Just few years ago, a conventional approach to redeveloping St. Michael’s drive was still feasible. The collapse of the real estate bubble, and with it, the collapse of many other elements of the growth economy, gives us the opportunity to engage in a different kind of redevelopment. Communities around the world are using another model of economic development, based on the capacities of local residents -- ‘development from within’ -- that is suited to St. Michael’s Drive and to the current state of our economy.
But first, let’s review the conventional model for contrast. A typical redevelopment project of the past few decades brings resources, customers, residents, and cultural patterns from outside of the area. Often, local residents welcome the changes, benefiting from increased job opportunities, housing choice, property values, safety, and urban amenities. But just as often, there are serious unintended consequences of gentrification, that leave locals priced out of housing, under-qualified for new jobs, and excluded from new cultural activities.
How can we get started with the ‘development from within’ model in the St. Michael’s area?