South Gateway S. Michigan-S. Main Comm. Corridor Action Plan 1998

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External Trends A prerequisite to any revitalization effort is a clear understanding of the specific situation and the context in which it exists. In the case of South Bend's South Gateway, that means understanding its characteristics and those of the community that has shaped it over time. It also means understanding the dynamics of a larger regional and national society, and those of a real estate and commercial industry that responds to society's needs and desires -- even shapes them. It is realistic that virtually all commercial corridors are in a constant state of transition, from their merchandise and personnel to the skylines and open spaces beyond. Change can be beneficial if it is understood, anticipated, and managed to take advantage of its momentum and direction. Following is a summary of national, regional, and local trends. National Trends The U.S. population is increasingly diverse; the majority of future growth will be in the minority and immigrant categories; The population is aging; For the first time in history, national research surveys show consumers more interested in saving time than money; Communication and technology have encouraged globalization of the economy, tele-commuting, corporate re -engineering and electronic shopping; The retail industry is undergoing dramatic reorganization as big box stores dominate many retailing categories; The country is over stored, but more stores are still being opened; More retailers are looking for locations in established business districts, Fully prepared meals constitute more than 50% of all food purchases causing restaurant growth and reconfiguration of grocery stores; Entertainment and dining targeted to families are growth sectors; Consumers are fighting aging by investing in personal care and education; The office market is coming back, stimulated by the growth of small businesses; Housing within or adjacent to business districts has gained in popularity; There is a strong public desire for "sense of place," the arts, and adult educational experiences; Among young consumers, lattes are replacing liquor as the buzz of choice; Spending on the home is increasing with rent payments up 29% and spending on home furnishing up 50% in the last 10 years; Pets are "Kings of the castle" The bright spot in apparel spending is children's clothes. Regional Trends The Designated Market Area of South Bend contains nearly 840,000 people, an increase of more than 30,000 since the 1990 census; The regional economy is strong, including retailing; office and hotel development; Households and businesses continue to seek the greenfield developments on the outskirts of South Bend; Tourism that centers around Museums and Notre Dame Football remains strong Business Districts, /nc. es s,d• ;s _::x:., ua w rttz x a.,- x su-,., u3., n: South Gateway Commercial Corridor Action Plan 4