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Page 119 <br />future development. Branding can transform a city into a place where people want to live, work <br />and visit. A strong retail identity is especially vital when vying with other markets for attention in <br />terms of attracting new businesses. The brand should be based on what assets a city already <br />possesses, rather than who the city wants to become. Thus, Ramsey should work with its <br />unique assets to brand itself in a distinctive manner. <br />The branding of a community involves coordinated activity on the part of community members <br />and the local government to attract potential customers. Refocusing retail in Ramsey towards <br />locally owned businesses and experience -based shopping will not only empower residents of <br />the city who strongly identify with Ramsey's more rural character, but also attract passerby on <br />U.S. Highway 10 who share those interests. <br />Encourage Housing1112 <br />The City of Ramsey continues to seek to attract and develop retail opportunities for the <br />community. Continuing to develop housing, increase households and diversify the housing <br />options will help make Ramsey not only more attractive for prospective residents, but also for <br />the future of commercial economic development within the city, something all residents will <br />benefit from. <br />"Successful retail depends on successful residential neighborhoods". In the past, when <br />development was less risky and more abundant, retail and economic development would be <br />completed prior to housing developments. Since the Great Recession, there has been a shift in <br />that new businesses or retailers want proof of residences already in place before beginning <br />development on a proposed commercial site. It is now argued that where residential growth and <br />development is occurring, economic development is primed to follow. In today's economic <br />climate, even the most stable retailers will be hesitant to move into a location if the surrounding <br />community is not a strong residential market with high spending potential. High -quality and <br />desirable consumers are found in all income brackets, but developers need to be assured that <br />communities are accessible and already spending money in the community, as well as full of <br />long-lasting residents and continuing to grow. <br />Retailers typically weigh a variety of factors when they consider development potential in a <br />proposed area, however some of the most important characteristics across the board are <br />population (density, growth, within a market area), traffic counts, and average income. Ramsey <br />already has a substantial median income of $86,800, so many retailers may be more heavily <br />weighing population growth and market need when considering Ramsey as a location. A <br />community emphasis on housing development would greatly impact the potential of retail, <br />commercial, and business development in Ramsey. <br />Beyard, Michael D., Michael Pawlukiewicz, and Alex Bond. Ten Principles for Rebuilding Neighborhood Retail. <br />Washington, D.C.: ULI - the Urban Land Institute, 2003. http://uli.org/wp- <br />content/uploaads/2012/07/TP NeicihborhoodRetail.ashx 1.pdf <br />12 Gitt, Tammie. (June 1, 2014). Blight or Boom?: Rooftops essential to retail development. The Sentinel. <br />http://cumberlink.com/news/local/warehouses/blight-or-boom-rooftops-essential-to-retail-development/article- <br />4949ee94-e851-11 e3-8da2-001 a4bcf887a.html <br />