Changes in the Downtown Master Plan will create more walkable spaces through the business sector, while updates to the city’s Unified Development Code could accommodate taller buildings and more development density in the downtown district.
Previously, project developers wouldn’t buy downtown space because of the old building code standards. Mayor Josh Schroeder said these building code changes could lead to more diverse business tenants. It also introduces opportunities for future multi-family residential and hotel projects, bringing more potential customers downtown as foot traffic instead of vehicular traffic.
The result, he said, would make the Square “a sales tax revenue engine” for the city, as businesses see increased profits.
“It’s not because [tall buildings] look cool, or look modern like the Domain,” he said. “It’s because you can maximize the amount of sales tax and property tax dollars [generated] in a square footage area.”
Cody Hirt – who owns Golden Rule, Mesquite Creek Outfitters, River & Ranch Provisions and the soon to be open Gold Burger Diner on the Square — said downtown business owners are looking forward to the additional pedestrian foot traffic.
“When the city works with you, like they’re doing [with the Downtown Master Plan], they’re going to bring more people that have never been exposed to [our downtown] businesses,” Mr. Hirt said.
There has to be a good balance between shops, restaurants, bars and other businesses, Mr. Schroeder said.
Kim McAuliffe, the downtown and tourism director for the city, said her office is looking at key spots that can accommodate certain types of businesses. She said the Square could create an experience for visitors who are drawn to multiple businesses.
“If you're walking around the Square, you feel like ‘Oh, I’m getting to see a lot of interesting things in the windows,’ ” she said. “It adds to that experience that people have. It creates that sense of place that people don’t even realize has been curated. We're kind of working behind the scenes to create what we have.”
A lot of the things the city is looking to implement on the development side need to be codified in the Unified Development Code, Ms. McAuliffe said. A vote on the UDC is scheduled for May 28, alongside a final vote on the Downtown Master Plan.
“The [UDC] process and the Downtown Master Plan going on at the same time was really smart, because any recommendations that come from one will go into the other,” she said.
Part of planning for the future economic development of the city includes supporting current businesses, attracting target industries, bolstering small businesses, developing a startup ecosystem, supporting retail development, improving infrastructure capacity and promoting housing diversity.
When looking at the city’s economic development strategy in relation to the Downtown Master Plan, the city wants to bring in local businesses, not large chain businesses. Ms. McAuliffe said they try to bring in businesses that will compliment each other.
Georgetown City Council member Mike Triggs is more skeptical, and said he doesn’t think downtown changes will help the city is get the businesses council members are hoping for.
“Retailers have their own mind. They come down when they know that they can have business and they know what you’re going to do before you do it,” he said.
Additionally, he said during inflationary periods like the one currently happening, residents, especially those who are retired, tend to cut down on their spending. One of the first things to go is eating at restaurants, he said.
Some priority projects for the city, which will be funded through tax revenues, are creating the Rock Street Promenade and the Ninth Street Art Walk.
Both are “big picture” projects that will take pedestrians safely from one side of downtown to the other as they explore businesses and other offerings. For example, the Ninth Street Art Walk, Ms. McAuliffe said, has the potential to drive “a lot of economic vitality.”
“Right now, people kind of do the hamster wheel around the Square; they just stay on the Square and don't really go off [it],” she said. “Having these other attractive places to be, they'll be more encouraged to keep shopping, keep eating, [keep] going off the Square.”
Mr. Hirt said increased walkability, expanded sidewalks and parking garages downtown will be “wonderful” for business owners.
“I think it’s just [going] to make [downtown] so much safer,” he said. “But it's also going to give businesses the opportunity to expand out onto the sidewalk a little bit more, and I think it's going to create a really cool atmosphere for patrons that want to come and just hang out and enjoy downtown.”
Everyone in the business community is looking for a space downtown, he said, and current business owners are looking forward to the additional pedestrian foot traffic.
“We’ve always said rising tides raise all ships,” he explained. “I don't think you've seen a competition [among businesses downtown]. Businesses are complementing each other.
“You’re going to see businesses just continue to flourish down here and continue to grow. Everyone is so excited about the changes.”