Beyond the Façade: layering downtown spillover investment

ABSTRACT

In a time when funding for small communities is limited, an analysis of investment strategy is critical. Façade improvement grant programs are thought to spur spillover of both direct and indirect investment in downtown districts by leveraging built capital and harnessing a sense of place. Through case study, with interviews and observational analysis, we empirically analyze this phenomenon in three U.S. communities in the state of Montana; Helena, Kalispell, and Anaconda. Findings show that direct public-private investment through downtown façade grants, administered by downtown-focused organizations in accordance with long-range plans and visions, leverages positive indirect spin-off via supplementary privately initiated renovations and building maintenance. This implies that strategic downtown investment through façade grants generates a multiplier effect, creating layers of return on investment.

KEYWORDS:

• Downtown
• façades
• main street
• placemaking

Acknowledgments

We thank Dr. Gregory Newmark from Kansas State University for his consult and expertise in helping form the Economic Indicators section, along with all the individuals from Anaconda, Helena, Kalispell, Montana, and Kansas State University, who helped inform our analysis and making our study possible.

Disclosure statement

No potential conflict of interest was reported by the authors.