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4. Existing Business Interviews - Owners and managers of businesses. (assumed at <br /> 5-1.0 existing retailers) located in the TH-47 and 167t~ Avenue commercial node <br /> 'will be interviewed via a prepared questionnaire to obtain their observations and <br /> insights on retail trends as well as their perceived or known origin of their <br /> principal customers and other information that may be pertinent to understanding <br /> the dynamics of this marketplace. <br /> <br /> 5. Trade Area Analysis - Based on transportation patterns, drive times and <br /> consultant experience, the trade, area for TH~47. and 167~ Avenue commercial <br /> node will be identified: In consultation with the City of Ramsey, the economy of <br /> the trade area will be analyzed to identify and quantify those factors that generate <br /> present and future support for the retail and service establishments. An in-depth <br /> discussion with the City .will be required:to determine the germane factors to be. <br /> included in the Trade Area Analysis to give the City a comprehensive and <br /> informed tool for future decisions. <br /> <br /> 6. Commercial Area Repositioning - Commercial development potential for the <br /> commercial area'wilI be estimated taking into consideration; competition, <br /> household growth, trade area demographics, purchasing power,, and estimated <br /> market share. <br /> <br /> Based on the purchasing power by retail category, the proximity and strength of <br /> competitive shopping areas, current retail trends and future retail, and service and office <br /> potential for the commercial area at TH-47 and 167th Avenue, recommendations will be <br /> made by each of these business types. " . " <br /> With continuous consultatfon With the City 0fRamsey, ARC's recommendations will <br /> include store formats, facility size and merchandising characteristics, as Well as a <br /> projected retail, service and office space that could be. supported by the sales potential for <br /> the Target years of 2005 and 2010. Further thought may be'given to the type of retail, ~' <br /> commercial and r.esidential configuration that might optimize The City of Ramsey's retail <br /> potential. An example would be the kind of "New Urbanism" approach which has been <br /> developed'in other areas of the Twin'Cities metroplex. . <br />· Process: . ' <br /> <br />A team of analysts from Associated Retail Consulting will' travel to the Ramsey, MN area to ' <br />analyze the subject trading area, and collect the necessary data and. observations while in <br />consultation with. the City of Ramsey. Data and observations include identifying and-evahating <br />competition' for each class of retail trade, identifying future Competitive market changes, and. <br />gathering detailed population estimates and projections, and detailed traffic information: A <br />meeting, with The City of Ramsey personnel wilt be required to discuss current and planned <br />development activities (retail, residential, transportation) for the region. The field assessment <br />phase of this project'will' accomplish tasks 1 and 3. . <br /> <br />CENTRAL OFFICE: <br /> <br />612 Oak Parr Lane <br /> <br />· Hopkins, MN 55343 <br /> <br />· Tel: (952) 939-9183 Fax: (952) 939-8056, <br /> <br /> <br />