September 2017 - Parks & Recreation - 60

ECONOMIC BENEFITS

Circus Square Park
Circus Square Park in Bowling Green,
Kentucky, is a 4.6-acre park with a central gathering space that integrates the
construction of a multipurpose civic
park with the adaptive reuse of a historic
structure in celebration of the commu-

The Indianapolis [Indiana] Cultural Trail is a
world-class linear urban bike and pedestrian
park that serves as the hub for the city's
entire greenway trail system.

58

Parks & Recreation

nity's heritage and its future. In 2008, an
underutilized 3.5-acre block in downtown Bowling Green was constructed as
a key downtown recreation activity hub
as part of the Bowling Green Revitalization Strategy. The block was designed as
a community gathering space that serves
as the heart of a revitalized entertainment
district. Organized into four quadrants,
the site contains an outdoor marketplace;
an interactive foundation; a performance
plaza and green, civic gardens; a " Heritage Walk " ; and concessions and bathroom facilities, in a restored 1921 Standard Oil Station. The park serves as a
venue for events, from weddings and private gatherings to festivals, as well as the
annual concerts in the park series. A renovated, historic auto dealership building
on the site was redeveloped and became
home to the Downtown Redevelopment
Authority and the Bowling Green Area
Convention and Visitors Bureau.
While the park was under construction, The Bowling Green Area Chamber
of Commerce opened a new $4-million
building just one block from the park site.
In 2009, the $28-million Bowling Green
Ball Park, home of the Bowling Green
Hot Rods, also opened a short distance
from the park. The Southern Kentucky
Performing Arts Center, which offers arts
and education opportunities for South
Central Kentucky, is the newest addition
to downtown Bowling Green. Occupying more than 69,000 square feet with
a 1,600-seat theater, the facility's total
construction costs were $28 million. A
planned, private redevelopment project, a
mixed-use building estimated to cost $25
million, will be located across from the
park and will feature shops, restaurants,
office space and condominiums.

way has created a powerful " economic
development circuit, " which private investors have raced to plug into. And, the
growth in the assessed value from these
projects has been astronomical.
A 2015 study by the Indiana University Public Policy Institute found that the
value of all properties within one block
of the trail have collectively increased
by more than $1 billion since its construction in 2007. There has also been
increased spending in businesses located along the trail. On Virginia Avenue,
there was more than $30 million in private development in a four-block area
in Fountain Square, which brought 245
apartments and more than 27,000 square
feet in retail space to the neighborhood.
It has also spurred many other developments along other segments of the trail.

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Rundell Ernstberger

turing a distinctive urban design, public
art, history and landscape elements, and
providing a connective, linear-park experience. The hope was that this system
would be a catalyst for economic development, neighborhood redevelopment
and talent attraction in an enhanced atmosphere of culture, art, history, sports
and tourism - all without using local
public funds. The city donated right-ofway for the ICT to be constructed on city
property. The design challenge was how
to reduce the roadway width of major
downtown streets to create space within
the public right-of-way for this enhanced
urban pedestrian and bicycle system.
Although public and private sources
funded the project, no city tax dollars
were used. A $63-million investment has
yielded an unprecedented amount of private investment and key developments
along its trail. Neighborhoods have been
revitalized and entire downtown districts
have been transformed from vacant, underutilized areas to thriving, vibrant,
activated mixed-use communities. The
project's remarkable ability to connect all
areas of downtown in an electrifying new

Strategies to Minimize Gentrification
While there is tremendous economic
benefit to having a park located nearby, there are some things that must be
considered when planning for improvements or for the creation of a new park.
September 2017 - Parks & Recreation

Table of Contents for the Digital Edition of September 2017 - Parks & Recreation
