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DOWNTOWN DASHBOARD MUSIC RETAIL LOCAL FOOD ART BUSINESS 2016 M ain S t reet IN C. EST. 1880 S I L O A M SPRINGS

ART RETAIL DOWNTOWN DASHBOARD - Main Street Siloam Springs€¦ · Welcome to the Downtown Dashboard. Here you will find an economic snapshot – a picture of downtown Siloam Springs

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Page 1: ART RETAIL DOWNTOWN DASHBOARD - Main Street Siloam Springs€¦ · Welcome to the Downtown Dashboard. Here you will find an economic snapshot – a picture of downtown Siloam Springs

DOWNTOWNDASHBOARD

MUSIC

RETAIL

LOCALFOOD

ART

BUSINESS

2016

Main StreetI N C.

E S T. 1 8 8 0

S I L O A MS P R I N G S

Page 2: ART RETAIL DOWNTOWN DASHBOARD - Main Street Siloam Springs€¦ · Welcome to the Downtown Dashboard. Here you will find an economic snapshot – a picture of downtown Siloam Springs

2 SILOAM SPRINGS DOWNTOWN DASHBOARD mainstreetsiloam.org

Introduction Letter ................................................... 3

Main Street Siloam Springs Team ................................. 4

About the Downtown Dashboard .................................. 4

Downtown Master Plan .............................................. 5

Municipal Investment (2005-2015) ........................... 6-7

Population Data ....................................................... 8

Downtown Retail Market ............................................ 9

Downtown Office Market ...........................................10

Downtown Residential Market ................................. 11-12

Culinary & Restaurants ............................................. 13

PHOTO CREDIT KEY

TABLE OF CONTENTS

Feyerabend Photoartists

Kari Kidd Photography

Dan Lambert

Meredith Bergstrom

City of Siloam Springs

Lightning Bolt Advertising

Don Shreve

Jonathan Seauve

Other

Arkansas Department ofParks & Tourism

Cover Photo: Kari Kidd Photography

Page 3: ART RETAIL DOWNTOWN DASHBOARD - Main Street Siloam Springs€¦ · Welcome to the Downtown Dashboard. Here you will find an economic snapshot – a picture of downtown Siloam Springs

3 SILOAM SPRINGS DOWNTOWN DASHBOARD mainstreetsiloam.org

Introduction Letter

Welcome to the Downtown Dashboard. Here you will find an economic snapshot – a picture of downtown Siloam Springs expressed through this visual and narrative document. We will use the measurements here, now and over time, to build a more authentic understanding of downtown’s successes, opportunities and impacts on the community and region at large. More importantly, think of this as an invitation to find out how your story might begin or expand here, in downtown Siloam Springs.

Siloam Springs has an incredible story to tell. Just ten years ago, vacant or underused buildings lined the majority of the downtown streetscape. Features like Sager Creek, notable architecture, and pedestrian-oriented sidewalks gave visitors the impression of great potential, but lacked the ability to attract and sustain customers.

Since that time, close to 30 new businesses have opened and sustained business downtown, adding a net of 100 new jobs in the community. Award winning restaurants and coffee shops now provide a downtown culinary experience previously sought outside of town. An estimated $17M has been reinvested in property purchases, building rehabilitation, and public improvements. Local entrepreneurs have created unique business models in the form of a high-end bed and breakfast, on-demand screen printing, hand-sewn clothing, home and clothing boutiques, custom bath products, dance studios, salons and spas, information and technology services, and more. Twenty-nine unique retail shops now beckon “Welcome” from within the downtown district.

This recent reinvestment – along with our three beautiful parks, walking trails, a historical museum, dynamic events, farmers markets and festivals, and graceful Sager Creek meandering throughout – make downtown truly an exciting backdrop for entrepreneurs and creative ideas. Successful partnerships between the City of Siloam Springs, the Siloam Springs Chamber of Commerce and Main Street Siloam Springs have helped to draw the attention of the larger area to the revitalization happening in our downtown. Industry leaders throughout Siloam appreciate the vitality downtown, and showcase the district when hosting customers and prospective employees.

Loft and apartment life in downtown Siloam Springs is at an all-time high. Close to 50 lofts and apartments within the main historic downtown stay fully occupied, and 80% of these have been either recently opened after a complete building rehabilitation or beautifully renovated within the last ten years.

Downtown festivals and public celebrations are cultivating a renewed sense of community. From the weekly Farmers Market in City Park to annual events like the Homegrown Festival, the Heritage League’s Light Up Siloam Springs Christmas Parade, Quarterly Girls Night Outs, Parks and Recreation’s Second Saturday Music Series, and the Chamber’s spring Dogwood Festival – downtown is lively and exciting during all seasons.

All of us here at Main Street Siloam Springs are passionate enthusiasts of downtown Siloam Springs, and that enthusiasm drives our vision to preserve and enhance downtown as a vibrant destination where our community springs to life. Our staff and Board of Directors are privileged to be doing this work at such a pivotal time, and we invite you to come and be part of the experience.

DOWNTOWNDASHBOARDMain Street

I N C.

E S T. 1 8 8 0

S I L O A MS P R I N G S

Page 4: ART RETAIL DOWNTOWN DASHBOARD - Main Street Siloam Springs€¦ · Welcome to the Downtown Dashboard. Here you will find an economic snapshot – a picture of downtown Siloam Springs

4 SILOAM SPRINGS DOWNTOWN DASHBOARD mainstreetsiloam.org

Main Street Siloam Springs BoardMeghan Feyerabend (President), Lokalen Frame Shop / Pure Joy Ice Cream

Tammy Engle (Vice President), Arvest Bank

Ed Ericson (Treasurer), John Brown University

Jessica Pinkerton (Secretary), Cobb

Ex OfficioDon Clark, City of Siloam Springs Community Services Director

Ben Rhoads, City of Siloam Springs Senior City Planner

Meghan Kenney, Siloam Springs Chamber of Commerce Economic Development Director

Other membersJulie Chandler, Creative Corner on Broadway

Shirley Dilbeck, AEP Swepco

Cammi Hevener, Ward Jones Realtors

Ryan Kinnaman, Alternative Design

Shelley Simmons, 28 Springs Restaurant

About the Downtown Dashboard A project of Main Street Siloam Springs, Inc., the Downtown Dashboard contributors include: Main Street Siloam Springs, Collateral Valuation Consultants of Arkansas, Newmark Grubb Arkansas and the City of Siloam Springs.

Information included in this report comes from Arvest Bank and their Skyline Report, the U.S Census Bureau, Customer Expenditure Survey, Census of Retail Trade, U.S. Bureau of Labor and Statistics and Nielson RMP, among others. Design provided by Greg Moore. The original template for this report was curated by the Daniel Hintz, owner and founder of the Velocity Group.

About the Downtown Dashboard Research TeamNewmark Grubb Arkansas partnered with the research team of Collateral Valuation Consultants of Arkansas in providing data for this Dashboard. Newmark Grubb Arkansas is a locally owned, full service commercial real estate firm with offices in downtown Bentonville and downtown North Little Rock. Paul Esterer, principal and co-founder of Newmark Grubb Arkansas and Vanadis 3 Companies, has been active in downtown Bentonville and the State of Arkansas in place making economic development and real estate advisory work.

Newmark Grubb Knight Frank (NGKF) is one of the nation’s best-known commercial real estate brands. Headquartered in New York, Newmark Grubb Knight Frank and London based partner Knight Frank operate from more than 300 offices in established and emerging property markets on five continents. They also advise properties worldwide.

To read more about the Newmark Grubb Knight Frank brand, please visit www.ngkf.com.

Collateral Valuation Consultants of Arkansas is a provider of real estate valuation services. Since the bursting of the US housing bubble in 2006 and resulting Financial Crisis of 2008, a number of regulations were passed down to financial institutions in an attempt to strengthen their collateral valuation programs. A by-product of these regulations has been increased costs of doing business and the financial burden of staffing “qualified” professionals to facilitate these services. As CVC of Arkansas began to recognize how this was impacting some of the smaller financial institutions in Northwest Arkansas, they decided to launch their business in February of 2013. For more information, you can visit their website at www.cvcofarkansas.com.

Kelsey HowardExecutive Director

Anna GibsonMarketing Assistant John Brown University

Stacy HesterEvent CoordinatorFarmers Market Manager

MAIN STREET SILOAM SPRINGS TEAMMain StreetI N C.

E S T. 1 8 8 0

S I L O A MS P R I N G S

Page 5: ART RETAIL DOWNTOWN DASHBOARD - Main Street Siloam Springs€¦ · Welcome to the Downtown Dashboard. Here you will find an economic snapshot – a picture of downtown Siloam Springs

5 SILOAM SPRINGS DOWNTOWN DASHBOARD mainstreetsiloam.org

Building upon the momentum and success of Siloam Springs’ downtown revitalization story over the last ten years, the Downtown & Connectivity Master Plan was launched in 2014. The purpose of the plan is to continue preservation and improvements in downtown’s built environment through infrastructure and facility planning, to ultimately realize a more vibrant urban core. A particular focus is placed on opportunities to leverage and enhance public assets such as Siloam Springs’ park spaces, Sager Creek, the off-road trail system, and the original spring sites; to create walkable and bikeable downtown streets; and to promote further economic development. In addition, the plan seeks to create better connections between downtown and its surrounding neighborhoods, JBU and other assets in the city and region. The plan positively impacts quality of life for all members and visitors of the Siloam Springs community.

Main Street Siloam Springs worked in close collaboration with the City of Siloam Springs, downtown leaders, and community stakeholders to facilitate the creation of the plan. Dover Kohl & Partners - an urban design and planning firm out of Coral Gables, Florida - researched, led community input, and wrote the final document. The plan was adopted by the Siloam Springs City Board of Directors in August 2014, with the goal of completing implementation by 2021. Since that time, several major projects have been completed and several more are underway:

• The City of Siloam Springs commissioned a new study of downtown flood maps

• Five bike racks have been installed near car parking stalls downtown

• New banners designed and installed on Mt. Olive Street

• City approved, built and opened a $4.7M new Public Library downtown

• “Beyond the Frame” Public Art Initiative created four installations, including a large “Greetings from Siloam Springs” mural

• Siloam Springs taxpayers renewed an existing 3/8 cent sales tax and reallocated 50% of the funds toward quality of life improvements, including master plan implementation

• City began a Mt. Olive Street “road diet” in November 2016, which includes significant sidewalk, roadway and parking improvements.

• City Parks and Recreation completed a street tree project in November 2016, which replaced trees downtown on Broadway Street

• Further and research and plans are underway to begin developing the site around the new library, to include a combined Farmers Market/amphitheater pavilion and splash pad

WR

IGH

T

MT.

OLI

VE

MAX

WEL

L

HIL

L

N. WAS

HINGTO

N

WASHINGTON

MAIN

E. MAIN

MAIN

CENTRAL

UNIVERSITY

JEFFERSONM

AXWELL

CO

LLEG

E

BRO

ADW

AY

S. M

T. O

LIVE

UNIVERSITY

ALPINE

KENWOOD

HARVARD

TULSATULSA

GRANITE

BRIT

T

GU

NTE

R

KENWOOD

WAS

HIN

GTO

N S

T.

MT.

OLI

VE

BENTON

TALEQUAH RD.

HELENA ST.HELENA ST.

GARLAND

FRANKLIN

CORNELL

ELGIN ST.

GARLAND

BENTON

ELM

CAR

LC

ARL

412

HIC

O

412

STUDY AREA

MASTER PLAN AREA

ABOUT THE MASTER PLAN

DOWNTOWN MASTER PLAN

Figure 1: Limit of Downtown Analysis

Page 6: ART RETAIL DOWNTOWN DASHBOARD - Main Street Siloam Springs€¦ · Welcome to the Downtown Dashboard. Here you will find an economic snapshot – a picture of downtown Siloam Springs

6 SILOAM SPRINGS DOWNTOWN DASHBOARD mainstreetsiloam.org

MUNICIPAL INVESTMENT (2005-2009)

Land Purchase for Infill Public Parking

Sewer-line Installation for First Large PropertyRedevelopment

Sager Creek Restoration Phase 1

Downtown Parking Areas Re-striping

Electric Improvements for Downtown Property Rehabilitation Projects

Dogwood Festival Electric Improvements

2005 2006 2007 2008 2009

Sager Creek Wall Restoration Preparation Work

Main Street Overlay Street Improvements & Re-striping

Holiday Lighting Electric Improvements

Twin Springs Park Fountain Restoration

Sager Creek/Twin Springs Rock Wall Repair

Long Term Parking Design Plan Adopted

Upgraded Downtown Crosswalks with Stamped Concrete

Page 7: ART RETAIL DOWNTOWN DASHBOARD - Main Street Siloam Springs€¦ · Welcome to the Downtown Dashboard. Here you will find an economic snapshot – a picture of downtown Siloam Springs

7 SILOAM SPRINGS DOWNTOWN DASHBOARD mainstreetsiloam.org

2013 2011 2012 2010

Way-finding Signage System Installed

New Street Sign Post Project

Light Pole Upgrades

City Park Gazebo Restoration

Christmas Light LED Conversion

South Broadway Parking Lot Refurbishment

Restriped Broadway Street

Landscape Improvements to South Broadway

Street Parking Lot

New Roof Installed on Old Post Office

$4.7M New Siloam Springs Library Opened

MUNICIPAL INVESTMENT (2010-2015)

Construction of New Low Water Bridge

Bridge Lighting Upgrade

Purchase of the Old Post Office forNew Museum Location

Twin Springs Park Irrigation Work & Accessibility Improvements

New Trash/RecycleReceptacles Installed

Construction of New University Street Bridge

Skate Park Addition and otherBob Henry Park Updates

Downtown Banners Installed

Sidewalk Accessibility Improvementson Maxwell Street

New Library Site Study Commissioned

Pedestrian Wayfinding Installed

Continued Sidewalk Improvements

Fountain Repair & Improvements in Sager Creek

Bike Racks Installed

Greenery & Holiday Season Decor Improvements

Sager Creek Restoration Phase 2

Downtown Sidewalk Repairs

Downtown Lighting Fixture Repairs

2011 2012 2013 2014 20152010

Page 8: ART RETAIL DOWNTOWN DASHBOARD - Main Street Siloam Springs€¦ · Welcome to the Downtown Dashboard. Here you will find an economic snapshot – a picture of downtown Siloam Springs

8 SILOAM SPRINGS DOWNTOWN DASHBOARD mainstreetsiloam.org

POPULATION DATA

D O W N T O W N S I L O A M S P R I N G S P O P U L A T I O N D A T A

*projectedFigure 2

POPULATIONESTIMATE

2,387

2,661

2,752

2,812

POPULATIONGROWTH

N/A

11.47%

0.43%

2.18%

NO. OF HOUSEHOLDS

936

983

1,015

1,037

HOUSEHOLDGROWTH

N/A

5.06%

3.25%

2.16%

% OWNEROCCUPIED HOUSING

53.31%

51.97%

50.97%

N/A

PER CAPITAINCOME

$17,390

N/A

NA

NA

AVERAGE HOUSEHOLD INCOME

$43,074

N/A

$62,801

$74,951

YEAR

2000

2010

2016*

2021*

• Average Household Income is projected to increase in 2016 to over $62,000 annually, reflecting a 2.86% average increase since 2000 (CPI has averaged approximately 2% annual increase over the same period)

• Estimated population growth from 2010 to 2016 is projected to be just under 0.43% annually in downtown Siloam Springs, compared with a 3.13% annual increase in the City of Siloam Springs since 2000.

• Renters appear to be slightly increasing in numbers as percent of total housing units’ occupants in downtown.

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9 SILOAM SPRINGS DOWNTOWN DASHBOARD mainstreetsiloam.org

consumer exp retailsales2010 $141,692,321 $206,018,9982012 $115,448,677 $252,098,2832016 $157,827,482 $182,554,370

$0

$20,000

$40,000

$60,000

$80,000

$100,000

$120,000

2011 2012 2013 2014 2015 2016CalendarYearEnd

AverageListPrices

AverageSalesPrices

95%

96%

97%

98%

99%

100%

101%

102%

103%

104%

105%

2011 2012 2013 2014 2015 2016CalendarYearEnd

AverageSalestoListPriceRa?os

0

30

60

90

120

150

180

210

2011 2012 2013 2014 2015 2016CalendarYearEnd

DaysonMarket

$0.00

$10.00

$20.00

$30.00

$40.00

$50.00

$60.00

$70.00

2011 2012 2013 2014 2015 2016CalendarYearEnd

AverageSalesPricePerFoot

$50,000,000

$100,000,000

$150,000,000

$200,000,000

$250,000,000

$300,000,000

2010 2012 2016

RetailSales ConsumerExpenditures

*Thisinforma-onhasbeengatheredfromtheConsumerExpenditureSurveyandtheCensusofRetailTrade.BothofthesesourceshavebeenmadeavailablebytheUSBureauofLaborandSta-s-csandwereprovidedbyNielsenRMP.

OpportunitySurplus

DOWNTOWN RETAIL MARKET

HIGHLIGHTS• The availability to expand the retail market in downtown Siloam Springs is still reporting a surplus despite a decreased Opportunity Surplus calculation, which hit 75% lower from 2013. Opportunity Surplus remains positive at $24.73 million with an growing supply of new consumers.

• The estimated demand for retail has increased from $33.83 million in 2012, $36.73 million in 2013 to over $157 million in 2016, which reflects a 329% increase in consumer expenditures.

• Retail space available for lease is 100% occupied and increased from 176,000 SF to over 240,000 SF in 2015 reflecting downtown Siloam Springs continued growth in programming and quality experiences.

2 Gals’ Junk Antiques & CollectiblesAbility TreeAsh & EmberThe Balloon ClosetBatheBroadway BarberCari’s ClosetCity Barber ShopCreative Corner on BroadwayEhrlich MotorwerksFormal EveningsFrench HenHeart of the HomeHeather Hill ClothingHoneysuckleJoni’s on BroadwayLendawg’s Junk & TreasuresLokalen Frame ShopThe Luxxe LoftMain Street StudiosOccasionsPositive Touch WellnessSager Creek QuiltsSalon SynergySavvy SalonSiloam Flowers & GiftsSiloam Springs MuseumSnaps Straps & BlingTC Screen PrintingThreads Alterations & ResaleWellSpring Nutrition

Downtown Retail EstablishmentsRetail Sales (SUPPLY)The amount of actual retail sales attributed to consumers who spent money WITHIN the downtown Siloam Springs study area.($ Millions) 2013 2016 Increase 138.84 182.55 43.71 (31.5%)

Consumer Expenditures (DEMAND)The amount of actual retail sales of ONLY residents within the downtown Siloam Springs study area. 2013 2016 Increase 36.73 157.83 121.10 (329.7%)

Opportunity Surplus The difference between Retail Sales and Consumer Expenditures reflects essentially sales from consumers living outside of downtown Siloam Springs study area. This Surplus reflects an opportunity for more retail shops to satisfy the surplus supply of consumers. 2013 2016 Decrease 102.11 24.73 77.38 (75.88%)

Notes:*This information has been gathered from the Consumer Expenditure Survey and the Census of Retail Trade. Both of these sources have been made available by the US Bureau of Labor and Statistics and were provided by Nielsen RMP.

**The retail sales increase in 2013 is a YTD number and is based on information obtained through August 2013 (approx.. 8 months). If these increases were projected on an annual basis, the increase or growth would even be greater than stated above in (growth rate%).

Figure 3

Downtown Siloam Springs Retail Market

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10 SILOAM SPRINGS DOWNTOWN DASHBOARD mainstreetsiloam.org

0

50,000

100,000

150,000

200,000

250,000

300,000

350,000

400,000

20122013

20142015

TotalSF

CalendarYearEnd

Industrial

Retail

Office

0%

2%

4%

6%

8%

10%

12%

14%

16%

18%

20%

2011 2012 2013 2014 2015 2016

SiloamMainStreetDistrict

NorthwestArkansas

CityofSiloamSprings

• Renovation projects have included:

The Perry Building - a 6000 square ft. upper floor office rehabiltitation that is now home to OnIT & SOLVE (software and IT problem solvers), McReynolds Plumbing, and an artist studio on Broadway Street.

Simmons Pet Food Corporate Office - 11,000 square foot renovated office building on East Main Street.

• Siloam Springs has only 2% of the overall Northwest Arkansas’s office market of 12,477,000 square feet; however the demand for space appears high. The vacancy rate is essentially 0.0% across all major real estate space types including office downtown while the overall City of Siloam Springs is above 10% vacancy. This low vacancy downtown reflects a great opportunity for new \construction, renovations, and repurposing of properties in downtown Siloam Springs.

• In the City of Siloam Springs, the lease rates appear to range between $8 and $14 for the Class. Both retail and office tenants are well diversified. with the large majority of square footage being occupied by specialty boutiques, restaurants, and service businesses, as well as upper floor residential tentants. The large office tenants of the City of Siloam Springs on the north boundary, Simmons Pet Food and Sager Creek Vegetable Company on the east boundary bring a constant walking traffic to the retail and restaurants downtown.

• Proposed buildings and investments in downtown include:

The Williams Building / former Morris Hotel - 15,000 sq foot total building rehabilitation, including apartments, retail and office space on Broadway Street

Another five historic buildings - 30,000 square feet of downtown property - is currently in the planning and construction phase. The final projects will include six beautifully restored historic storefronts for retail or restaurants, as well as additional residential lofts and apartments.

BellaVista129,924SF

1%

Bentonville4,050,053SF

32%

FayeOeville3,354,912SF

27%Lowell,

352,742SF3%

Rogers2,893,689SF

23%

SiloamSprings195,261SF

2% Springdale1,500,354SF

12%

BellaVista

Bentonville

FayeOeville

Lowell

Rogers

SiloamSprings

Springdale

12,476,935TotalSquareFeet

OutsideDistrict36%

MainStreetDistrict

[PERCENTAGE]

OutsideDistrict

MainStreetDistrict

195,261TotalSquareFeet

BellaVista129,924SF

1%

Bentonville4,050,053SF

32%

FayeOeville3,354,912SF

27%Lowell,

352,742SF3%

Rogers2,893,689SF

23%

SiloamSprings195,261SF

2% Springdale1,500,354SF

12%

BellaVista

Bentonville

FayeOeville

Lowell

Rogers

SiloamSprings

Springdale

12,476,935TotalSquareFeet

OutsideDistrict36%

MainStreetDistrict

[PERCENTAGE]

OutsideDistrict

MainStreetDistrict

195,261TotalSquareFeet

DOWNTOWN OFFICE MARKET

Source: Q4 2015 Skyline Report

Source: Q4 2015 Skyline Report Figure 4 Figure 6

Source: Q4 2015 Skyline Report Figure 5

Figure 7

Office Space - Northwest Arkansas

Office Space - City of Siloam Springs

Downtown Siloam Springs - Commercial Market

HIGHLIGHTS

D O W N T O W N S I L O A M S P R I N G S A V E R A G E L E A S E R A T E S

PROPERTY TYPE

OFFICE

MEDICAL

OFFICE RETAIL

RETAIL/WAREHOUSE

WAREHOUSE

AVERAGE LEASE RATE

$12.27 - $13.70

$15.11 - $16.31

$8.99 - $9.58

$4.90 - $6.74

$3.64 - $3.84

CLASS A

N/A

N/A

$12.00 - $16.00

N/A

N/A

CLASS B

$7.64 - $9.92

N/A

$9.57 - $10.70

$11.13 - $11.53

N/A

CLASS C

$6.42 - $8.28

N/A

$4.49 - $7.09

$5.91 - $6.78

N/A

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11 SILOAM SPRINGS DOWNTOWN DASHBOARD mainstreetsiloam.org

DOWNTOWN RESIDENTIAL MARKET

• The retail sales increase in 2013 is a YTD number and is based on information obtained through August 2013 (approx.. 8 months). If these increases were projected on an annual basis, the increase or growth would even be greater than stated above in (growth rate%).

• Construction permits in the entire City of Siloam Springs in 2014 hit an average of $133,000 in value, which is almost double the overall City’s average permit value in 2000 of $69,000.

• Another strong indicator of the downtown residential market is the sales price to list price ratio. In 2015, the median ratio was 98.5% and average of 96.54% indicating homes selling for close to their list price. This high ratio is strong despite the increase in average home prices reflecting consumer’s interest in buying despite rises in values.

• Of the 48 total properties sold in 2015 (compared to only 21 sold in 2012) the average home SF in 2015 was 1,531 (3 bed/2bath) compared to average home SF of 1,727 in 2012 and 128 days on the market for 2015 compared to 189 days on the market.

D O W N T O W N S I L O A M S P R I N G S R E S I D E N T I A L S T A T I S T I C S

$101,234

$98,129

$63.87

96.00%

128

AVERAGE LIST PRICE

AVERAGE SALES PRICE

AVERAGE SALE PRICE PER SF

AVERAGE SP/LP RATIO

AVERAGE DAYS ON MARKET48 Total Properties

HIGH

LOW

AVERAGE

MEDIAN

BEDROOMS

5

2

3

3

FULL BATHS

3

1

2

2

LIST PRICE

$229,900

$39,900

$101,234

$88,000

LIST PRICE/SF

$104.88

$19.94

$65.92

$67.01

SALES PRICE/SF

$99.91

$17.93

$63.87

$63.09

SALES PRICE

$219,000

$34,000

$98,129

$86,500

SQUAREFOOTAGE

3,174

896

1,531

1,358

SALES PRICE/LISTPRICE RATIO

114.00%

76.00%

96.00%

98.00%

DAYS ON MARKET

824

0

128

89

2012 KEY INDICATORS

$88.458

$86.231

$45.85

96.54%

178

AVERAGE LIST PRICE

AVERAGE SALES PRICE

AVERAGE SALE PRICE PER SF

AVERAGE SP/LP RATIO

AVERAGE DAYS ON MARKET21 Total Properties

HIGH

LOW

AVERAGE

MEDIAN

BEDROOMS

5

1

3

3

FULL BATHS

3

1

2

2

LIST PRICE

$266,000

$19,900

$88,458

$69,900

LIST PRICE/SF

$80.90

$19.65

$50.63

$55.09

SALES PRICE/SF

$70.71

$18.66

$45.85

$53.82

SALES PRICE

$266,000

$18,000

$86,321

$69,300

SQUAREFOOTAGE

3,913

864

1,727

1,478

SALES PRICE/LISTPRICE RATIO

104.50%

84.40%

96.54%

98.50%

DAYS ON MARKET

525

21

178

133

2012 KEY INDICATORS

2012

Figure 8

HIGHLIGHTS

2015

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12 SILOAM SPRINGS DOWNTOWN DASHBOARD mainstreetsiloam.org

Downtown Siloam Springs - Ratios (Residential)

Figure 10

Downtown Siloam Springs - Days on Market (Residential)

Downtown Siloam Springs - Price per Foot (Residential)

Figure 11

Downtown Siloam Springs - Prices (Residential)

Figure 9

Figure 12

DOWNTOWN RESIDENTIAL MARKET

consumer exp retailsales2010 $141,692,321 $206,018,9982012 $115,448,677 $252,098,2832016 $157,827,482 $182,554,370

$0

$20,000

$40,000

$60,000

$80,000

$100,000

$120,000

2011 2012 2013 2014 2015 2016CalendarYearEnd

AverageListPrices

AverageSalesPrices

95%

96%

97%

98%

99%

100%

101%

102%

103%

104%

105%

2011 2012 2013 2014 2015 2016CalendarYearEnd

AverageSalestoListPriceRa?os

0

30

60

90

120

150

180

210

2011 2012 2013 2014 2015 2016CalendarYearEnd

DaysonMarket

$0.00

$10.00

$20.00

$30.00

$40.00

$50.00

$60.00

$70.00

2011 2012 2013 2014 2015 2016CalendarYearEnd

AverageSalesPricePerFoot

$50,000,000

$100,000,000

$150,000,000

$200,000,000

$250,000,000

$300,000,000

2010 2012 2016

RetailSales ConsumerExpenditures

*Thisinforma-onhasbeengatheredfromtheConsumerExpenditureSurveyandtheCensusofRetailTrade.BothofthesesourceshavebeenmadeavailablebytheUSBureauofLaborandSta-s-csandwereprovidedbyNielsenRMP.

OpportunitySurplus

consumer exp retailsales2010 $141,692,321 $206,018,9982012 $115,448,677 $252,098,2832016 $157,827,482 $182,554,370

$0

$20,000

$40,000

$60,000

$80,000

$100,000

$120,000

2011 2012 2013 2014 2015 2016CalendarYearEnd

AverageListPrices

AverageSalesPrices

95%

96%

97%

98%

99%

100%

101%

102%

103%

104%

105%

2011 2012 2013 2014 2015 2016CalendarYearEnd

AverageSalestoListPriceRa?os

0

30

60

90

120

150

180

210

2011 2012 2013 2014 2015 2016CalendarYearEnd

DaysonMarket

$0.00

$10.00

$20.00

$30.00

$40.00

$50.00

$60.00

$70.00

2011 2012 2013 2014 2015 2016CalendarYearEnd

AverageSalesPricePerFoot

$50,000,000

$100,000,000

$150,000,000

$200,000,000

$250,000,000

$300,000,000

2010 2012 2016

RetailSales ConsumerExpenditures

*Thisinforma-onhasbeengatheredfromtheConsumerExpenditureSurveyandtheCensusofRetailTrade.BothofthesesourceshavebeenmadeavailablebytheUSBureauofLaborandSta-s-csandwereprovidedbyNielsenRMP.

OpportunitySurplus

consumer exp retailsales2010 $141,692,321 $206,018,9982012 $115,448,677 $252,098,2832016 $157,827,482 $182,554,370

$0

$20,000

$40,000

$60,000

$80,000

$100,000

$120,000

2011 2012 2013 2014 2015 2016CalendarYearEnd

AverageListPrices

AverageSalesPrices

95%

96%

97%

98%

99%

100%

101%

102%

103%

104%

105%

2011 2012 2013 2014 2015 2016CalendarYearEnd

AverageSalestoListPriceRa?os

0

30

60

90

120

150

180

210

2011 2012 2013 2014 2015 2016CalendarYearEnd

DaysonMarket

$0.00

$10.00

$20.00

$30.00

$40.00

$50.00

$60.00

$70.00

2011 2012 2013 2014 2015 2016CalendarYearEnd

AverageSalesPricePerFoot

$50,000,000

$100,000,000

$150,000,000

$200,000,000

$250,000,000

$300,000,000

2010 2012 2016

RetailSales ConsumerExpenditures

*Thisinforma-onhasbeengatheredfromtheConsumerExpenditureSurveyandtheCensusofRetailTrade.BothofthesesourceshavebeenmadeavailablebytheUSBureauofLaborandSta-s-csandwereprovidedbyNielsenRMP.

OpportunitySurplus

consumer exp retailsales2010 $141,692,321 $206,018,9982012 $115,448,677 $252,098,2832016 $157,827,482 $182,554,370

$0

$20,000

$40,000

$60,000

$80,000

$100,000

$120,000

2011 2012 2013 2014 2015 2016CalendarYearEnd

AverageListPrices

AverageSalesPrices

95%

96%

97%

98%

99%

100%

101%

102%

103%

104%

105%

2011 2012 2013 2014 2015 2016CalendarYearEnd

AverageSalestoListPriceRa?os

0

30

60

90

120

150

180

210

2011 2012 2013 2014 2015 2016CalendarYearEnd

DaysonMarket

$0.00

$10.00

$20.00

$30.00

$40.00

$50.00

$60.00

$70.00

2011 2012 2013 2014 2015 2016CalendarYearEnd

AverageSalesPricePerFoot

$50,000,000

$100,000,000

$150,000,000

$200,000,000

$250,000,000

$300,000,000

2010 2012 2016

RetailSales ConsumerExpenditures

*Thisinforma-onhasbeengatheredfromtheConsumerExpenditureSurveyandtheCensusofRetailTrade.BothofthesesourceshavebeenmadeavailablebytheUSBureauofLaborandSta-s-csandwereprovidedbyNielsenRMP.

OpportunitySurplus

Page 13: ART RETAIL DOWNTOWN DASHBOARD - Main Street Siloam Springs€¦ · Welcome to the Downtown Dashboard. Here you will find an economic snapshot – a picture of downtown Siloam Springs

13 SILOAM SPRINGS DOWNTOWN DASHBOARD mainstreetsiloam.org

Downtown Siloam Springs Dining28 Springs RestaurantCafe on BroadwayCreekside TaproomFratelli’s Wood Fired PizzeriaPour Jon’s Coffee & VinylInn at the Springs’ Sweetwater Tavern

Opening 2017:Pure Joy Ice Cream Scoop ShopZiggywurst Restaurant

The Siloam Springs Farmers Market, which meets in City Park downtown, has experienced its own renaissance. The weekly Saturday market runs from April through October and has become a food supplier to local restaurants. Over the last six years, the market’s total commerce has quadrupled and now boasts a diverse array of local produce, meat, specialty items and crafts. Weekly special events and live music bring new visitors each market day.

CULINARY & RESTAURANTS

Page 14: ART RETAIL DOWNTOWN DASHBOARD - Main Street Siloam Springs€¦ · Welcome to the Downtown Dashboard. Here you will find an economic snapshot – a picture of downtown Siloam Springs

14 SILOAM SPRINGS DOWNTOWN DASHBOARD mainstreetsiloam.org

Main StreetI N C.

E S T. 1 8 8 0

S I L O A MS P R I N G S

MAIN STREET SILOAM SPRINGS, INC.479.524.4556 mainstreetsiloam.org

Facebook: MainStreetSiloamSprings

Twitter: mainstsiloam

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