The government of New Hanover County (NC) is providing a terrific example of using a public-private-partnership to redevelop a converted retail mall that is currently being used for country office space. The resulting plan is a combination of government space, office and retail space, and residential units that are lending to increasing economic activity in the area.
It's truly a win-win situation for everyone, and the success is leading the county government and its private-sector partners to explore additional opportunities. This article is a good summary of what they are doing.
“We know it’s about $20 million over the next 10 or 15 years that we’re going to spend,” said New Hanover County Manager Chris Coudriet. “If we [the county by itself] spend it on this site, there’s really no chance through private investment to generate any of the revenue via incremental gain in the tax base to pay for that $20 million of investments.”
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