Built Capital: Burlington, VT

Built capital is different from the other capitals, due to the fact that it’s the most tangible.Built Capital is defined as“Physical capital endures over a long time and is rooted in place” –Green & Haines (2012).  This can encompass any community development project that deals with tangible development.  This could be an affordable housing project, the building of a community development loan bank, or the redevelopment of a down town area to create a more pedestrian friendly area that condones more small businesses.

While Burlington is currently doing exactly that with their new redevelopment project on Church Street, they same thing happened in the 80s during the conception of the original Church Street Marketplace.  The original idea was conceived by Bill Truex who saw an opportunity to solve the “traffic-snarled nightmare” and turn it into a successful pedestrian mall.  Finished in 1981 it was described as the “‘gem in the crown’ of the Queen City of Burlington (History)”  Since it’s completion Church street is mostly governed by Church Street Marketplace District  “a Business Improvement District, on Church Street between Pearl and Main Streets. Created in 1981. Property owners pay an additional tax (called the “common area fee”) that funds 70% of Church Street Marketplace Department’s operations. (Annual Report)”  With the steady success of Church Street Marketplace it’s safe to say that Church Street is in good hands.

History. (n.d.). Retrieved December 2nd, 2016, from http://www.churchstmarketplace.com/about/history

Annual Report. (n.d.). Retrieved December 2nd, 2016, from http://www.churchstmarketplace.com/_files/docs/sm-district-fy-14-annual-report-csm-businesses.pdf