Monticello downtown assessment report: Part 5

     This is a multi-part series on the City of Monticello’s Downtown Assessment Report, as conducted by the Iowa Downtown Resource Center and Iowa Economic Development Authority. This was a partnership between the city and Jones County Economic Development.

Theme 5: Upper Story Housing

     Many downtowns in cities and towns across Iowa experience the issue of upper-story vacancies, including Monticello.

     Historically, generations earlier, businesses were housed on the first floor (main level), and business owners resided upstairs. Over time, those upper-story spaces have become run down (in some cases), vacant, and ignored. Buildings that have empty upper floors lose out on money, both for the building/business owner and the community.

     While the downtown assessment team visited Monticello and walked downtown along First Street, they “noted that there were only a handful of upper stories that are being utilized for housing.” They also saw and described downtown Monticello as “dead after dark.

     “The lack of activity made downtown feel empty and dark at night.”

     Having upper-story residences can help brighten the downtown and bring activity back to First Street. Those residents can also serve as literal built-in business customers for the downtown business base.

     “By encouraging upper-story living, you breathe new life into the community at all hours of the day and night,” stated the assessment team.

     Downtown revitalization also includes the important component residential housing. Downtown living is on the rise across the country.

     “Every successful, destination driven downtown includes a robust and vibrant upper-story living component,” continued the assessment team. “The more people who are on the sidewalks downtown translates to more opportunities for additional businesses in the downtown district.”

     Upper-story living can provide unique and affordable housing options in any community of any size. There are several benefits to this. It increases the community’s tax base. Overall property values increase as property owners improve their buildings and cash flow. Downtown housing options appeals to young people, young professionals wanting to move to town. It can also be an option for empty nesters looking to downsize and move closer to an active downtown.

     Downtown building owners can be marketed as new and unique options compared to other, current housing options in the community.

     “Monticello should take advantage of the unique dimensions, layouts, and materials found in the upper levels of downtown commercial buildings to create distinguishable and even funky living spaces,” noted the assessment team. The upper-story housing options can capitalize on the architecture and history of the downtown buildings: wooden floors, exposed brick walls, high ceilings, for example.

     Upper-story housing also lends itself to the popular open-floor concept, which is very desirable in the housing market.

Action steps:

     • Create a housing taskforce in partnership between the city, chamber, economic development, and downtown property owners.

     • Create an inventory of available upper-story housing options, including potential new units. Research the median market rent.

     • Clean upper-story windows. Remove broken/torn window coverings.

     • Take field trips and tour current occupied upper-story living spaces to get ideas.

     • Research funding sources for downtown housing projects.

     • Address downtown overnight parking restrictions to encourage residential build-out.

     • Get people excited about living downtown. Hold open houses and give tours once upper-story housing projects are completed. Include tours of raw spaces so people get an idea of potential floor plans. Include housing that is already occupied.