Gangi, Palermo - Sicily by Claudio Siragusa on 500px
Buy real estate. It always goes up. That’s the mantra, right?
Few things in life are that black and white.
A small town in Sicily called Gangi is in the midst of a novel urban renewal experiment. They are giving away houses for free to people who will agree to renovate them within a 4 year time period.
Here’s the “free houses” notice from the Comune Di Gangi explaining how it works and who to contact. You have to be an Italian or EU citizen to participate.
Free can be a powerful business model, as we see all the time with tech companies. And sometimes cities and towns aren’t all that different.
So if you’re looking for a vacation home or want to move to Sicily, now might be a great time.
Yesterday I spent the evening walking Toronto’s new Queens Quay Boulevard, which fully reopened this past Friday after a number of years of construction.
It is part of Waterfront Toronto’s revitalization efforts and represents a solid decade in the making. West 8 of Rotterdam and DTAH of Toronto won the international design competition for the central waterfront back in 2006. And this past weekend a big component of that vision was unveiled.
But first, let’s take a look at what Queens Quay Boulevard used to be like. Here’s a Google Streetview image from 2009:
The streetcars ran in the middle of the street. Cars drove on the north and south side on both sides of the tracks. And the sidewalks were fairly small and usually at capacity during the busy summer months. It wasn’t a great street.
Now here’s a photo that I took yesterday from that same vantage point (2015):
The street has been completely reorganized. On the north side of the streetcar tracks is where the cars now drive in both directions. On the south side of the tracks the lanes of traffic have been replaced with a 2-way bike trail (part of the Martin Goodman Trail). And on both sides the pedestrian areas have been greatly expanded. It’s now a magnificent street.
If you haven’t yet been down to the new Queens Quay, I would encourage you to check it out on either foot or bicycle. (If you go on bicycle, let me know and I’ll join you.)
Toronto may have taken a giant step backwards with its recent decision on the Gardiner East, but we also took a giant step forward with the reopening of Queens Quay Boulevard.
dupont survivor by Josemaria de Churtichaga on 500px
I was on CBC radio this morning talking about the revitalization of Dovercourt Village and Geary Avenue in Toronto.
The funny thing about this topic is that it’s one I actually held off writing about. I’ve been thinking about this street and area for probably about 5 years now. However, I do have to keep some secrets to myself :)
But then I started feeling like the cat was already out of the bag. Everyone in my circle was talking about it. So I wrote a post calling Dovercourt Village the next Ossington. I had no idea it would get the traction that it has gotten, but in hindsight it makes total sense. It makes a great headline: “Toronto’s ugliest street to become the next Ossington.” Boom.
The tough question that Matt Galloway asked me this morning was: What happens to all the blue collar businesses when/if Geary Avenue and the area really takes off? My response – given that it was only a 5 minute radio piece – was that it comes down to preservation vs. progress.
This is a topic that I’ve written about with respect to heritage buildings, but the same concept applies to communities as well. How do you allow neighborhoods to receive new investment while at the same time not erasing its past and the things that made it interesting in the first place?
It’s not easy, that’s for sure.
I absolutely believe that there are things that developers can do to respect the neighborhoods in which they build in. But at the same time there are economics at play. In business school, they teach you this:
It’s the lifecycle of businesses and industries.
The key takeaway here is that the rise and decline of businesses is actually quite healthy for markets. History is littered with examples. The word processor replaced the typewriter. The mobile phone replaced the landline. Air travel replaced rail travel. And the list goes on.
Today, I think we’re at a moment in time where our relationship to cars is changing dramatically. How we get around and how we own and operate them is being called into question.
So just because there’s auto shops on Geary Avenue today, doesn’t mean they’ll be there tomorrow regardless of whether the area takes off or not.