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

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Market Facts Retail businesses in a commercial area draw 50-80% of their customers from a primary trade area determined by physical and psychological characteristics of the surrounding neighborhoods. Physical features that constrain or expand a trade area include: access to major roadways, edges caused by water, large rail yards or vast tracts of open space, and nearby competition. Psychological factors include a sense of affiliation (e.g., that is my town), perception of safety, and confidence in the quality of the merchandise selection offered by stores in the area. Although the South Gateway Corridor study area was defined as the property adjacent to Michigan and Main Streets extending from the Viaduct on the north through to Ireland Road on the south and the property along Ireland Road to the Scottsdale Mall, the Consultant's investigation suggested that there are at least three different sectors in this area. Each Sector has a different market, its trade area. Maps of each sector follow. The North Sector is dominated by institutional, office and light industrial uses. Significant, recent public and private investment has greatly enhanced this area. Interviews revealed that there are additional improvement plans for this area's properties. Because it is dominated by offices and soon IVY Tech, this sector's population demands convenience retail (Quick Marts, Drug Stores, Florists), services (Hair Care, Dry Cleaning, Day Care), and restaurants. As confidence in the area increases with implementation of this Action Plan, the impressive employment base of 65,000 workers within 3-miles should cause the market to respond with these uses. The South Sector is a strong retail area starting where Michigan becomes two-way at Chippewa and continuing east on Ireland Road to the Scottsdale Mail. Again, there has beer significant, recent investment in this area. The larger trade area created by access to the bypass, the offering of Scottsdale Mall, and the recently opened Kerasotes Theaters drives this development. It is easy to understand this strong activity when the purchasing power of this larger trade area is revealed: Purchasing Power: One -Mile Category ($ Mil) Apparel $110.3 Groceries $243.3 Restaurants $133.1 Home Furnishings $41.6 Implementation of the appearance and organization initiatives outlined in the Action Plan will make this South Sector a more desirable destination trip, insuring the continued, market driven, development of this strong retail environment. The center, mixed use sector presents the greatest challenge as a development market. It's high vacancy rate, one-way traffic pattern, and non -synergistic mix of uses limits market driven development. Still it has nice adjacent neighborhoods and offers opportunities for affordable office and retail space. The purchasing power of nearby residents could support many uses. Business Distracts 1nc.<�,<:.,..:::��.,::.,,�:�...p....:.:....:::....�.:,::.,�...�.,.x.,...........:._.......�:.�.o South Gateway Commercial Corridor Action Plan 0