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2 <br />Executive Summary <br />Sitting on the edge of the Twin Cities metropolitan region, the city of Ramsey is a fast growing <br />suburban community with a rural flair. However, even though Ramsey has seen significant <br />growth in the last fifteen years (from a population of 18,510 in 2000 to 24,846 in 2015), <br />commercial and retail development has lagged behind the expectations of the community. The <br />people of Ramsey in particular have expressed a need for more places to shop, eat, and enjoy <br />— this report explores the market forces that have impacted retail development in Ramsey, <br />identifies key niches that can serve as the foundation for targeted development, and offers <br />suggestions for focusing development efforts in the future. <br />Ramsey has three main commercial and retail "nodes" that should be the heart of development: <br />the COR (Center of Ramsey), the intersection of Bunker Lake Road and Highway 47, and the <br />intersection of Highway 47 and 167th Ave NW. Each of these nodes provides an opportunity to <br />encourage necessary business growth, thus making it less likely that residents will go outside <br />Ramsey for their shopping needs. <br />Based on a Claritas Retail Market Power and Consumer Buying Power analysis, there are a <br />number of sales "gaps" in the Ramsey market, where residents are spending significant <br />amounts of money outside of Ramsey. These gaps indicate opportunity markets, where new or <br />expanded businesses could capture money being lost to the community. Ramsey should begin <br />by capitalizing on existing businesses that already perform well within the city through <br />encouraging the growth of complementary industries. Two potential areas for growth would be <br />in furniture and car sales. As business grows in these areas, the city would be able to leverage <br />a concrete display of buying power to encourage other new businesses — perhaps even <br />restaurants near an automotive row for hungry shoppers. <br />More broadly, competing with areas like Coon Rapids and Anoka will require that Ramsey <br />develop a unique appeal beyond box stores and chains. The city has already lowered barriers to <br />development through a highly flexible and targeted zoning code. Other barriers to development <br />include the predominance of undeveloped land — the city could pursue creative options like <br />business incubators or the creation of a community market space to lower barriers to entry for <br />local businesses and entrepreneurs. Focusing on local businesses and on existing assets will <br />allow the city to build momentum, thus providing leverage to obtain some of the larger box <br />stores and chains residents might currently travel to reach. <br />Ultimately, cultivating the growth of significant destination retail requires that a city build upon <br />existing assets while focusing on a clear and unique vision. Ramsey has already made <br />incredible progress with pushing the COR development through the Great Recession — by <br />focusing on building necessary housing density and on developing a unique character, the city <br />will be able to demonstrate a strong market for new business. <br />