2009 retail development seminar

RETAIL DEVELOPMENT

Patrick Hanlon

Retail Market Analysis

Retail Market Analysis

• Methodology– Inventory existing

retail services and dollars spent

– Determine Retail Trade Areas

– Determine where “gaps” exist in current downtown retail services

Retail Market Analysis

• Mapping – Current Downtown Retail Stores– Current Vacancies (opportunities)– Retail Trade Areas

Existing Retail

1st Floor Vacancy

Retail Opportunity

Retail Market Analysis

• Recommendations– Retail sector-specific– Targeted to “gaps” and “opportunity”

areas– City Specific Retail Development

Components of Great Downtowns

- Retail

- Public Spaces

- Streetscape

STREETSCAPE

Great Streets = Great Downtowns

Great Streets = Great Downtowns

Great Streets = Great Downtowns

Great Streets = Great Downtowns

Bad Streets =Bad Downtowns

Bad Streets =Bad Downtowns

Downtown Property Ownership

• Façade covering removal

Great Streetscapes• Are Part of

the Community

• Physically comfortable & safe

• Include symbols of the heritage

• Are MEMORABLE

Seamless Streetscape

Seamless Streetscape

Borders

Borders

Safety• Inadequate

lighting• Auto-

dominated streets

• Streets lacking trees & other amenities

• No liter• Building in

poor/dilapidated condition

User Friendly

Transit Friendly

Amenities

Amenities

Amenities

Maintenance

• Community improvement districts help fund streetscape maintenance

RETAIL

What do Shoppers Desire?

• convenience• Bargains• Retail Experience

ULI 10 Principles for

rethinking the Mall

RETAIL MIX & LOCATION

Retail Trends

Retail Trends

Retail Mix & Location

• Ground floor retail on both sides of the street

• Anchors at beginning & end of streets

• Streets around ¼ mile or 5 minute walk

• Critical mass of retail

Traditional Retail

One Sided Retail

Discontinuous Retail

Anchors

Washington Farmer’s market

Webb City Farmer’s Market

Grocery Stores

Furniture Stores

Developing Retail Mix

• Retail– Shopping– Dining

• Service– Medical– Legal

• Entertainment– Live Music– Street Festivals– Art Galleries

Entrances• Storefront

conditions– Open– Entrances– No set back from

street

Rear Entrance

Commercial Presentation

Commercial Service

Retail Presentation

Retail Presentation

Poor Retail Presentation

PEDESTRIAN ENVIRONMENT

High Quality pedestrian environment

High Quality Pedestrian Environment

Narrow Streetscape

High Quality Pedestrian Environment

High Quality Pedestrian Environment

High Quality Pedestrian Environment

High Quality Pedestrian Environment

High Quality Pedestrian Environment

High Quality Pedestrian Environment

High Quality Pedestrian Environment

Seasonal Lighting

Bicycle Friendly

Bicycle Friendly

High Quality Pedestrian Environment

Site Furnishings

Site Furnishings

PARKING

Parking

• Spaces per square foot

• Continuous on street

• Location• Designed for

grandma• Well maintained• Well lighted• Safety

Strip Mall Know Parking

On Street Parking

Parking

Landscaped Parking Lot

parking

Parking Signage

chile

PUBLIC SPACES

Public Spaces

• Central• Active borders• Flexible uses• Safety• High quality

Old Town Cape Riverfront

Sikeston Depot Commons

Silver Moon Plaza

Silver Moon Plaza

Public Spaces

• Attract Private Investment

• Improve quality• Multi-purpose

Public Spaces

Public Spaces

Public Spaces

Public Spaces

IMPLICATIONS

Lifestyle Centers

• Lifestyle center “demonstrates the successful application of key smart growth principles including a mix of land uses, compact building design, creation of a walkable environment with a distinct sense of place, and involving citizen and stakeholder participation in development decisions."

Lifestyle Center• Theater to public space = .2• Brand Blvd to upscale retail = .3• Parking (green) to Specialty

retail = .25

New Town, St. Charles

St. Louis Galleria Overlay

• Macy’s to end of mall = .3 miles

Southlake Town Square• to parking

garage .17 miles

• To movie theater .25 miles

• To post office .16

Southlake Town Square

Downtown Neosho• Park to park

= .6 miles• Courthouse to

entertainment = .1 miles

• To business development = .25miles

• To mixed use opportunity = .2 miles

Downtown Neosho

BY THE NUMBERS

Average Retail Sales

• 2006 Communities - $72

• 2007 Communities - $59

• 2008 Communities - $59

All DREAM Communities

$66

QUESTIONS