Agenda - Council - 05/14/2002 - Laserfiche WebLink

Home

I I I '1 ASSOCIATED RETAIL CONSULTING ~.v~"~-'"~.~-7:0¢;;~';;., ',.., :.: Mr. Michael J. MulroOney Advance Resources for Development, Inc. 8960 Springbrook Dr., Ste. 230 Coon Rapids, MN 55433 "The Source For Solutions" May 6, 2002 RE: Market Analysis Proposal for Ramsey, Minnesota Dear Mike: Tom and I both enjoyed our meeting with you and Jim Norman this past Tuesday. The'situation you and Jim described for the subject property in Ramsey sounds like a Pivotal piece t~ the continued development of the city, and I believe our analysis and reView of the trade area would be a valuable tool in making an informed decision in laying out the long-range plans for the property. Project Scope: The purpose of this study is to conduct a full market analysis of the City of Ramsey along with its surrounding effective retail trading area, and determine a timeline-oriented threshold for potential retail to service this area. This threshold perspective would reveal the present day potential for retail categories, as well as the five and ten year longer-range potential of these categories based on population growth. Other yearly thresholds may be identified depending upon the rate of population growth of the region in the coming years. The subject property is an approximate 300 acre tract of land located north of Highway 10/169, south of County Road #116, east of Armstrong Boulevard, and west of Ramsey Boulevard. Process: An analyst fi.om Associated Retail Consulting will-travel to the Ramsey, Minnesota area to analyze the retail trading area of the city, and collect the necessary data and market observations to conduct the study. The data and observations include identifying and evaluating competition for each class of retail trade, identifying future retail market changes, gathering detailed population estimates and projections, detailed traffic information, and conducting a physical review of the prospective site. A meeting with The City of Ramsey personnel will be reqUired to discuss current and planned projects (retail, residential, transportation) for the region. Upon completion of the field assessment, the analyst will return to the office to analyze the data obtained in the field, and complete an in-depth analysis of sales potential' by retail category over time. This analysis of retail potential by category will be the basis of identifying potential retailers, retail box size, and optimal retail mix. Upon completion of the office analysis phase, the findings and conclusions of the study will be compiled to create an Executive Summary Report: CENTI~/\L OFFICE: 612 Oak l'a~'l< Ladle · Hol)ki~s, MN 55343 · Tel: 19521 939-9183 Fax: (9521 939-8056