About Momentum Midland Achieving a community s full potential in terms of economic development and quality of life is critically important to its long term sustainability. Core to achieving this is a vibrant downtown environment, one that provides residential, retail, dining and recreational offerings that appeal to the entire community as well as guests and visitors. While communities across the country, including Midland, have developed plans to address these economic development and quality of life opportunities, few have readily available mechanisms and/or resources to proactively implement their plans. In order to address this shortcoming, a number of cities have adopted an approach that reaches across government entities, economic development institutions, local businesses, community and private foundations, and various civic organizations and leaders to catalyze these plans and advance them to action. Momentum Midland has emerged as an organization in this regard; a back bone organization positioned to leverage past economic development and quality of life assessments, supplemented with recent research work it commissioned, to create a vision of the future of a vibrant Midland. The goals of Momentum Midland are to: enhance the quality of life for the Midland community, attract and retain residents and businesses, and promote continued economic and cultural development. The organization serves as a facilitator, coordinator, and communicator; brokering relationships with land owners, developers, businesses, investors, City government, and economic development entities; and identifying development opportunities for interested parties. Recognizing that a vibrant downtown is critically important to the vitality and competitiveness of Midland overall, Momentum Midland s first effort, the Downtown Midland Investment Initiative, focuses on Downtown. Momentum Midland has the engagement and advocacy support of a wide range of individuals and organizations including: Midland Downtown Business Association ADVISORY COUNCIL DOWNTOWN MIDLAND INVESTMENT INITIATIVE 1
MOMENTUM MIDLAND STRATEGY Utilize foundational assets of the Midland community to more proactively expand economic development and advance quality of life for the Midland community. Build on the unique attributes of the Midland community, its culture and heritage. Leverage the resources and capabilities of investors, businesses, foundations, the City, other government entities and the community at large. Strengthen interaction and communications amongst key stakeholders and the public to identify, develop and implement bold ideas that enhance the vibrancy and long term viability of Midland. FUNDING SUPPORT FOR MOMENTUM MIDLAND The following organizations have provided the initial funding for Momentum Midland: The Charles J. Strosacker Foundation, Chemical Bank, Dow Chemical Company, Dow Corning Corporation, The Herbert H. and Grace A. Dow Foundation, Michigan Baseball Foundation, Midland Area Community Foundation/Entranceways Initiative Task Force, and Rollin M. Gerstacker Foundation. Future public projects are expected to be funded through a variety of sources including: additional individual and foundation charitable grants, corporate support, available government grants and incentives, and private commercial investment. 2 MOMENTUM MIDLAND
Downtown Midland Investment & Implementation Plan Momentum Midland s first initiative, which builds upon previous planning efforts by the City of Midland, Midland Downtown Development Authority and other organizations, has been to develop an actionable road map for downtown Midland. The planning process included a public survey, design workshops, stakeholder and community engagement and real estate market analysis. The master plan addresses land use and market opportunities and provides conceptual plans for catalytic civic/public projects and private opportunities. OBJECTIVES OF THE PLAN Turn Downtown into a more vibrant destination with a greater variety of uses, features and activities to attract diverse groups of people for many different reasons. Reconnect the City with Downtown by transforming auto-oriented traffic corridors into safer, walkable and bikable streets, along with creating seamless development that can help blend Downtown into nearby neighborhoods. Strengthen Downtown as a community hub that connects history, culture, recreation, neighborhoods and the river; reinforces cross town linkages and wayfinding; diversifies the local economy; and strategically positions Midland for the future. Landmark, leverage and link the riverfront by expanding and enhancing trails, parks and recreational activities to make the river a more usable feature of downtown. Transform Downtown into a livable neighborhood that enables a walkable lifestyle in a vibrant downtown setting. KEY COMPONENTS OF THE PLAN There is near-term market opportunity to supplement the significant amount of new downtown development with hundreds of new residential units, a new 80-100 room limited-service hotel, additional professional service office development, and new retail offerings and restaurants. To catalyze new development, several priority, public-space projects have been identified that could enhance the area and serve as catalysts for private development, including a revitalized riverfront area, streetscape enhancements, and improvements to mobility and connectivity. DOWNTOWN MIDLAND INVESTMENT INITIATIVE 3
PROPOSED CATALYTIC CIVIC/PUBLIC PROJECTS Momentum Midland has investment commitment and advocacy support for several priority public-space projects from the City and various philanthropic foundations including: The Charles J. Strosacker Foundation, The Hebert H. and Grace A. Dow Foundation, The Midland Area Community Foundation and The Rollin M. Gerstacker Foundation. By focusing initial investment in these key areas, these improvements could form the backbone for future investment, as well as create a vibrant, attractive and growing Downtown neighborhood. Projects being considered include: REVITALIZED RIVERFRONT AREA - a year-round destination for recreational and cultural events, with enhanced access to the Tittabawassee and Chippewa Rivers, the beloved Tridge, and parks and trails all along the waterways. STREETSCAPE IMPROVEMENTS that would enhance accessibility and usability of the roadway, making it ideal for new uses including festivals, art fairs and other events. IMPROVED MOBILITY AND CONNECTIVITY to allow for improved motorized, non-motorized and pedestrian traffic. This, in turn, could provide an environment more conducive to residential and retail development. As part of the plan, a reduction in traffic lanes along Indian and Buttles Streets and conversion of one-streets to two-way traffic is being considered. ACTIVATED UNDERUTILIZED PUBLIC SITES that could benefit the community and catalyze private residential and mixed-use development. ENHANCED FARMERS MARKET - enhancements to the popular Midland Areas Farmers Market that could improve operations, allow merchants to expand offerings, and draw additional visitors to Downtown. Map of Catalytic Civic / Public Projects 4 MOMENTUM MIDLAND
The Riverfront area could be enhanced to become a year-round destination for recreational and cultural events, with enhanced access to the Tridge, the Tittabawassee and Chippewa Rivers, and parks and trails along the waterways. Streetscape enhancements along seven blocks between Jerome Avenue and Cronkright Street, including updates to sidewalks, landscaping, signage and furniture, has the potential to make Main Street a more livable and environmentally friendly pedestrian spine. Improvements to mobility and connectivity could make Downtown Midland more conducive to residential and retail development, as well connect downtown to adjacent neighborhoods. DOWNTOWN MIDLAND INVESTMENT INITIATIVE 5
6 MOMENTUM MIDLAND 221 N. LaSalle Street, Suite 820 Chicago, Illinois 60601 T: 312.424.4250 F: 312.424.4262 info@sbfriedman.com www.sbfriedman.com
APPENDIX D: Downtown Midland Market Assessment DOWNTOWN MIDLAND PROPERTY OFFERING
DOWNTOWN MIDLAND INVESTMENT INITIATIVE DOWNTOWN MIDLAND MARKET ASSESSMENT December 11, 2015 DOWNTOWN MIDLAND MARKET ASSESSMENT 1
825 E. Main Street Midland, Michigan 48640 (989) 837-1222 www.momentum-midland.org TABLE OF CONTENTS Introduction The Midland Area Private Development Opportunities Residential Office Retail, Restaurant and Entertainment Hotel For More Information 1 3 7 7 10 11 13 15 2 MOMENTUM MIDLAND