City Council Agenda and Packet 2013 05 07 - PG 113 - ATTACHMENT #4

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Economic and Market Assessment City of Louisville, CO Figure 22:Shopping Center Definitions #of %Anchor Center Type GLA Range Acres Anchors GLA Type of Anchors Convenience 5,000-30,000 1-3 1 50-100% Convenience Store Neighborhood 30,000-150,000 3-15 1+ 30-50% Supermarket Discount, supermarket,drug, home Community 100,000-350.000 10-40 2+ 40-60% improvement, large specialty discount Full-line dept.,jr dept., mass merchant, Regional 250,000-800,000 40-100 2+ 50-70% discount dept.,fashion apparel Full-line dept.,jrdept., mass merchant, Super Regional 800,000+ 60-120 2+ 50-70% discount dept.,fashion apparel Source:ULI;TischlerBise Retail Inventory Most of Louisville's retail is contained in three clusters: the area in and around Centennial Valley Business Park; the Downtown, and; Louisville Plaza and the surrounding area in the northeast corner of the City. The Centennial Valley area is home to Louisville's newest national retailers such as Kohl's department store and Home Depot. Louisville's primary competitive supply is in close proximity, comprising the Flatiron Crossing regional mall in Broomfield and the Superior Marketplace, a super community center located on the south side of U.S. 36 across from Centennial Valley. Retail Market Potential A widely accepted measure of retail characteristics is the Retail Market Potential, a comparison of supply and demand that can be used to assess opportunity. An opportunity gap appears when household expenditure levels for a specific geography are higher than the corresponding retail sales estimates. This difference signifies that resident households are meeting the available supply and supplementing their additional demand potential by going outside of their own geography, and is otherwise referred to as leakage. The opposite is true in the event of an opportunity surplus. That is, when the levels of household expenditures are lower than the retail sales estimates. In this case, local retailers are attracting residents of other areas into their stores. The figure below shows a summary of the opportunity gaps/surpluses in annual expenditures for major retail categories. Opportunity surpluses are signified by red type, opportunity gaps are signified by numbers in black type. Market potential is shown for two areas; within the Louisville city limits, and: a 15-minute driveshed from Louisville's center, which encompasses most of the retail supply in the local marketplace, including the Flatiron Crossing super regional shopping center, as well as the cities of Lafayette, Superior, and Broomfield.. 26