North Chancery idea has merits

There has been outcry ‘ and yes the term outcry does apply ‘ at the city’s proposal to widen North Chancery Street and have property owners on that street pay two-thirds of the bill.

But if you dig beneath the initial layer of disbelief, this idea has its merits. And if all boils down to how much, if any, a nicer road will bolster property values on that road.

We don’t have to look any further than Main Street to realize the theory of Better Road Means Higher Property Value is generally accepted. During the $5.2 million project to make Main Street look better, and the months surrounding it, 14 downtown buildings changed hands by my count, which is by no means official.

These property buyers, including a Florida company which snatched up six buildings, all operated under the belief that once Main Street renovation work was complete, downtown property values would soar.

In the interest of full disclosure, I’m not so sure this strategy worked on Main Street. It might eventually at some point, but the important thing to realize is the basic theory of Better Road Means Higher Property Value was alive and well.

So let’s fast-forward to North Chancery Street, what was once a cozy residential area that is now a thing of the past. In 2008, property on North Chancery Street is zoned commercial. The nostalgic idea that a young couple might buy one of the homes on N. Chancery, settle down, and raise a family is a work of fiction.

Anyone who buys a piece of property on N. Chancery will have one thing in mind ‘ starting a business. Therefore it makes perfect sense to have the best road available for that business.

Perhaps a better road could make N. Chancery property more attractive, which doesn’t appear like it will be difficult because I’ve been seeing the same ‘For Sale’ signs in the same lawns for years. That would lead me to believe N. Chancery property is not such a hot commodity in its current state.

So it’s been proposed to widen the road to include a continuous turning lane and a sidewalk. This would come at an estimated cost of $10,000 for each property owner if a proposal by McMinnville’s city administrator is embraced.

While $10,000 is a tidy sum, a big chunk of change if you will, it’s really not that much in terms of a property investment. In fact, when talking about commercial property, $10,000 is a rather pedestrian investment.

The operative word to remember here is investment. A wider road has the potential to reap huge monetary benefits to N. Chancery property owners, or it could lead to not-so-immediate returns like we’ve seen with Main Street.

Probably the most important thing to remember is the city will not force property owners to do this project against their will. There is a great misconception that the city is poised to take people’s land and force them to upgrade the road in the process. If property owners don’t want this deal, the idea will die.

From a policy standpoint, I don’t like the idea of a handful of private citizens paying to widen a busy city street. Ideally, that should be a responsibility shared by all taxpayers.

From a practical standpoint, if N. Chancery Street residents want to take down some of those ‘For Sale’ signs and actually sell some of that property, widening the road could be the best way to go. The only thing we know for sure is it’s their call to make.

James Clark is editor of the Standard. He can be reached at 473-2191 or by e-mail at [email protected].