Strategy @ Work
Updated 03/20/09
MARKET STUDY
Keypoints:
· Downtown is isolated and viewed as unsafe with limited parking
· While there is housing opportunities in downtown, price is a factor
· Downtown should focus on specialty, boutique stores. Let the Big Box stores “go out to Veterans Parkway.”
· While a hotel should certainly be a long-term option, the current market probably doesn’t support it in the short term.
Dena Belzer’s team recently completed a draft of the market study for the strategy. The next step is working on the implementation strategy.
“We came and really looked around at the area,” Belzer said. “You need to understand what the region looked like.”
The study looked at the general constraints and perceptions of downtown; housing and retail opportunities; office space; and the market for a downtown hotel.
“I hate to start on a down note, a bummer note,” Belzer said as she introduced the top constraints for the downtown.
The perceptions of downtown as dirty or unsafe.
“The first step in revitalization is clean and safe. It’s definitely something that needs to be addressed.”
Perception of limited parking
Parking was a major issue, or the perception of a lack of parking. Belzer noted the impact that negative parking has on businesses and better management of the parking system would be one option to improve the perception. The team is still studying the park situation and preparing a report.
Isolation of central area of downtown by the one-way road network
The couplet formed by Business 51 is a major issue for downtown. “We agreed what that’s doing is creating a moat around downtown. It makes it hard to get in,” said Belzer, who described her own difficulty navigating into downtown when she arrived.
Infrastructure concerns including sidewalks and street trees
The care and repair of sidewalks and trees gives impression that downtown is rundown. “The message seems to be that the downtown is not as important to the city as other areas of the city.”
Late night disturbances and litter from bar patrons.
The impact of the bars has both negative and positive benefits. While they bring people into downtown and create a robust nightlife, patrons are often disruptive for the people who live or work in downtown. Also, the litter adds to the perception that downtown is dirty.
HOUSING
The housing study showed that there would be enough demand for 860 housing units by 2030, with a strong future demand for almost 100 rental units in downtown. Younger people moving from rental units and empty nesters downsizing would drive that demand.Currently, rental units have high rents for very large units. “If you look at it by the square foot, it isn’t too bad,” Belzer said. Belzer noted that the large condo units on the market now are not selling as they compete with similarly price houses on the market. “Why should I buy a condo in downtown when I can buy a house in a historic neighborhoods for the same price,” Belzer explained.She projected that smaller, less expensive units would see more success in the future.
RETAIL
“Those big box stores, let them go out to Veterans Parkway,” Belzer said.Downtown doesn’t have the appropriate space or parking for a major retailer and should concentrate on boutique and specialty retail and dining destinations.
She identified the major retail areas along Main and Front streets, with the current downtown anchors of the Bloomington Center for the Performing Arts and the U.S. Cellular Coliseum. If the YMCA would relocate, that would be the third anchor and would drive daytime foot traffic.
She also noted underutilized areas of opportunity are the robust artists’ community and increased nighttime activity. Traffic and parking perception would need to improve to attract customers and retailers. Overall, she said the downtown could support another 39,000 square feet of retail.
Office market
The current office market is stable and unlikely to see rapid growth because of size limitations. The study did show long-term potential for additional growth from small- to mid-sized users.
Downtown Hotel
A hotel would benefit the downtown on several levels, from events to retail. The current and growing number of hotels and rooms in the region, however, doesn’t make it a priority.
Major recommendations
Focus on building a unique vibrant urban pedestrian oriented environment
Build pedestrian connections between the retail nodes, anchors and surround neighborhoods
Improve downtown image via clean and safe efforts
Attract an daytime anchor that draws people regularly
Investigate the addition of a boutique hotel
Updated 12/01/08
Many residents have contacted our office to serve on specific Advisory Councils. These individuals have been grouped and have set (or are soon to set) their first meeting scheduled in the next couple of weeks. Each group will be concerned with specific tasks and ultimately reporting ideas, concerns and history of their specific area to Farr Associates. Thank you all for your interest and support in the future of Downtown!
In addition, Strategic Economics has requested and been given a list of over 100 locals to contact regarding a market analysis of Downtown. This will not only look at what has and currently does exist, but what might be viable in the future of Downtown. They are currently hard at work contacting these individuals for phone interviews and will analyse their findings to help better prepare for the Charrette meeting scheduled for the week of January 13.
Updated 11/11/08
Farr Associates is currently compiling the feedback received from the public meeting, continuing their market analysis with Strategic Economics, and gathering additional base information from the City of Bloomington and the Downtown Bloomington Association. In addition, Strategic Economics has requested and received a list of contacts both who live and/or work Downtown and who are from outside Downtown's "core." They will be calling these contacts to get more in-depth information about specific issues Downtown. This focus on individual interviews is intended to provide Strategic Economics with a more comprehensive look into Downtown and how any changes might effect the region as a whole.
In addition, the Downtown Bloomington Association is currently looking for individuals interested in serving on specific "Advisory Councils." These councils are concerned with specific areas such as parking, environmental impacts, aesthetics, etc. If you are interested in joining an Advisory Council, please click on the "Get Involved" tab located above. These councils will meet 2-3 times over the next few months and will also be available for potential conference calls with Farr Associates. The intention of these councils is to provide the Strategy consultants a more in-depth look at our community, to give history of what solutions may have been tried historically, and to offer insight and potential strategies for the specific area of concern.
Updated 10/24/08
Currently, Farr Associates is preparing for the public meeting set for Nov 6 at 7pm. Utilizing base information, analyzing existing conditions, and initializing a market study, Farr Associates is understanding the current resources available in Downtown Bloomington.