Greenstreet Ltd. — Development, Brokerage, Consulting

Switchyard Park Master Plan

Project Details

With the 2011 completion of the three mile B-Line Trail project through downtown Bloomington, the City shifted its attention to the development of a Master Plan to define the vision for a 58-acre former railroad switchyard adjacent to downtown.  Beyond the creation of a grand park, the Mayor of Bloomington charged a multi-disciplinary design team to make the brownfield a catalyst to re-energize the local economy.

Working with Rundell Ernstberger Associates and EDEN Collaborative, Greenstreet studied over 300 acres of adjacent property to assess development opportunities.  The scope included interviews with local property owners, developers and brokers and analysis of the local economy and projections of real estate market demand for residential, office and retail uses.  A market strategy for four adjacent catalyst projects was developed in synergy with the design and phasing of the Switchyard Park.  Options for land acquisition, conservation and property control were presented as well as a public/private funding and implementation plan.  Based on build-out of the catalyst projects, Greenstreet estimated increases in assessed value and incremental property tax revenue to understand the City’s potential return on public investment.