Keys to Building Economic Resilience in Montgomery County Post-Pandemic
As we await post-pandemic life and speculate about our economic future, the idea of economic resilience—how quickly and easily we as individuals and society can adapt to and recover from a devastating economic blow—is on everyone’s minds. So let’s examine the idea of economic resilience: what the term “resilience” means for a local economy, what characteristics and conditions make local economies resilient in the face of economic challenges and how Montgomery County can position itself to be more resilient.
Local Economies, Adaptive Resilience, and Relationships
Economic resilience is adaptive resilience. This is different from the type of resilience we expect from our physical infrastructure, which “bounces back” to normal functioning … Continue reading
The retail that helps define Montgomery County’s character is struggling. The necessary COVID-19 restrictions that reduce crowds will continue to challenge retail in Montgomery County even after the lockdown eases, but the county has policies and programs that could help landlords, retailers, employees and the customers they serve.
Montgomery County’s extensive retail sector with 40.6 million leasable square feet across 2,390 properties (Source: CoStar) serves a diverse population and is a key amenity for the County. In their 2017 Retail Trends Study, the Montgomery County Planning Department highlighted vibrant, small retail businesses and recommended that the County would “benefit from focusing on the development and support of these unique small businesses, as these businesses are market differentiators for the … Continue reading
Several weeks into the COVID-19 pandemic, it has already become cliché to say that we are living in unprecedented times, but it is still too early to understand exactly how severe the economic damage will be, and how it will effect Montgomery County and its residents. While hundreds of thousands are already suffering the direct health effects of the COVID-19, the indirect economic fallout from the near closure of the economy is also becoming apparent. From the weeks ending March 21 through April 11, over 22 million people filed for Federal unemployment insurance in the U.S., including over 38,600 people in Montgomery County. This volume has far surpassed all previous records. The $350 billion Paycheck Protection Program created by … Continue reading
For the past eight years, the median household income in Montgomery County has remained below the level during the Great Recession. Moreover, median household incomes have yet to recover to the 1999 benchmark of $101,824 after the precipitous drop in 2010 to $96,913 (illustrated in Figure 1). The median household income – the income at which half of the households are above and half are below – adjusted for inflation, dropped 5.8 percent (-$6,063) from its peak in 2007 to $98,917 in 2015. The latest estimate is 2.9 percent lower than the adjusted 1999 median household income of $101,824.
Figure 1. Montgomery County Median Household Income 1999-2015 (constant 2015 dollars)
Still considered one of the wealthiest counties in … Continue reading
Excerpts from David Korten’s “Living Buildings, Living Economies, and a Living Future” from Yes! online, May 18, 2011:
“Integrating multi-purpose buildings into a larger multi-building neighborhood or district system adds opportunities to develop public green spaces, community gardens, edible landscaping, and small-scale poultry and livestock production, as well as natural wetlands and living machine water purification to continuously recycle nutrients, water, and energy.
Integrative projects also create opportunities to balance the utility loads of businesses, which generally have greater energy needs during the day, and residences, which have greater needs during nonbusiness hours. Bringing residences, employment, shopping, and recreation together in close proximity minimizes transportation requirements and facilitates the sharing of autos, bicycles, appliances, and tools, and community connections … Continue reading
Via Fast Company
Portland has long been one of the most celebrated cities in terms of planning and sustainability. Peter Calthorpe is one of the original pioneers of transit-oriented development. In this video, Calthorpe does a nice job of succinctly laying out the principles of transit-oriented development, namely walkability and diversity of population and land use.
Earlier this winter, the New York Times ran an article on a CEO’s for Cities study revealing a substantial premium on home sale prices in areas with an above average Walkscore, the informative, if simplistic online measurement tool that ranks neighborhood “walkability” based on proximity to community services and amenities. According to the study, for every additional Walkscore point a neighborhood earns, home prices increase by $700 and $3,000. On average, highly walkable homes sold for $4,000 to $38,000 more than their auto-centric competition.
This past weekend, I attempted to use Walkscore in conjunction with Zillow.com to (at least loosely) confirm the study’s findings for Montgomery County. While zip-code data gave a soft nod in the affirmative, I couldn’t find data … Continue reading
Tacking onto Elza’s post on Silver Spring’s future form, I came across this building a few weeks ago and couldn’t help but think of Fenton Village. It’s cheerful, gritty, and almost certainly would feel at home in a neighborhood that already boasts an array of colors, from the similarly red Pyramid Atlantic to the tastefully pink Jackie’s Restaurant.
And while the Burnside Rocket may seem to offer little in the way of architectural distinction other than a few eccentric shutters painted by local artists (which I think are quite neat), between its crimson painted walls is a powerhouse at work. The LEED-Platinum certified structure is built both to last, approximately 300 years according to the project’s website, and operate … Continue reading