Downtown Revitalization
Our downtown revitalization studies quantify existing
downtown retail and office development, identify current
marketing strategies and offer strategies to increase market
share and revenue for downtown retail. This can be
combined with a downtown housing
review to identify the full scale of downtown activity.
Conclusions and Recommendations
Specifically, our downtown revitalization studies will
include the following conclusions and recommendations:
- Surplus/deficit of retail development by type of retail
establishment
- Evaluation of existing retail and office strategies and
strategies for increasing retail sales and office occupancy
and development in the downtown area
- Identification of barriers to downtown retail and office
development and sales performance and strategies to remove
those barriers
Supply and Demand Analysis
Conclusions are based on an evaluation of the supply/demand
relationship within the area served by the downtown market.
Existing supply is identified through a 100% field survey of
downtown retail and office development, as well as
outlying/suburban retail areas competitive with downtown.
Gathered information for retail includes square footage, SIC
code, and hours of operation. For office development, we
gather square footage (occupied and vacant), tenant data by type
of business, rent, utilities included in rent.
Demand calculations are based on the following:
- License plate surveys are used to establish the market
area for downtown retail and office. (Some states have
privacy laws that forbid disclosing address information.)
- Demographic profiling using the best available small area
demographics and established capture factors.
- Extensive surveys and interviews within the subject area,
including surveys of business owners/managers and intercept
surveys of area shoppers. These surveys identify
perceptions of the downtown as a place for conducting
business as well as barriers to downtown retail and office
development.
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downtown revitalization study
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