New Life to Old Developments

Practitioners’ Perspectives IEDC Annual Conference September 28, 2010 Moderator - Charlene Coulombe-Fiore, CEcD, EDFP

Agenda Brett Doney - Great Falls Development (public

sector) Sean Garretson – The Retail Coach (market

analyst/planner) Kristen Fish – Redevelopment Resources

(developer/implementer) Q&A

The Public Sector Role and ED Perspective

Brett Doney - Great Falls Development

The Planner’s Role and Perspective

Sean Garretson, AICP – The Retail Coach

The Retail Coach, LLC, is a national retail analytics and locational intelligence firm that combines strategy, technology and creative expertise to develop and deliver high-impact retail recruitment and development strategies.

25 years in retail real estateWorked in more than 125 communities in 32 statesMarket assessment & corporate site selection experience with national retailersRetail real estate brokerage firm specializing in market analyses & retailer site identificationRetail leasing & development/redevelopmentLand development with investment firm Retail professionals in the consulting business – not consultants in the retail businessPractical revitalization planning and development

We not only develop retail recruitment and development strategies for clients, we execute them and coach clients to achieve results.

About The Retail Coach

Workers are more mobileJobs are following the talentTalent is attracted to Quality of Place

Three out of Four Americans under age 28 first pick a place to live and then find a job.SOURCE: Next Generation Consulting survey

They want to live in a COOL community.

COOL is defined by them.

The New Economic Development

Store closings, slowed expansions, bankruptcies and liquidations have dominated headlines.

The Good News … Retailers are Expanding

We have located—or are currently working with:

Target Dollar General Save-A-Lot Grocery Lowe’s Home Depot McDonald’s Zaxby’s Hibbett Sports ALCO Stores Kohl’s

Discount Retailers, Dollar Stores & Drug Stores dominate retail growth sectors.

Community Development Precedes Economic Development

Would you invest $2M next to this?

Smaller communities must workharder to get retailers’ attention

Do not abandon downtown Maintain strong residential support

around downtown Have a downtown redevelopment

strategy Downtowns have become

entrepreneur- driven Entrepreneurism increases during

economic downturns

Focus on Your Downtown

Job growth is essential for a thriving downtownSuccessful community economic development is KEY!Create destinations and fostertourismImprove the overall downtownexperienceDowntown revitalization is largely about making dealsPublicly-supported IBIZ Districts work (independently-owned business improvement districts)

Downtown businesses must operate as a business and not a hobby.

Focus on Your Downtown

Urban Renewal Plan created in late 1990sTri-Party Agreement (CoA, Urban Renewal Agency, Austin Revitalization Authority)(2) 1-mile corridors (11th/12th Streets)General Revenue and HUD fundsSuccessful, yet…(depending on who you ask)…

Choose partnership(s) closely, and hold accountable

Austin, TX

Public Spaces don’t just happenEconomic Impact of Bike Lanes

City role in shaping/programming public environment.

Public Spaces

Discovery Green - Houston, Texas

What is the basis of the economy?Is there a university? Entrepreneurial community?Are your incentives geared towards placing office users in revitalization zone?Role of the non-profit.Catalyst Projects

Build on your assets

Should you really try to CREATE the market?

Downtown Master PlanTeam just completed Texas State University Master PlanTexas State growth – now at 32,000County seat, great early 1900 bldg architecture, block structurePotential for commuter rail (Austin-San Antonio rail)Private sector role (identify market opportunities)Public sector role (leverage land and building assets, study/fund infrastructure needs)

Build upon your market and assets

San Marcos, TX

How should you best leverage your assets (land, utilities, money)?

Should you use a RFP vs RFQ process?

Should you encourage an Attainable Housing component?

How effective are Public Utility Districts versus TIFs/TIRZs?

Lastly…if you know the Development Review Process should be faster in your revitalization zones then why is it taking as long / longer there??

Questions to Consider…

Thank you!

Sean Garretson, AICP512/300-7270

sgarretson@theretailcoach.net

www.theretailcoach.net

The Developer’s Role and Perspective

Kristen Fish – Redevelopment Resources

About Redevelopment Resources

Redevelopment Resources provides development and redevelopment solutions to municipalities, businesses and organizations which enhance the vitality of the community and improve the local economy. Focus on implementation Over 145 years of collective experience Commercial Real Estate Economic Development Planning Retail Support Community Development Finance/Incentives/Deal Structure

Important Elements

Site control Implementation Team

Owners City/County/public funding source Prospective tenants Private sector stakeholders Legal/AE/Environmental

Political Issues

Timing Environment Who is REALLY going to do the

project Knowledge Experience Leadership

The Site

Land/Property Assembly Control of the site is very important

Ownership Friendly condemnation Assist with relocation

Local Law Zoning Local ordinances

Former Movie Theater

Live music venue (bar/restaurant)

Façade renovation loan Commercial rehab loan

(CDBG)

Design control

Former blighted block New office complex City acquired ½ block New ramp with retail on main

level Planned condos on top

Former Private Club Private investors

OwnersCommunity partners

City Participation Commercial rehab CDBG for job creation

Former department store Office Proposed theater Proposed bowling alley Proposed retail “mall” Temporary offices

Former retail “mall”

Retail Extension of

hotel banquet Expansion of

hotel guest rooms

Residential condos

Palladian project connected to hotel/ramp

Creative use of vacant retail Try it on, sample Shorter term leases Go after what you really

want

Thank you!

Kristen FishRedevelopment Resources

kfish@redevelopment-resources.comwww.redevelopment-resources.com

Questions & Answers