City Council Study Session Agenda and Packet 2004 10 26

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Prepared by Leland Consultants, Inc. a sub - contractor for EDAW, Inc. MARKET ANALYSIS Methodology In completing an overview of market conditions for the Cihj of Louisville Comprehensive Plan Update, Leland Consulting Group obtained and analyzed secondary market and economic information to supplement primary data obtained through discussions with area business leaders, property owners and City staff; previous work completed in the market; and, meetings with the Technical Advisory Committee and community stakeholders. The analysis that follows has several critical components. The first includes an overview of economic and demographic characteristics that will influence the character and type of development that occurs in the region and planning area. The second includes a review of those market indicators and trends that provide an indication of the health of the market and economy, as well as the potential for growth among proposed land uses. The third includes a quantification of demand by land use along with conclusions about the ability of the planning area to support new nonresidential development (retail, office and industrial). The final component includes an overview of conditions within the subject planning area (from a market perspective) that will influence future development plans. The Market Analysis Section of the Louisville Comprehensive Plan Update is intended to provide the basis for implementation of efforts designed to advance the plan and attract investment necessary to serve future development initiatives. Economic and Demographic Characteristics Economic and demographic characteristics in the market provide an indicator of overall trends and economic health, factors that may affect private and public sector investment decisions. The City of Louisville represents a submarket within the Denver Metropolitan Area (the Metro Area) and Boulder County (the County), and as such, will likely compete with projects from a broader trade area. For this reason, indicators were analyzed beyond the City boundaries. The following discussion summarizes economic and demographic trends, historical and projected, in the City of Louisville, Boulder County and Denver Metropolitan Area over the near- and long -term.