Erie Downtown Development Corporation (EDDC)
- In its first operational year, the EDDC acquired more than 118,000 square feet of underutilized mixed-use property. The EDDC is actively pursuing additional real estate in the Central Business District for revitalization.
- The EDDC is working with national investment funds, philanthropic organizations, and urban planning leaders to leverage investment through Opportunity Funds in the Central Business District.
- The EDDC engaged HR&A Advisors in 2017 to study the real estate market in the Central Business District. The market research found a current need for 750 market rate housing units.
- The EDDC hosted an Urban Land Institute ("ULI") advisory panel in July 2018 to assess the EDDC's revitalization efforts in the City of Erie. The advisory panel consisted of a group of nationally renowned land use and urban planning experts.
- The EDDC is leveraging existing community-developed plans, including Erie Refocused, Emerge 2040, and the Erie Downtown Master Plan.
Acquire and Redevelopment of Commercial and Residential Real Estate
- Concentrate investment in the Central Business District to maximize impact.
- Restore, revitalize and construct mixed-use property in the Central Business District to increase housing stock, dining, entertainment and retail options in the Central Business District.
Attract New Businesses, Residents and Investment
- Market, attract and recruit new businesses and residents to the Central Business District.
- Leverage the EDEF to attract additional investment, including Opportunity Zones, and financial institutions community reinvestment act ("CRA") requirements in the Central Business District.
Support and Enhance the Public Spaces
- Restore and revitalize public spaces through streetscaping activities, improved safety, and pedestrian and bicycle access in the Central Business District.
- Activate and develop programming in the Central Business District to support existing businesses and residents, and incentives further commercial and residential investment.
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