Friday, February 25, 2005

From Vail, a warning for Ketchum


Ski resort communities are kissin' cousins whose economies essentially appeal to, and are dependant on, a steady influx of vacation-minded visitors seeking energetic recreation or just relaxation and taking in the sights.

They also provide much of a community's lifeblood--sales tax revenues--for year-round city services.

But worrisome new trends have begun to stagnate mountain resort economies: real estate investors taking over retail districts to build commercial buildings for speculation.

Many structures with their penthouses remain unoccupied for long stretches, displacing retail activities that once drew shoppers and generated tax revenues for cities. This is the woeful tale of Vail, Colo., where sales tax revenues are reportedly flat and in decline.

Vail's story should be an alert for the city of Ketchum, which has seen similar changes in the character of the downtown retail area. Not coincidentally, higher lease costs for retail space and creeping tax increases have had their own effects on the merchant community.

The whole Wood River Valley is in a period of change—some might say turbulent change—with the possibility of a new airport being built, State Highway 75 targeted for major widening and expansion, major new housing developments being planned, the Sun Valley Resort unveiling plans for major enlargement, the city of Hailey enjoying a business renaissance as well as a population boom.

Could this be the auspicious time when the City of Ketchum also strives for change by its own hand and puts its mind to new ways of preventing the retail core from stagnating?

Ketchum has powerful regulations as well as incentives in its building code and planning and zoning ordinances that can be brought to bear for the community's good, not merely for the benefit of investors and developers seeking to improve their fortunes. Surely within these codes the city can find methods to encourage a lively retail area and prevent commercial areas from becoming stultified by speculators with no special concern for downtown life.

A flourishing retail core with an inviting variety of shops for browsing shoppers can be as indispensable to the Ketchum economy as the lure of ski slopes on Baldy.

Community organizations have helped transform the Ketchum area into a year-round venue for visitor-luring events.

Once here, visitors who spend generously to reach and remain in the Wood River Valley for a few days understandably expect a retail district where they can satisfy their yen for shopping.




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