Agenda - Planning Commission - 09/01/2016

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Regular Planning Commission 5.5. Meeting Date: 09/01/2016 By: Tim Gladhill,Community Development Information Title: Review Existing Market Studies for The COR Purpose/Background: As part of the Planning Commission's ongoing discussion about the status of the Development Plan for The COR, additional market study was suggested at the July 12 Joint Work Session with the City Council. Before the City considers additional, formal market research in the form of a Market Study, Staff suggests the following steps be completed. 1. Completion of the planned Market Roundtable and Panelist Discussion 2.Review of existing market studies previously completed Notification: Notification is not required. Observations/Alternatives: Also on this agenda is a case to consider format and logistics for the Market Roundtable and Panelist Discussion recommended by the Planning Commission at the August Meeting. Details of this step can be found in that case. The intent of this case is to review existing market studies currently in the City's records pertaining to The COR. Staff will present a summary-level presentation at the meeting. •Northstar Corridor Development Authority(NCDA)Market Study by McComb Group,Ltd.This study analyzes the station site in Ramsey on the Northstar Commuter Rail. This provides information about the feasibility of commercial development based on existing and forecasted demographics. Important factors are number of households,number of employees working in the community,and vehicle trips per day. .Buxton Retail Match.This study examines demographic and other available data used by commercial users and attempts to correlate that into types of retailersthat would be feasible and appropriate. .Anoka County Housing and Redevelopment Authority(ACHRA)Housing Study by Maxfield Research. This study aims to forecast housing need and feasibility for the community as a whole. Many of the stated housing needs are accommodated in The COR,while maintaining a balance of urban and rural residential in a majority of the community. Additionally, Commissioner Brauer has requested consideration of purchasing MyBestSegment Data from Nielsen company. This data allows users to evaluate market segments by linking consumer behaviors for shopping, financial,media and much more [...](Source:Nielsen Companies). Different than the Buxton Study that aims to identify appropriate retailers,this Nielsen data aims to identify the types of shoppersthat exist in the community. The intent would be to have demographic data available for potential retailers categorized in a format that meets their business needs. A summary snapshot is included for review. More detailed demographic information is available through a subscription of$995 per year. More focused data(such an only Ramsey portion of 55303)is available with a range of$1,000 to$1,750 per report. More information is available online at https://segmentationsolutions.nielsen.com/mybestsegments/. Funding Source: