Reykjavik - Holy Cow!

[Blackbird]

Just got home from a trip to Iceland, where I was really impressed by the capital city of Reykjavik. The whole country has only 376,000 people, and the capital region only has 233,000. Still, the city was bustling with people. It had a good mix of stores and restaurants, pedestrianized streets, a nice waterfront, and a convenient, extensive, seemingly well-used bus network.

I wasn't able to take many photos of the city, but I'd highly recommend taking a quick virtual tour on Google: 9 Skólavörðustígur - Google Maps

Our small cities here in the US (or at least in New England) are generally so economically depressed or stagnant and have been kept desolate for the last century by some combination of urban renewal, white flight, or NIMBYism. So, I've generally had a prejudice in my mind that urban amenities and vibrancy can only be found in larger cities with at least 500k people in the metro area. Reykjavik really challenged that idea for me and now I'm frustrated by the state of affairs in places like Lowell, Lawrence, Lynn, etc. which aren't too far off from the Icelandic city in population. I think the closest we have to it might be Portland, ME, but it still feels significantly smaller, sleepier, and more reliant on souvenir shops (though to be fair Reykjavik had plenty of those too).

And yes, I know that being a capital city, even of a small country, makes Reykjavik a different beast from a Lawrence, which is barely the biggest city in its county, let alone in the greater metropolitan area. Still, it's a good case study of how you can really do a lot with a little when it comes to urbanity.

 

[Charlie_mta]

Just got home from a trip to Iceland, where I was really impressed by the capital city of Reykjavik. The whole country has only 376,000 people, and the capital region only has 233,000. Still, the city was bustling with people. It had a good mix of stores and restaurants, pedestrianized streets, a nice waterfront, and a convenient, extensive, seemingly well-used bus network.

I wasn't able to take many photos of the city, but I'd highly recommend taking a quick virtual tour on Google: 9 Skólavörðustígur - Google Maps

Our small cities here in the US (or at least in New England) are generally so economically depressed or stagnant and have been kept desolate for the last century by some combination of urban renewal, white flight, or NIMBYism. So, I've generally had a prejudice in my mind that urban amenities and vibrancy can only be found in larger cities with at least 500k people in the metro area. Reykjavik really challenged that idea for me and now I'm frustrated by the state of affairs in places like Lowell, Lawrence, Lynn, etc. which aren't too far off from the Icelandic city in population. I think the closest we have to it might be Portland, ME, but it still feels significantly smaller, sleepier, and more reliant on souvenir shops (though to be fair Reykjavik had plenty of those too).

And yes, I know that being a capital city, even of a small country, makes Reykjavik a different beast from a Lawrence, which is barely the biggest city in its county, let alone in the greater metropolitan area. Still, it's a good case study of how you can really do a lot with a little when it comes to urbanity.

Looks like a wonderful city. The Google street view you linked to looks like what I imagine the old (pre Charles River Park) West End could have looked like today if it hadn't been completely demolished in 1959.

 

[Blackbird]

I did actually take pictures in a more residential neighborhood on the outskirts of downtown of the coolest tree house I’d ever seen!

 

[HenryAlan]

Still, it's a good case study of how you can really do a lot with a little when it comes to urbanity.

I love Reykjavik, too, but I'm not sure it's an example of what can happen in Lawrence or Lowell. First, when it comes to Iceland, Reykjavik is the only game in town, so it's not just the capital city effect, but also being the only city. But more fundamental even than that, is Iceland's ability to manage it's own trade and financial services laws. A lot of money came to Reykjavik in the 90s and oughts due to attractive bank regulations. Fall River can't do that, Portland can't do that, etc.

 

[Blackbird]

A lot of money came to Reykjavik in the 90s and oughts due to attractive bank regulations. Fall River can't do that, Portland can't do that, etc.

Yeah, I was thinking of it less as an example of the steps to get there and more so an example of what the finished product can look like for a city with only 120k people.

Obviously for Fall River and Lowell to become more like Reykjavík, it would require a totally different origin story!

 

[HenryAlan]

I think the most likely scenario for our Gateway Cities would be one in which better regional rail plus continued work from home stimulates younger people looking for urban housing to locate in these cities. Once there are enough people with decent incomes living in the downtowns, the empty storefronts will begin to fill. But we need better trains for this to happen.

 

[Stlin]

But more fundamental even than that, is Iceland's ability to manage it's own trade and financial services laws. A lot of money came to Reykjavik in the 90s and oughts due to attractive bank regulations. Fall River can't do that, Portland can't do that, etc.

Correct me if I'm wrong, but didn't that economic liberalization and bank deregulation lead to a complete and utter collapse of the Icelandic banking system between 2008-2011? As I recall, all 3 of their major private banks collapsed, and the Icelandic government took on substantial debts as part of an IMF rescue package, in addition to loans from the UK and the Dutch to ensure their citizens (and local governments) deposits at Icelandic banks would be safe - I believe all of that amounted to more than 50% of all Icelandic GDP in 2008, more than half of all national debt, and I believe this year that no less than 5% of their national GDP is still committed to repaying those loans.

Also, as I recall, the recovery from that was driven largely by tourism and it's consequent forex inflows driven in large part by Icelandair and Wizz's stopover flights. Lowell and Fall river are no foreign tourists idea of a place to visit... But they are places where those young professionals who can't afford homes in greater Boston may choose to locate. That flow of "Boston money," Boston way of life etc would probably be what needs to happen to make the gateway cities a place where companies and people would want to live.