Understanding Your Market for Redevelopment

1. Using data to drive redevelopment
Joe Getz, Principal

2. 2014 statewide survey
Redevelopment efforts
175 municipalities
71% redevelopment area
This is all about you.

3. Important v. effective
89%
67%
64%
28%
34%
24%
Improve retail mix
Market to developers
Compile market data
Important
Effective

4. Stalled local economy
Struggling downtown
Case study: Glassboro

5. Almost a college town
Rowan University
Downtown Glassboro

6. Solution: Rowan Boulevard
Rowan University
Downtown Glassboro

7. Development concept
72 townhouses
154 apartments
Neighborhood retail

8. Consumer survey
Residents
Workforce
Shoppers
Visitors
Unique data
– Who shops here?
– Who doesn’t & why?
– What’s difficult to find?
– What do you want here?
– What will make you visit?
– Development you’ll support?

9. Survey discovered
Market not municipality
Supported redevelopment
More people than St. Louis
More spending than Atlanta
Growing sea of suburbs
No downtown in 10 mile
Visit 8 times/month
Key findings
– Want a walkable downtown
– Want restaurants w/sidewalk dining
– Want theater, arts/crafts, housewares
– Want Barnes & Noble

10. Student survey
Supported redevelopment
Catalyst for redevelopment
Spend $8.8 mil in 9 mos.
Like to drink beer

11. Development conceptNew &
Improved
Plan grew 8x
– 26 acres
– Student housing
– Hotel/conf center
– Cinema & theater
– Parking garages
– 200,000 sf retail
– 40,000 sf office
– Town square

12. Here’s where it began
Here’s what’s happened
Just to remind you…

13. $350 million in private investment

14. Barnes & Noble bookstore

15. Hotel & Conference Center

16. Student housing

17. New retail stores & foot traffic

18. Town square

19. Stores, restaurants & apartments

20. Parking garages

21. Downtown events

22. Upscale apartments

23. More to come

24. Daytime activity

25. Evening activity

26. Nighttime activity

27. Rowan Boulevard

28. Glassboro

29. Avoid public opposition
Move project more quickly
Reduce risks for developer
Increase predictability
Lower overall costs
Using data to drive redevelopment