Parks and public spaces can be economic engines that attract businesses and investment. Chattanooga, Tennessee transformed its economy through investments in its riverfront and downtown parks between 2000-2008. A $120 million public-private partnership funded new parks, plazas, docks, and attractions along 126 acres of the Tennessee River. This included Renaissance Park, Chattanooga Green, and First Street Plaza, generating over $2 million annually in property and sales tax revenues. By 2008, Chattanooga was adding residents, tourism was growing, and downtown development was ongoing, proving that investments in public spaces can have tangible economic benefits.

1. Parks As Economic Engines…
Destination Bayfront
Corpus Christi, TX
May 14, 2013
Ken Hays
Kinsey Probasco Hays
Chattanooga, TN

2. Corpus Christi
Chattanooga

3. 1950 - The Dynamo of Dixie
•Rail, air, river and highway hub
•Manufacturing Center
Iron and Steel
Glass
Chemicals
Yarn/Carpet
Pharmaceuticals
•Plentiful workers
•Cheap energy, low cost of living
•Growing suburbs

4. Chattanooga is the dirtiest place in
America……thanks to having the worst
Air quality in the nation…..
Walter Cronkite 1969

5. Between 1969 and 2000……Cleaned up air
and water

6. Re-discovered and reinvested downtown

7. Built Aquarium, Tn Riverwalk & Walking Bridge

8. Opened downtown cinema, restaurants,
baseball park

9. Coolidge Park - a case study - 1997
•First regional urban park
•Showed high quality parks attract businesses
•Gave a reason to cross the river

10. What we had learned….
•Working together works
•Take advantage of existing assets
•Form public private partnerships
•Treat everyone as a stakeholder
•Do everything of highest quality
•Nothing stands alone – design of the
whole matters

11. Celebrated together….a lot

12. But by 2000….
•Still hadn’t engaged downtown river’s edge
•Had challenged downtown attractions
•Needed to attract more investment

13. 2000-2002
•Reconsider Riverfront Parkway

14. 21st Century Waterfront Plan 2002-2005
•Unique fundraising partnership - $120 million and 126 acres
•Expansion of three major downtown attractions
•Public Amenities
•Over 30 acres of new parks & plazas
•Over 2,000 feet of boat docking
•Improved street connections, pedestrian bridge
•$1.2 million in public art
•600 ft pier into Tennessee River
•Parking, playgrounds & performance venues
•Water features, reconstructed wetlands

15. Renaissance Park - 2005

16. Renaissance Park - 2005

17. Renaissance Park - 2005

18. Renaissance Park - 2005
Construction Values:
$61,000,000
Property Tax Revenues:
$1,141,846
Sales Tax Revenues:
$530,000

19. Chattanooga Green-Ross’s Landing - 2005

20. Chattanooga Green-Ross’s Landing - 2005
Construction Values:
$12,000,000
Property Tax Revenues:
$200,000
Sales Tax Revenues:
$300,000

21. First Street Plaza & Sculpture Park - 2005

22. First Street Plaza & Sculpture Park - 2005

23. First Street Plaza & Sculpture Park - 2005
Construction Values:
$58,000,000
Property Tax Revenues:
$874,918
Sales Tax Revenues:
$75,000

24. By 2008 – The Tangibles
•City adding population
•More tourism & festivals
•Ongoing downtown development

25. This decision was about more than just a site. I
always said it would be based on something
intangible… something in our gut, or maybe
better, something in our hearts.
As we stand here today and look out across
those spectacular mountains and river and
enjoy the warm welcome of the people of
Tennessee, the intangibles are suddenly very
tangible.
Stefan Jacoby, CEO VW America, 2008