The Commercial District Revitalization Initiative (CDRI)
is one of two key thrusts of
LAEDA's Comprehensive Economic Development Strategy (LCEDS) targeted at Growing the Marketplace
in the commercial districts of the City of Camden. The success of the LCEDS hinges on the revitalization of the commercial districts into vibrant marketplaces that draw customers from the city's neighborhoods, surrounding communities and visitors of the waterfront attractions. CDRI was developed as a direct result of the need to rebuild the marketplace in the City of Camden to provide fertile ground in which to plant graduates of EDTP.
As part of LCEDS, CDRI coordinates engagement with merchants and stakeholders to collaborate on devising strategies to leverage assets and address challenges unique to each district. Implementation and services through LAEDA Business Services Center are coordinated through CDRI in alignment with approved strategies with the support of stakeholder leadership.
Commercial District Revitalization Initiative (CDRI) is created to be a catalyst to stimulate the growth and expansion of the small business community in the commercial districts in the City of Camden. This mission is pursued through:
- The application of the Main Street 4-Points Approach to commercial district revitalization as developed by the National Trust for Historic Preservation and adapted to an urban setting.
- The identification of neighborhood commercial districts where the social, physical and economic conditions are such that a grass roots effort to revitalize the commercial district will result in business creation, job growth and private/public investment.
- The coordination of a comprehensive curriculum of commercial revitalization educational training tools and hands on technical assistance support designed to empower merchants and stakeholders to guide a comprehensive commercial revitalization effort.
- Facilitate the development of these commercial districts as cultural tourism assets that showcase the local communities' rich cultural tradition to the Greater Philadelphia Region.
- The coordination of business support services and educational opportunities through LAEDA Business Services Center tailored to assist existing business owners in strengthening and growing their businesses.
- The development of partnerships with other organizations undertaking commercial district revitalization efforts to share best practices and real time market information and to collaborate on joint efforts regarding business technical assistance and marketing and promotion.
- The identification and rehabilitation of abandoned and/or underutilized commercial real estate in these commercial districts to maximize business growth potential and impact the overall physical environment.