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positive steps by the City, the TIB District still lacks a consistent identity that can serve as a <br />source of pride for the neighborhood, make businesses want to locate there, and pull visitors <br />back again and again. To create a recognizable and authentic sense of place for the TIB <br />neighborhood, the local community culture and character must combine with an improved built <br />environment. <br />Public & Private Investment <br />Deteriorated properties and older buildings lacking architectural character contribute to the <br />negative perception of the TIB area, but also create opportunities for redevelopment. However, <br />current market conditions, including low commercial and residential rents and the lack of <br />household disposable income in the area, do not financially support redevelopment. Feasible <br />market rate mixed use in the TIB District may be at the outer edge of the 20 year <br />comprehensive planning horizon. From the developer's perspective, there also needs to be a <br />reason to live and work in the TIB District. The City must strive to shift market perception and <br />economics in order to attract the type of development envisioned by the community, and <br />improve the feasibility of a potential project's performance. <br />SIDEBAR BOX. City is invested in the TIB neighborhood. The District's redevelopment has been <br />identified as one of the highest priorities for the City in the 2012 Strategic Plan. The City has been bald <br />in a number of actions to try and make a difference and change the character of this area. The City <br />adopted an Urban Renewal Overlay District in the blocks surrounding the S. 144`h Street and TIB <br />intersection, and included changes to the zoning Cade to adjust height and parking requirements. The <br />City invested significant public dollars in the assembly of land for a signature development — Tukwila <br />Village — with the intent that it will catalyze and demonstrate the intensity and quality of development <br />envisioned for the area. With the 2014 purchase of the Great Bear Motor Inn, and the Boulevard, <br />Spruce, and Travelers Choice Motels, the City is a major land owner and will continue to explore <br />public /private partnerships in redevelopment. <br />\ \DEPTSTORE \DCD Common$ \Long Range Projects \2014 CompPlanUpdate \Transportation Corridors \Draft Element \Draft TIB <br />Element—PC Review_5.21.15.docx 8 05/07/2015 <br />