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I9 <br />opportunities was provided, but the analysis lacked in providing solutions or strategies for how <br />Ramsey could best fill the vacant retail opportunities in the COR. <br />Town Centers and the 50/50/50 RuIe5 <br />Robert J. Gibbs is a leader and pioneer in the realms of New Urbanism, town planning, and <br />retail development. He is known for developing inventive yet practical methods for encouraging <br />commercial development. With his economic background, he pushed for areas to begin <br />focusing on town centers over shopping malls, notably in the early 2000's. Town centers would <br />be the new innovative development to attract retailers over the conventional mall. Gibbs <br />envisions town centers as places home to striking public spaces as well as mixed -use <br />development, home to residential, retail, and public service structures. <br />Even though individual retailers, brands and companies may have specific variables and <br />requirements they seek for a new location, there are some basic principles that must be in place <br />for a successful retail sector. Visibility, location, and parking availability are all general <br />guidelines that a town must consider when attempting to capture new retail development in a <br />town center. <br />Alongside these principals Gibbs developed the 50/50/50 rule for town centers seeking retailers. <br />This rule provides that retailers pursue locations with 50,000 people in the retail trade area, a <br />median income of $50,000, and at least 50,000 cars per day going by the town center. <br />Ramsey successfully meets the population and income portions of Gibbs rule, but like other <br />third -ring suburban town centers is lacking in traffic count, a factor the city has acknowledged <br />and is working to address. Given the city's location along Highway 10, and the COR's proximity <br />to the major trafficway, Ramsey's COR should be well on its way to being a viable location for <br />retail tenants. With this knowledge, and the results from Claritas data Ramsey can focus on <br />simplifying the process to obtain and develop property within the COR, and work on providing <br />assistance as needed to local, regional or national developers. Through our recommendations <br />of targeting related retailers, small businesses, and continuing plan the develop the COR's <br />housing, Ramsey lends itself to a good position for attracting successful retailers. <br />2017 Claritas Data Report <br />To inform recommendations in this report, our analysis utilized data from the Consumer <br />Expenditure Survey and the Census of Retail Trade, conducted by the Bureau of Labor <br />Statistics and US Census Bureau, respectively. The Claritas Retail Market Power dataset finds <br />sales gaps in markets by looking at where money goes within a specified area —what is spent <br />within the district - while the Consumer Buying Power dataset estimates where residents' own <br />money is going outside of the district. <br />5Steuteville, Robert, The future belongs to town centers, January 2002. Public Square, CNU Journal <br />https://www.cnu.org/publicsquare/future-belongs-town-centers <br />