WELCOME WMATA NORTHERN BUS GARAGE REDEVELOPMENT COMMUNITY WORKSHOP #1 W H I L E Y O U AR E WAI TI N G. . . P L E AS E M AR K Y OU R C AL E N D AR S F OR TH E N E X T W OR K S H OP ON 2 / 11 F OR 6 P M , H E R E ! 1
WELCOME + INTRODUCTIONS Time Item Person In Charge 6:00 – 6:15 Sign In / Grab Seats / Snacks Streetsense 6:15 – 6:25 Opening / Introduction Councilmember Todd 6:25 – 7:30 Kickoff Meeting Presentation Heather Arnold (Streetsense) 7:30 – 8:00 Voting and Comments Prior to Departure Streetsense 2
WELCOME TO THE MEETING SERIES BUILDING ON VARIOUS TOPICS TBD TBD February 4 February 11 Today’s Meeting: Defining Streetscape/ Unified Vision * Kick-Off Retail/Community Commercial Activation District Presentation on Opportunity Opportunity • Goals and Process Workshop • Thinking about a Outcomes and February 25 Commercial District Activation Space Sidewalks, streets, Community • Examine Development landscaping and Recommendations Opportunity furniture •Retail Market Q1 Quarterly •Overview of Non-Retail Project Meeting Uses • Invite Your Initial Feedback 3
WHO ARE WE? DCOP Central 14 th 2010 Street Vision Plan and Revitalization Strategy DCOP Central 14 th Street selected as a 2013 Vibrant Streets neighborhood Streetsense Central 14 th Street 2017 Commercial District Retail Inventory Update Northern Bus Garage 2020 Retail Study 4
WHAT ARE WE DOING? • Understanding Market Potential • Identifying the Root and Specifics of Community Vision • Testing Retail and Non-Retail Opportunities • Translating Ideas to the Streetscape 5
THINKING ABOUT THE 2-BLOCK DISTRICT • Complementary, not competitive. • Opportunity to get ideas started on both sides of the street. • How does improved streetscape change how people look at this area? • What resources can be used to bring the best opportunities to both sides of the street? 6
RULES OF ENGAGEMENT • Assume that everyone has the best intentions. • Share all relevant information. • Explain reasoning and intent. • Come out of a position corner. • Listen. • Don’t be afraid to ask questions, but please hold them until the end of each section. • One question per person until everyone who wants a chance has one. 7
RETAIL ECONOMICS IN 10 MINUTES Retailer Site Selection Corridor Composition Sales Requirements Right-Sized Retail 8
RETAIL 101 ECONOMICS OF RETAIL Retail as Identity Retail as Amenity Retail as $$$ Generator Retail as Place-Creation Retail as Commerce 9
NEIGHBORHOOD DISTRICT RETAIL 10
RETAIL 101 ECONOMICS OF RETAIL 11
RETAIL 101 ECONOMICS OF RETAIL Who wants a bakery in our neighborhood? 12
HOW RETAILERS THINK ABOUT OPPORTUNITIES Wegman’s $86M Est. Annual Sales Whole Foods $36M Est. Annual Sales Trader Joe’s $21M Est. Annual Sales Aldi $12M Est. Annual Sales Mom’s Organic $8M Est. Annual Sales EXAMPLE: Food at Home 13
RETAILER SITE SELECTION: HOME DECOR N1 N2 N3 Example Neighborhoods Population: 39k 52k 16k 35,000 + within 3 miles Avg HH Inc: $83k $63k $50k+ within 3 miles Min. Education: Grad College College Competitive Low High Environment: Low to Moderate Appropriate Site 3,000 sf Available signed 14
RETAILER SITE SELECTION: NAIL SALON N1 N2 N3 Example Neighborhoods Population: 32k 17k 8k 5,000+ within 1 mile Avg Household Income: $38k $45k $82k $25,000+ Daytime Population: 9k 11k 18k 10,000+ within ¼ mile Competitive High High High Environment: High 1,800 sf 1,200 sf 1,000 sf Appropriate Site Available signed signed signed 15
RETAILER SITE SELECTION: ORGANIC GROCER Example N1 N2 N3 Neighborhoods Population: 30k 18k 27k 10,000+ within 1.5 miles Avg Household Income: $62k $85k $44k $45,000+ Traffic Count: 14k 7k 22k 12,500 AADT+ Applicable Incentives: Priority Development No Yes Area Appropriate Site 6,500 sf Available signed 16
RETAIL IS CHANGING (AND IT’S NOT) Customer Behaviors Overbuilding Willing to Take Risks Mixed-Use / Experience 17
RETAIL MARKET EVOLUTION What’s Changing What’s Not Changing Regional retailers (in Retailers still need to be able particular) are venturing into to generate minimum sales. areas where the typical numbers wouldn’t have justified a new location in the past. 18
RETAIL MARKET EVOLUTION What’s Changing What’s Not Changing High-risk opportunities are High risk opportunities are having some success in low- also failing. density neighborhoods. 19
RETAIL MARKET EVOLUTION What’s Changing What’s Not Changing Retail is not the only answer Communities still view retail to sidewalk activation. as validation. 20
COMMERCIAL DISTRICTS IN 5 MINUTES 21
WHAT DOES IT MEAN TO HAVE A HEALTHY RETAIL ENVIRONMENT? • Low vacancy • Competition for spaces • High enough sales to warrant reinvestment …sometimes, less is more! 22
APPLY THIS HERE! 23
CONTEXT: SURROUNDING RETAIL DEVELOPMENT 24
RETAIL OPPORTUNITY: COMPETITION 25
RETAIL OPPORTUNITY: COMPETITION • Major grocers think they have you covered • Some small grocers may be willing to depend on customers within walking distance 26
TRADE AREA • Primary Trade Area • Approximately 3,400 households • Daytime population of approximately 2,300 people • Most likely to purchase NG&S on a regular basis • Secondary Trade Area • Approximately 14,000 households • Daytime population not considered • Options closer to home, is unlikely to go out of their way for convenience based trips 27
RESIDENTIAL DEMOGRAPHICS PRIMARY TRADE SECONDARY AREA TRADE AREA MEDIAN ANNUAL $105,000 $70,000 HOUSEHOLD INCOME AVERAGE AGE 41 35 PEOPLE PER HOUSEHOLD 2.6 2.6 FAMILY HOUSEHOLDS 55% 55% 28
DAYTIME POPULATION DEMOGRAPHICS EMPLOYEES (PTA) EDUCATORS* 600+ WMATA EMPLOYEES/ BUS DRIVERS 400+ HEALTHCARE AND SOCIAL ASSISTANCE 300+ *Number likely to be reduced by 90 employees at closing of the Kingsbury Center. 29
TOTAL RETAIL DEMAND FOR THE CORRIDOR 32,300 SF of existing space occupied by retail tenants 30
UNMET RETAIL DEMAND FOR THE CORRIDOR 31
SOURCES OF RETAIL MARKET DEMAND 32
WHAT DOES THAT MEAN? What retail we could have What we couldn’t have today • Small-format neighborhood • Big box retail goods • Boutique general • Neighborhood services merchandise cluster • Small-format food & beverage • Full-service grocery store • National chains willing to • Childcare facility (on Bus operate in small spaces Garage site) 33
RETAIL MARKET DEMAND 15,000 Market- Supportable New Space at What does that Square Feet of the Bus Garage mean? Retail 34
RETAIL APPROPRIATE/COMMERCIAL FLEX SPACE Contribute to street Retail Potential Non-Retail Potential Public/Private Space 35
ACTIVATING SPACE 36
STRATEGY FOR ACTIVATING WITH COMMERCIAL SPACE Retail Uses o Sidewalk activation o Community building o Residential amenity o Place-making o Gathering place o Walkable environment Non- Retail Uses 37
INITIAL IDEAS FOR NON-RETAIL USES 38
BUILDING A NEIGHBORHOOD COMMERCIAL DISTRICT HERE Identifying Anchors Activating Space Considering Strategy Recognizing Local Conditions 39
RETAIL IMPEDIMENTS AND OPPORTUNITIES Challenge Opportunity Limited Visibility Devoted Customer Base 40
RETAIL IMPEDIMENTS AND OPPORTUNITIES Challenge Opportunity Limited Parking WMATA as Property Owner 41
RETAIL IMPEDIMENTS AND OPPORTUNITIES Challenge Opportunity Difficult Physical Spaces Distinctive Architecture 42
HOW ARE WE GOING TO DO THAT? Market Site Physical Community Tenanting Mission Potential Selection Conditions Input Strategy 43
VOTE THE ROOM VAL ID ATIO N S EXER C ISE 44
THANK YOU NBGretail@streetsense.com www.streetsense.com / DC / MD / NY / SF
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