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<br />INTlWDUCTION <br /> <br />McComb Group, Ltd. was engaged to conduct market analysis to identify redevelopment <br />potential for the Rum River commercial area at the intersection of TH-47 and 167th Avenue in <br />Ramsey. The objectives oftms engagement were to: evaluate the commercial area and its tenant <br />mix; identify competitive shopping areas; delineate the commercial area's trade area and <br />estimate future residential households; estimate demand for retail, service and office uses of the <br />commercial area; and identify those retail. service and office uses that are consistent v.rith the <br />commercial area's location and trade area. \Vorks tasks conducted during this engagement are <br />summarized below. <br /> <br />. Business establishments in the Rum River Commercial Area were categorized by type. <br />The commercial area was evaluated including, but not limited to: ingress and egress, <br />access, visibility, current and future traffic counts, and relationship to adjacent uses. <br /> <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />. Retail and service businesses in the Rum River Commercial Area were conducted a brief <br />survey of their customers to detennine residence zip codes, work zip codes, and reason <br />for stopping at each business. Survey results were evaluated to detennine the trade area <br />and reasons that customers shop at the various retail and service establishments. A <br />customer spotting survey_ was also conducted at leTourneau's SuperValu to identify <br />specific residence location. <br /> <br />. Shopping areas that compete with the Rum River Commercial Area were identified and <br />evaluated. Principal competitors and their supermarkets were identified and evaluated for <br />tenant mix, anchor stores, and merchandise presentation. <br /> <br />. 'Owners and managers of businesses in the Rum River Commercial Area were <br />interviewed to obtain their observations on retail trends, where their customers live, and <br />other infonnation pertinent to the study. <br /> <br />. The trade area for the Rum River Commercial Area was delineated, The economy of the <br />trade area was analyzed to identifY and quantifY those factors that generate support for <br />retail and service establishments. Factors evaluated included, but were not limited to: <br />employment, -population, households, building permits, and household income. New <br />housing that can be accommodated by redevelopment in the vicinity was quantified, <br />Trade area growth trends were evaluated to determine residential growth potential for <br />target years onoos, 2010, 2015 and 2020. <br /> <br />. Commercial development potential for the Rum River Commercial Area was estimated. <br />Based on purchasing power, competi.tive shoppmg areas, and current !etail trends, future <br />retail, service and office potential for the commercial area was estimated by business <br />type. Recommendations for store types, size, and merchandising were prepared. <br />Estimates of retail, service and office space supportable by sales potential was prepared <br />for target years of2005 and 2010. <br /> <br />I <br /> <br />1 <br /> <br />24 <br />