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3 <br />Encouraging Small Business Growth and Expansion <br />Ramsey COR Retail Market Analysis <br />Project Background <br />Ramsey's COR and Retail Attraction <br />Unlike many other smaller suburban towns, the city of Ramsey did not have a historic downtown <br />to restore to its former glory as the city continued to grow. Instead, private developers and the <br />city itself worked together to create a new downtown from scratch: the Center of Ramsey or <br />COR. Located on nearly 400 acres of former soybean fields and vacant lots, the COR combines <br />dense residential and commercial development, municipal offices, and a stop of the NorthStar <br />commuter line to create a walkable heart for Ramsey. Although the recession in 2008 slowed <br />work on the COR project, new residential and commercial developments have continued since <br />2011 when the City took over as master developer. The COR is well on its way to becoming a <br />thriving community center, with popular draws like the Happy Days Festival and a local farmers <br />market. <br />Fashioning a downtown from a blank slate allowed for creativity and innovation, especially with <br />the promise of construction of the NorthStar commuter rail station right at the center. The city of <br />Ramsey had a vision of creating an economically successful, walkable, transit -oriented town <br />center — over the past decade the community has worked tirelessly to make the vision a reality. <br />However, residents still find that they must travel outside Ramsey for much of their shopping <br />and entertainment activities. Many chain stores and restaurants have been reluctant to locate <br />within the COR, especially when there are established retail developments in nearby Coon <br />Rapids and Anoka. Each day, over 12,000 Ramsey residents travel outside of the city for work; <br />many of those workers likely find it more convenient to stop at existing retail nodes on their way <br />home.' For traditional large -format retail and chain restaurants, both residential statistics <br />(needing "more roofs") and travel patterns are key. Since Ramsey has been unable to compete <br />as yet with existing retail cores based on the number of roofs or the number of cars passing <br />each day, the city will need yet again to find creative solutions for drawing in needed businesses <br />until the roofs are ready. <br />1 US Census Bureau, OnTheMap <br />