No. 2383 contracting the boundaries of the West Washington-Chapin Development Area

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deteriorating condition. Successful neighborhood revitalization will require elimination of existing blighted conditions through rehabilitation or redevelopment. In addition to understanding the market forces that affect the potential for commercial revitalization of the study area, it is also important to assess the economic feasibility of rehabilitating older commercial structures, or adaptive re-use of other structures for commercial activity. The commercial building at the northwest corner of Washington and Walnut was selected for a representative rehabilitation cost analysis. The detailed findings of that analysis appear as Appendix C to this report, while a summary is as follows: o The sample building is the west storefront unit of athree-storefront building of two stories height. The second floor of the unit contains two apartments. In brief, the unit requires an investment of approximately $21,250 for basic exterior repairs, plus $17,330 for minimal interior renovation to the commercial space, for a minimum total cost of $38,580. These are repairs necessary to put the exterior of the house and storefront space into basic code compliance. Repairs to the apartments would cost an additional $36,000 bringing the repair costs to $74,580. o The consultant also prepared a set of rehabilitation options that would upgrade, as well as, repair, the building. The options would cost an estimated $23.00 per square foot, in addition to the approximate $25.00 per square foot for the basic repairs. In addition, the consultant estimated costs for repairing the other two units of the building, which bring the estimated cost for rehabilitating the entire three-unit building to $219,340. As costly as this may seem, at current construction costs, the cost for replacing the building would approach $432,000. o Although a detailed review of current market units has not been made, the minimum costs required to support rehabilitation are believed to exceed rent levels for available space in the neighborhood. The general lack of demand for commercial space suggests that rehabilitation of vacant commercial buildings will not be economically feasible. Existing Zoning Existing zoning for the neighborhood includes a range of residential, commercial and institutional districts. Residential zoning includes three districts, A, A1, and B. The A district is most restrictive and permits single-family and related neighborhood uses. Al districts expand the types of permitted uses to include two-family residences, and the B district permits apartment houses, boarding and lodging houses, tourist homes, and professional type office uses. The A1-Residential district is most consistent with existing residential uses in the neighborhood. Commercial zoning includes two districts. The C1 district permits retail and service uses that are more typically associated with neighborhood service and convenience. A much broader range of commercial uses are permitted in the C district, including such auto-oriented uses as gasoline stations, auto accessory stores, and automobile sales rooms. The C-Commercial district is no longer appropriate for the Washington Street and Chapin Street commercial areas. Industrial zoning includes the D, light industrial district, and the E, heavy industrial district. Future development within the industrial districts will most likely be of a type found within newer, light industrial areas.