Agenda - Council - 03/11/2003 - Laserfiche WebLink

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Mr. James Norman, City Administrator City of Ramsey FebruarY 21, 2003 Co Demographic Analysis Conduct'interviews with city staff', commercial district businessowners, larger employers in' the area to determine an appropriate primary trade areas for commercial uses at the subject location; combine this information with our knowledge and understanding of the traditional draw areas for various types of retail goods and services. 2. Provide information on growth trends and projections for population, households and employment in the primary draw area; factor in potential growth resulting from residential redevelopment and employment expansion for years 2005, 2010, 2015 and 2020. Analyze information on consumer expenditures (factor in potential spending from new households and employees); Analyze household type from Census data; factor in information on projected household, types that-would be located i.n the proposed housing. Analyze income data for households in the pr/mary draw area; factor in projected incomes of future residents of the proposed housing and incomes of employees at major and smaller employers ~n the immediate area; provide projections thro ugh 2012. Conduct interviews with larger employers in the immediate area regarding future expansion plans, additional employment growth, wage levels, where employees live, etc. to assess the retail potential base that may be captured fi.om employees in the area. Summarize demographic trends and analysis and identify key demographic factors that will drive retail demand for various goods and services on the subject site. RetaiI and Service Market Situation Analysis 1. Work with area businessowners to conduct Zip Code count over period of two to three 'weeks. If business has recent historic Zip Code count data, utilize this information. 2. Identify retail and office shopping areas that compete with the subject commercial district; analyze these concentrations regarding Types of goods and services provided; type of space, anchor tenants, lease rates, mix of businesses and . whether they area local, regional or national, store/office sizes, vacancies, turnover, presentation of merchandise, etc. 3. Through a market supply analysis, identify types of retail.goods and services that could be supported in the draw area where these items are tmderrepresented. 4. Conduct.interviews With retail and office leasing agents, brokers, owners and developers of retail and' office space regarding mix, lease rates, and competitiveness of the retail and services market in this area;. 5. Assess the potential [o attract various types of retail and service-businesses to-this location; assess the potential mix of tenants that would be appropriate. I I I .I I I I I I I I I i I i I I i Maxfietd Research Inc. -226- 5