"Good for Busine$$", a November 2011 Heart Foundation of Australia discussion paper, shows the positive benefits of making streets more walking and cycling friendly. The report includes a number of case studies from street upgrades across the globe, including Australia, the UK, America and Europe, and identifies the value that streetscape enhancements bring to an area, including higher rents and the attraction of new business.
The NZ Herald recently reported the changes to the rental environment in the recently upgraded Fort Street Area. With a number of streets currently under construction, and the Central City Master Plan identifying future streets for upgrading, the Heart Foundation report's findings are a timely reminder for us of the benefits of continuing investment into improving the City Centre's infrastructure.
The report has shown that:
- A high proportion of all retail expenditure comes from local residents and workers.
- Space allocated to bicycle parking can produce much higher levels of retail spend than the same space devoted to car parking.
- Many car-borne shoppers are "drive-through" shoppers, stopping to pick up one item on the way to their eventual destination, rather than people for whom shopping is their main purpose for visiting the area.
- It is difficult to estimate the value of non-drive-in spend for main streets. However, it is always bigger than we think.
- Retail vitality would be best served by traffic restraint, public transport improvements, and a range of measures to improve the walking and cycling environment.
Read the full report here.
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