to carrying out projects, programs, and actions that give life to the "Plan for a New Downtown" and build continual momentum for Downtown.

Ventures is most involved in the business and project development including such projects as the Post Street two-way conversion and pedestrian enhancements, Downtown housing focus groups, housing code amendments, Downtown gateway design issues, and more.

Ventures charge is to articulate through action the policy direction of the DSP.

Go to Downtown Business Profile

Priority Action Items

Develop an aggressive public relations and marketing plan to promote the Downtown renaissance underway in Spokane and the understanding of the regional importance of Downtown to membership and the broader community.
Stimulate housing development by educating local lenders, marketing Downtown living and through the establishment of a private downtown housing development fund to spread initial risk amongst area banks.
Work with the City of Spokane to host a downtown living tour in the Spring of 2006.

Action Items

Facilitate on-going discussions regarding downtown connectivity with the U-District and the North of River Projects.
Encourage program, policy and actions that promote the redevelopment in adjacent Downtown neighborhoods.
Reach out and engage the local brokerage community, in person, through collateral material, and the DSP website to stimulate business recruitment and retention efforts.
Encourage the development of affordable housing and the extension of Downtown green streets to adjacent neighborhoods.
Support the Terabyte Triangle business incubator project for 2006.

Is Spokane Ready for Downtown Housing?