Business Retention and Development Committee Agenda and Packet 2014 05 05

Home Browse Search

SUBJECT: ECONOMIC DEVELOPMENT UPDATE DATE: MAY 5, 2014 PAGE2OF3 Louisville is not a regional retail center, but a community center. The ‘barbells’ are Boulder and Westminster. Louisville retailers will tend to be daily needs types of retailers. Louisville is perceived as a bedroom community. Density does drive retail, both rooftops and daytime population. Being high density doesn’t have to be the play. Louisville needs to decide what they want to be. Cannibalization is a very important issue to retailers. Adding another store in Louisville or neighboring market can impact other stores nearby. Louisville should talk up the high incomes, high education It would be helpful to provide traffic pattern information, daytime population, and disposable income information Incentives really help More residential units help retail. It has been important to show that for Louisville Plaza. One thing to help improve retail in Centennial Valley is to remove the landscaping that blocks visibility. Right now, McCaslin doesn’t have a good story to tell (a broker said McCaslin is a bad story). The 36 Corridor is losing to I-25 and is over retailed. I-25 corridor is the preferred spot for retail today, it has lower cost land, and retailers can build to spec. Figure out who you (Louisville) want to be then tell your (Louisville) story. Louisville is not going to be high volume – gear the retail to what the community is Retail may not be the highest and best use for Sam’s Club. With the building selling, the only problems that were solved were Wal-Mart’s problems. Superior Town Center is challenged from the start. The ‘new downtown’ concept hasn’t proven to work and is missing some key ingredients. Retail rental rates aren’t scaring away tenants. Rates do come into play on new construction Retail retention along McCaslin will be difficult. They are looking to other corridors. I would like to hear from the committee members what themes they heard from the meeting. Also, I would like to brainstorm ideas/strategies to begin addressing the themes. RECOMMENDATION: