june 26 - kansas city, kansas presentation
TRANSCRIPT
Site Trade Area A
Market SizePopulation: 73,483Households: 27,647
Market Buying PowerAgg. Neighborhood Income: $1.7 BAverage Household Income: $46,000Income per Acre: $71,000
Site Trade Area B
Market SizePopulation: 85,826Households: 27,647
Market Buying PowerAgg. Neighborhood Income: $2.1 B Average Household Income: $51,000Income per Acre: $102,000
Source: U.S. Census Bureau, 2000 and Social Compact Harlem DRILLDOWN, 2008
Where do you want to develop?
Census 2000: KCMO District 3
Market SizePopulation: 73,483Households: 27,647
Market Buying PowerAgg. Neighborhood Income: $1.7 BAverage Household Income: $46,000Income per Acre: $71,000
DrillDown: KCMO District 3
Market SizePopulation: 85,826Households: 27,647
Market Buying PowerAgg. Neighborhood Income: $2.1 B Average Household Income: $51,000Income per Acre: $102,000
Source: U.S. Census Bureau, 2000 and Social Compact Harlem DRILLDOWN, 2008
Same Area, Different Market Info
Census Problem
Undercounts first year Misses pockets of development in
subsequent years Updated data available only at the city
level
Kansas City, KS
Census 2000 Population: 146,866
Census 2006 Estimate: 142,266
Population decrease of -3%?
Contrary Evidence
New Building permits all time high over the last decade
Tremendous retail growth in Western Part Lowest home prices in the area Influx of immigrants
USPS 2008 Counts
Residential nonvacant addresses for Wyandotte County: ~62,000
Average Household Size: ~2.6 Rough Population Count: ~162,000 Versus ~158,000 in 2000
The DRILLDOWN Social Compact, nonprofit funded by a coalition of
Banks and retail companies to improve inner-city marketability.
An estimate of the urban population using multiple data sources from federal, state & city levels
Transactional data: utility use, purchases, and property information.
The DRILLDOWNAsset Data Drives Urban Investment
Uncovers hidden market assets, like population, true purchasing power, and the informal economy
Backed by Brookings, ICSC, the Federal Reserve, top 100 marketing retail research departments.
Conducted in over 100 urban neighborhoods resulting in nearly one billion in investment
15 cities to date, three more coming on in 2008. www.socialcompact.org
DrillDown Impact in Other Cities Houston – Results provide solid case for redevelopment of
Gulfgate Mall and surrounding area.
D.C. - Key to attracting Target and Giant to two urban neighborhoods.
Harlem – $1 billion in cash economy. Fleet setup two branches, 3 atms and a micro-lending facility.
Cleveland - $820 million cash economy results in KeyBank establishing new branches and strategy to increase banking in urban core neighborhoods.
DrillDown: How Does It Work?
Transactional data versus reported data
Use multiple 'layers' of data
Overlay, one dataset may capture
DrillDown: How Does It Work?
CensusAddress 1Address 2Address 3Address 4Address 5
DrillDown: How Does It Work?
Census CreditAddress 1Address 2Address 3Address 4Address 5
DrillDown: How Does It Work?
Census Credit PermitsAddress 1Address 2Address 3Address 4Address 5
DrillDown: How Does It Work?
Census Credit Permits WaterAddress 1Address 2Address 3Address 4Address 5
Sample of the Data Sets
Credit Bureaus (3) MLS/Home Sales Claritas Consumer BLS Cons Exp Rep ESRI Business Ind. IRS Records USPS Records
Water/Electricity Building Permits Demolition Permits Public Housing Parcel Data Tax Assessment Payday/Banks/Retail
P opulation Change DrillDown 2007 & Census 2000
462,255
533,117
0
100,000
200,000
300,000
400,000
500,000
600,000
A vg In come D rillD ow n 2007 & C en su s 2000
$48 ,125
$57 ,326
$0
$15 ,000
$30 ,000
$45 ,000
$60 ,000
$75 ,000
Includes Informal or Cash Economy
District Map
Districts Overview
Population : The DrillDown estimates show significant change in all Districts, the largest in Districts 1, 3 and 5
Income: Average household income is higher in all Districts, with large spikes in District 3 and 5 due to the informal or cash economy.
Districts Overview
Cash Economy: Large cash economy in Districts 3, 5 and 6.
Density is a critical market asset in District 3 and 4, demonstrating the highest per acre purchasing power across the city.
Population Change DrillDow n 2007 & Census 2000
9 6 ,1 8 6
8 5 ,8 2 67 8 ,5 7 2
9 4 ,0 7 4
8 0 ,0 4 3
9 8 ,4 1 6
0
2 5 ,0 0 0
5 0 ,0 0 0
7 5 ,0 0 0
1 0 0 ,0 0 0
District 1 District 2 District 3 District 4 District 5 District 6
A v g In c o m e D rillD o w n 2 0 0 7 & C e n s u s 2 0 0 0
$ 7 0 ,1 3 8
$ 4 1 ,1 1 3
$ 6 7 ,0 8 6
$ 5 0 ,0 4 1
$ 6 1 ,7 8 4
$ 5 3 ,7 9 3
$ 0
$ 1 5 ,0 0 0
$ 3 0 ,0 0 0
$ 4 5 ,0 0 0
$ 6 0 ,0 0 0
$ 7 5 ,0 0 0
D is tric t 1 D is tric t 2 D is tric t 3 D is tric t 4 D is tric t 5 D is tric t 6
Inc ludes In form al or Cash Econom y
Purchasing Power Per Acre DrillDown 2007 & Census 2000
$102,706
$236,803
$57,763$40,963
$25,529$33,390
$0
$50,000
$100,000
$150,000
$200,000
$250,000
D istr ic t 1 D is tr ic t 2 D is tr ic t 3 D is tr ic t 4 D is tr ic t 5 D is tr ic t 6
DrillDown Package
Additional Data – retail leakage, credit report penetration, vacancy rates
Monthly Webinars Desktop Application - quick (SIMPLE) data
access using google map platform Custom reports with CDCs on a
purchase/request basis for developers 6 month updates
DrillDown Cost
Yearly cost: $20,000
Match from Foundations and Corporate sponsors of $20,000
Commitment for three to five years
DrillDown Implementation
Point Person from each CDC/corridor partner
Point Person from KCK October for Data January for first report
Questions?
For More Information:
Dan Melton, PhD, MPA
KCUMA Coordinator
http://www.kcuma.org