Strategic Investment Plan
City of Troy Downtown Development Authority
Big Beaver Road provides the first impression many people have of the City of Troy.
The high-rise buildings, Somerset Collection, and its immediate proximity to I-75 are frequently the main elements visitors remember. To create a world-class environment along this corridor, the City completed the Big Beaver Corridor Study to analyze the existing and potential characteristics of the Big Beaver Corridor and prioritize actions that will implement the plan through changing economic conditions.
Builds on the Big Beaver Corridor Plan to create an investment environment along the corridor
While the Corridor Plan puts forth an aggressive vision for Big Beaver, the vision will not become a reality without significant public and private investment. With this need in mind, Carlisle/Wortman Associates was retained to facilitate a process which resulted in the creation of the Strategic Investment Plan for the Downtown Development Authority, focusing on the creation of an investment environment along Big Beaver.
Prioritized DDA actions that will stimulate investment through capital projects and partnerships
Development of the Strategic Plan began with a half-day workshop to identify the programs that will effectively implement the Big Beaver Corridor Plan. A series of questions were posed that prompted written responses from DDA members. Following clarification and discussion, DDA members voted on the strategies to identify the highest priorities. The group identified ways that the DDA can create an investment environment, and then stimulate that environment through capital projects and partnerships with developers and existing property owners. This information was assembled into a planning document that is now used to guide DDA investment strategies all along the corridor.