Download - Iedc Annual Conference Columbus 2010 Final
New Life to Old Developments
Practitioners’ Perspectives IEDC Annual Conference September 28, 2010 Moderator - Charlene Coulombe-Fiore, CEcD, EDFP
Agenda Brett Doney - Great Falls Development (public
sector) Sean Garretson – The Retail Coach (market
analyst/planner) Kristen Fish – Redevelopment Resources
(developer/implementer) Q&A
The Public Sector Role and ED Perspective
Brett Doney - Great Falls Development
The Planner’s Role and Perspective
Sean Garretson, AICP – The Retail Coach
The Retail Coach, LLC, is a national retail analytics and locational intelligence firm that combines strategy, technology and creative expertise to develop and deliver high-impact retail recruitment and development strategies.
25 years in retail real estateWorked in more than 125 communities in 32 statesMarket assessment & corporate site selection experience with national retailersRetail real estate brokerage firm specializing in market analyses & retailer site identificationRetail leasing & development/redevelopmentLand development with investment firm Retail professionals in the consulting business – not consultants in the retail businessPractical revitalization planning and development
We not only develop retail recruitment and development strategies for clients, we execute them and coach clients to achieve results.
About The Retail Coach
Workers are more mobileJobs are following the talentTalent is attracted to Quality of Place
Three out of Four Americans under age 28 first pick a place to live and then find a job.SOURCE: Next Generation Consulting survey
They want to live in a COOL community.
COOL is defined by them.
The New Economic Development
Store closings, slowed expansions, bankruptcies and liquidations have dominated headlines.
The Good News … Retailers are Expanding
We have located—or are currently working with:
Target Dollar General Save-A-Lot Grocery Lowe’s Home Depot McDonald’s Zaxby’s Hibbett Sports ALCO Stores Kohl’s
Discount Retailers, Dollar Stores & Drug Stores dominate retail growth sectors.
Community Development Precedes Economic Development
Would you invest $2M next to this?
Smaller communities must workharder to get retailers’ attention
Do not abandon downtown Maintain strong residential support
around downtown Have a downtown redevelopment
strategy Downtowns have become
entrepreneur- driven Entrepreneurism increases during
economic downturns
Focus on Your Downtown
Job growth is essential for a thriving downtownSuccessful community economic development is KEY!Create destinations and fostertourismImprove the overall downtownexperienceDowntown revitalization is largely about making dealsPublicly-supported IBIZ Districts work (independently-owned business improvement districts)
Downtown businesses must operate as a business and not a hobby.
Focus on Your Downtown
Urban Renewal Plan created in late 1990sTri-Party Agreement (CoA, Urban Renewal Agency, Austin Revitalization Authority)(2) 1-mile corridors (11th/12th Streets)General Revenue and HUD fundsSuccessful, yet…(depending on who you ask)…
Choose partnership(s) closely, and hold accountable
Austin, TX
Public Spaces don’t just happenEconomic Impact of Bike Lanes
City role in shaping/programming public environment.
Public Spaces
Discovery Green - Houston, Texas
What is the basis of the economy?Is there a university? Entrepreneurial community?Are your incentives geared towards placing office users in revitalization zone?Role of the non-profit.Catalyst Projects
Build on your assets
Should you really try to CREATE the market?
Downtown Master PlanTeam just completed Texas State University Master PlanTexas State growth – now at 32,000County seat, great early 1900 bldg architecture, block structurePotential for commuter rail (Austin-San Antonio rail)Private sector role (identify market opportunities)Public sector role (leverage land and building assets, study/fund infrastructure needs)
Build upon your market and assets
San Marcos, TX
How should you best leverage your assets (land, utilities, money)?
Should you use a RFP vs RFQ process?
Should you encourage an Attainable Housing component?
How effective are Public Utility Districts versus TIFs/TIRZs?
Lastly…if you know the Development Review Process should be faster in your revitalization zones then why is it taking as long / longer there??
Questions to Consider…
The Developer’s Role and Perspective
Kristen Fish – Redevelopment Resources
About Redevelopment Resources
Redevelopment Resources provides development and redevelopment solutions to municipalities, businesses and organizations which enhance the vitality of the community and improve the local economy. Focus on implementation Over 145 years of collective experience Commercial Real Estate Economic Development Planning Retail Support Community Development Finance/Incentives/Deal Structure
Important Elements
Site control Implementation Team
Owners City/County/public funding source Prospective tenants Private sector stakeholders Legal/AE/Environmental
Political Issues
Timing Environment Who is REALLY going to do the
project Knowledge Experience Leadership
The Site
Land/Property Assembly Control of the site is very important
Ownership Friendly condemnation Assist with relocation
Local Law Zoning Local ordinances
Former Movie Theater
Live music venue (bar/restaurant)
Façade renovation loan Commercial rehab loan
(CDBG)
Design control
Former blighted block New office complex City acquired ½ block New ramp with retail on main
level Planned condos on top
Former Private Club Private investors
OwnersCommunity partners
City Participation Commercial rehab CDBG for job creation
Former department store Office Proposed theater Proposed bowling alley Proposed retail “mall” Temporary offices
Former retail “mall”
Retail Extension of
hotel banquet Expansion of
hotel guest rooms
Residential condos
Palladian project connected to hotel/ramp
Creative use of vacant retail Try it on, sample Shorter term leases Go after what you really
want
Thank you!
Kristen FishRedevelopment Resources
Questions & Answers