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Economic and Market Assessment City of Louisville, CO <br /> Figure 25: Calculation of Years to Retail Market Equilibrium <br /> 1 Total retail sales' $3,208,742,255 <br /> 2 Retail sales per capita2 $13,660 <br /> 3 Supportable population3 234,901 <br /> 4 Actual population in trade area' 214,392 <br /> 5 Customers outside trade area 20,509 <br /> 6 2010-2035 projected annual population growth4 2,161 <br /> 7 Years to market equilibriums 9.5 <br /> Esri Business Services <br /> 2 U.S. Census 2010 <br /> s Line 1/Line 2 <br /> 4 Louisville, Lafayette,Superior,Broomfield(see Figure 18) <br /> s Line 5/Line 6 <br /> Conclusion <br /> Findings of the retail analysis show a local supply that is more than sufficient to meet the demands of <br /> the residents and workers in Louisville. This is due largely to the presence of a nearby regional mall and <br /> its satellite shopping centers and stores, as well as specialty "big box" stores in and around Louisville, <br /> which draw from a large trade area. Thus, the potential for significant new retail development at the <br /> community shopping center level or higher is likely very limited for the next decade, as demonstrated by <br /> the closures of the 55,000-square-foot Safeway on South Boulder Road and the 140,000-square-foot <br /> Sam's Club discount department store on McCaslin Boulevard. <br /> Nonetheless, there is the potential to regain lost retail base if trends are recognized and capitalized <br /> upon. Louisville's historic downtown is a destination attraction with a unique position in the local <br /> marketplace, which holds the potential for additional food & beverage, as well as specialty retail. The <br /> opening up of the area east of the downtown through construction or the pedestrian railroad underpass <br /> will introduce opportunities for mixed use development that should enhance the retail supply and <br /> demand dynamic in that area. <br /> The aforementioned North End and Steel Ranch developments are slated for 43,700 square feet and <br /> 60,000 square feet of non-residential space, respectively. This space could be potentially occupied by <br /> personal or professional services, or retail merchandisers. A plan has been proposed for the old Safeway <br /> site on E. South Boulder Road, which calls for 25,000 square feet of grocery space, 8,000 square feet of <br /> ancillary retail, in addition to 111 housing units. A provision for residential/mixed use projects in <br /> Centennial Valley through rezoning could also enhance the attraction of additional retail to that area. <br /> 30 <br />