Agenda - Planning Commission - 09/01/2016

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Using supermarkets as an example, Ramsey Station rider sales potential in 2016 is estimated at $456,000, as shown in Table 6-8. Supportable gross leasable area (GLA) for a supermarket is estimated by dividing sales potential by $460 per square foot, sales productivity appropriate for a supermarket. This results in supportable GLA of 991 square feet of supermarket space, which is considerably smaller than the range of supermarket store size. Store GLA in other retail categories supportable by Northstar riders is also shown in Table 6-8. Supportable space for drug stores and liquor stores is 441 and 213 square feet of GLA, respectively. These estimates of sales potential represent rider spending potential for each category. Spending potential for an individual store will be less as consumers usually patronize several stores in each category. Table 6-8 RAMSEYNORTHSTAR STATION RIDER RETAIL SALES POTENTIAL AND SUPPORTABLE SPACE BY MERCHANDISE CATEGORY, 2016 Sales Sales/ Supportable Store Size Category Potential Sq.Ft. Sq.Ft. Low Median High Convenience Goods Supermarkets $ 456,000 $ 460 991 31,245 52,419 69,462 Convenience Food 9,000 300 30 1,349 2,085 5,323 Drug&Proprietary Stores 203,000 460 441 8,280 11,700 23,714 Hardware 31,000 185 168 5,638 13,831 27,743 Liquor 80,000 375 213 1,305 2,856 7,210 Florist 12,000 190 63 766 1,600 5,396 Source: McComb Group,Ltd. Ramsey's retail businesses are consistent with those of a neighborhood shopping area that offers convenience goods, food services, and services that are typically purchased close to home. Consumers typically drive further distances to patronize shopping goods and destination type retailers. Retail stores consistent with a neighborhood shopping area and supportable GLA in the Ramsey Station area are contained in Table 6-9. Northstar riders do not represent sales potential sufficient to support the types of stores consistent with a neighborhood shopping area in Ramsey. The list of businesses is not all inclusive of store types, but the supportable GLA result would be similar. Northstar riders represent additional retail potential for business establishments that serve the larger Ramsey community. Ramsey Station's location adjacent to a growing commercial area will be a benefit to business establishments located in the area. child daycare is a potential use that is consistent with the station area for commuters with children, as well as other parents living and/or working in Ramsey. This analysis points out that Northstar riders do not have sufficient spending potential to support stores or services in the station area. They do, however, have spending potential that can be important additional sales to existing and future Ramsey businesses. Many of these riders may already shop in Ramsey; however, others may not. The Northstar brings these riders to Ramsey on a regular basis and increases the convenience of shopping in Ramsey on a regular basis. Complete tables showing supportable square footage by retail and service category for each target year are contained in Appendix B. 6-10