Catalyzing Business Investment in Inner City Neighborhoods
June 2007
Cincinnati Neighborhood Market DrillDown
2
Social Compact Catalyzing Business Investment in Inner City Neighborhoods
Copyright © The Social Compact, Inc. 2007
Cincinnati DrillDown
About Social Compact Social Compact is a national not-for-profit corporation led by a board of business leaders whose mission is to help strengthen neighborhoods by stimulating private market investment in underserved communities. Social Compact accomplishes this through its Neighborhood Market DrillDown analytic tool, developed to accurately measure community economic indicators provides this information as a resource to community organizations, government decision makers and the private sector. Social Compact is at the forefront of identifying the market potential of underserved neighborhoods and believes that a public pri-vate partnership that involves community members and leverages private investment is the most sustainable form of community economic development.
Dear Colleague: On behalf of Social Compact’s Board of Directors, I am pleased to continue Social Compact’s mission to catalyze business in-vestment in America’s underserved communities with the release of the Cincinnati DrillDown. DrillDown profiles, drawing on business disciplines and community strengths, have a strong track record of stimulating sustain-able, private investment, benefiting communities and businesses alike. The Cincinnati DrillDown is no exception. Focusing on core market drivers that resonate across industry lines, the DrillDown found substantial cause for optimism and investment in Cincinnati. Additionally, the partnerships established over the course of the DrillDown give these findings solid grounding and point toward the positive outcomes that can be achieved through innovative approaches to building community strength. I look forward to seeing these DrillDown findings leveraged for additional private investment and continued successes in the City of Cincinnati’s vibrant neighborhoods. Sincerely, Joe Reppert Chairman, Social Compact Vice Chairman, First American Real Estate Services Information, Inc
Board of Directors Joseph Reppert, Chairman, Vice Chairman, First American Real Estate Information Services, Inc. David H. Katkov, Vice Chairman, Executive Vice President, The PMI Group, Inc. President and Chief Operating Officer, PMI Mortgage Insurance Co. Mary Lee Widener, Immediate Past Chairperson; President and CEO, Neighborhood Housing Services of America Clayton Adams, Vice President, Community Development, State Farm Fire & Casualty Company Joe Belew, President, Consumer Bankers Association Rebecca A. Craft, Director, Energy Efficiency Programs, Consolidated Edison Company of New York, Inc. Lisa Glover, Senior Vice President; Director, Community Development and Fair Lending, US Bank Ron Guggenheimer, Director, Fixed Income, Citi Markets & Banking W. Roger Haughton, Immediate Past Chairman, The PMI Group, Inc. JoAnn Kane, Vice President and Chief Operating Officer, Faithworks, Inc. Michael R. McGuire, President and CEO, Affinity Bank Robert A. McNeely, Executive Vice President, Union Bank of California; Chairman and CEO, Union Bank of California Foundation Bruce D. Murphy, Executive Vice President, KeyBank National Association; President, Community Development Banking, KeyCorp Ed Owens III, Senior Vice President and Director of Community Affairs, Fifth Third Bank Jeff Rosen, Executive Vice President, Business Banking Group Manager, Huntington Bank Dean Schultz, President and CEO, Federal Home Loan Bank of San Francisco Brian Stolarz, Associate, K&L | Gates John B. Talmage, President and CEO, Social Compact
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Social Compact Catalyzing Business Investment in Inner City Neighborhoods
Copyright © The Social Compact, Inc. 2007
Cincinnati DrillDown
Foreword In fulfilling Social Compact's commitment to underserved markets, I am proud to present the findings of the Cincinnati Drill-Down. Following on the successful challenge by the City of Cincinnati to census estimates in 2006, the Cincinnati DrillDown findings build upon Mayor Mallory's efforts to highlight the myriad opportunities that exist in Cincinnati. Mayor Mallory exemplifies a new generation of mayors attempting to better leverage public and private investment in their cities through improved infor-mation, and we at Social Compact are pleased to have had the opportunity to work with him and the City of Cincinnati. Social Compact looks forward to working together with the City and the other stakeholder organizations who have contrib-uted to the success of the Cincinnati DrillDown to facilitate a paradigm shift with regard to how information can better serve communities. Cincinnati is a demonstration in information-led development. It is the hope that the findings provided herein serve as another source of information for the City of Cincinnati, and other business and community leaders, in their decisions to implement sustainable economic development projects in Cincinnati communities. Sincerely, John Talmage President and CEO Social Compact
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Social Compact Catalyzing Business Investment in Inner City Neighborhoods
Copyright © The Social Compact, Inc. 2007
Cincinnati DrillDown
Acknowledgements
The Cincinnati DrillDown would not be possible but for the generous contributions of time, treasury, and talent of a broad and exceptional team committed to the City of Cincinnati and its many, diverse communities.
Social Compact gratefully acknowledges the crucial support of Mayor Mark Mallory and his office, and Ryan Adcock in par-ticular, for facilitating the Cincinnati DrillDown project, providing access to key municipal data, and contributing invaluable insights along the way.
Social Compact would like to specially recognize Fifth Third Bank, the lead sponsor of the Cincinnati DrillDown, whose gener-ous financial support made this work possible. Sincere appreciation also to the following key sponsors: USBank; KeyBank; Huntington Bank; PNC Bank; GO Cincinnati; Duke Energy; and United Way of Greater Cincinnati. Thanks are also due to First American Real Estate Information Services Inc., SAS Institute Inc., and ESRI for their generous contributions of data, soft-ware, and expertise.
Additionally, Social Compact would like to thank the following municipal, county and regional offices for providing the neces-sary data and local insight: Cincinnati Metropolitan Housing Authority, Cincinnati Planning Commission, Cincinnati Public Schools, Cincinnati USA Regional Chamber, City of Cincinnati Department of Community Development and Planning, City of Cincinnati Department of Finance, City of Cincinnati Income Tax Bureau, City of Cincinnati Department of Motor Vehicles, City of Cincinnati Economic Development Division, City of Cincinnati Office of Buildings and Inspection, City of Cincinnati Police Department, City of Cincinnati WaterWorks, Hamilton County Auditor, Southwest Ohio Regional Transit Authority. Also, Social Compact would like to thank the Institute for Policy Research at the University of Cincinnati for the contributions of their guid-ance and local market knowledge.
Special thanks are in order for Property Advisors, Social Compact's principal partner in the Cincinnati DrillDown project. Property Advisors, through the efforts of J. Scott Golan and Candace Klein, acted as the catalyst for the Cincinnati DrillDown, managed all phases of the study with skill and determination and proved instrumental to the project's success.
Finally, this work would not have been possible without the continued leadership and support of Social Compact's dedicated Board of Directors.
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Social Compact Catalyzing Business Investment in Inner City Neighborhoods
Copyright © The Social Compact, Inc. 2007
Cincinnati DrillDown
Background In recent years, inner-city neighborhoods have come to represent billions of dollars in untapped buying power and retail leakage. The ethnic and cultural diversity of urban residents represent myriad opportunities for local entrepreneurs, niche markets and new markets for financial services, corporate retailers and other commercial investors. Despite this opportunity barriers to private investment in underserved neighborhoods persist. As a result, urban residents lack access to basic goods and services at competitive prices, and retailers and developers are unable to capitalize on the fundamental assets of inner-city, urban communities. Underserved urban neighborhoods are often negatively stereotyped and defined by deficiencies rather than strengths. The reason for this is manifold. First, deficiency-based depictions are necessitated by funding and policy regulations that require a neighborhood to demonstrate need for federal subsidies and social service programs. While these depictions attest to social need, they do little to highlight neighborhood strengths and economic opportunity. Second, excessive media coverage of undesirable characteristics such as crime, poverty, and blight perpetuate negative perceptions of these inner-city neighborhoods. Finally, lack of dependable business-oriented data on underserved communities expands the information gap on market trends, disabling potential investors from making informed decisions. Combined, these factors contribute to a cycle of missed opportunities in underserved urban markets. THE DRILLDOWN: BRIDGING THE INFORMATION GAP Beginning with the premise that a significant reason for inner-city disinvestment is lack of good market information, Social Compact developed the Neighborhood Market DrillDown to address key barriers to private investment in and around inner-city neighborhoods. Social Compact offers its neighborhood market analyses to local governments, community organizations and businesses looking to attract investment or to invest in inner cities. These analyses provide alternative assessments of population, income and housing that do not rely on outdated and potentially inaccurate decennial census data. The DrillDown was established to provide up-to-date profiles of market strength, stability and opportunity for small, dense, and rapidly changing urban geographies. The DrillDown builds on current, finely sieved market information drawn from a wide spectrum of commercial, proprietary and local government sources (e.g. tax assessor, building permit, commercial credit companies and realtors). Rather than relying on any one information set, the DrillDown findings surface from a combined body of data. These findings, tested against supplemental data and the intuitive knowledge of local market leaders, serve as the foundation for an objective, systematic analysis of business attributes. Based on this data, Social Compact has developed the following indicators of market size, strength and stability.
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Social Compact Catalyzing Business Investment in Inner City Neighborhoods
Copyright © The Social Compact, Inc. 2007
Cincinnati DrillDown
DrillDown Overview Working in close partnership with Mayor Mallory and Prop-erty Advisors, a Cincinnati based commercial real estate con-sulting firm, Social Compact applied its DrillDown analysis to the entire city of Cincinnati in order to develop a city-wide baseline of economic indicators and to leverage DrillDown results to inform economic development. In addition, the DrillDown provided detailed business-oriented profiles of market strengths and opportunities in twenty seven of the City's lower-income neighborhoods. These include neighborhoods where the average household income, as reported by the 2000 Census, fell below the city-wide average. Included in this report are highlights from the DrillDown analysis for the following study area neighborhoods:
Cincinnati, Ohio DrillDown Study Area Neighborhoods
1. Avondale 2. Bondhill 3. CBD 4. CUF 5. Camp Washington 6. Carthage 7. Corryville 8. East Price Hill 9. Evanston 10. Fay Apartments 11. Linwood 12. Lower Price Hill 13. Madisonville 14. Mount Auburn
15. North Fairmount/South Fairmount/English Woods 16. Northside 17. Over the Rhine 18. Riverside 19. Roselawn 20. Sedamsville 21. South Cumminsville / Millvale 22. Spring Grove Village 23. Walnut Hills 24. West End 25. West Price Hill 26. Westwood / East Westwood 27. Winton Hills
27571
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12th
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Burlington
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Cleves Warsaw
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Main
Bend
Main
Delta
0 52.5 Miles
Legend
Study Area
9
11
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15
14
19
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16
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7
Social Compact Catalyzing Business Investment in Inner City Neighborhoods
Copyright © The Social Compact, Inc. 2007
Cincinnati DrillDown City of Cincinnati — Citywide DrillDown Highlights...
Larger Market • The DrillDown estimates the City’s total population at 378,259, an increase of 22%, or 69,000 people, from 2006 census trend projection estimates and a 14% increase,
roughly 46,000 people, from the Census 2000 population count.
• The DrillDown analysis reports higher population density in the City, estimating 7.4 persons per acre, compared to the 2006 census trend projection estimate of 6.1 and the Census 2000 estimate of 6.5 persons per acre.
Greater buying power • Average household income in the City was estimated at $54,083, a 22% increase from the Census 2000 income estimate and 7% above 2006 trend projections.
• The DrillDown’s median household income estimate of $39,893 exceeded the number reported by Census 2000 by 30% and 2006 trend projections by 9%.
• The DrillDown estimates that $2.2 billion in aggregate buying power is missed by traditional estimates. Overall, the aggregate household income of $9.2 billion, an income density of $181,000 per acre, 31% higher than 2006 census trend projections.
Safer streets • The DrillDown analysis revealed significant drops in crime throughout the City of Cincinnati. Both property and violent crime dropped by 7% between 2002 and 2006.
• Furthermore, community crime in the City decreased by 14% for the same time period. The community crime indicator, which includes reported incidents of blighted proper-ties, disorderly conduct, littering, loitering, prostitution, trespassing and vandalism, is designed to assess highly visible incidents of crime that, although not typically included in many official crime statistics may be of particular interest to the business community.
Increased market stability • Nearly 72% of residential buildings in Cincinnati are owner occupied. By measuring owner occupancy at the building level, the DrillDown reveals a greater presence of
homeowners in neighborhoods when compared to Census 2000, which measured owner occupancy by residential unit to be 39%.
• The value of single family homes has increased by 42%, from a median value of $98,674 as reported by Census 2000 to $140,499, according to 2007 DrillDown estimates.
• The DrillDown documented the completed construction of 7,450 new residential units in the City of Cincinnati between 2002 and 2006. This translates to a rate of 50 new units for every 1,000 households.
Market Opportunity • The DrillDown estimates that 28% of Cincinnati households are underbanked (lacking existing credit histories with any of the three major credit bureaus). This number repre-
sents opportunity for the expansion of banking and other financial services to City residents.
• Furthermore, the DrillDown estimates retail leakage in excess of $190 million. More specifically, the DrillDown documented $122 million in unmet demand for apparel retail-ers, and $29 million in unmet demand for restaurants.
Note: For the purposes of this study, the City of Cincinnati is defined by 302 census block groups (comprising 79 square miles) matching the City boundaries as closely as possible. However, because the true boundaries of Cincinnati are determined at the block-level, there is a slight discrepancy between the Census 2000 population estimate used in the DrillDown analysis and the actual figure reported by the U.S. Census Bureau (331,285).
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Social Compact Catalyzing Business Investment in Inner City Neighborhoods
Copyright © The Social Compact, Inc. 2007
Cincinnati DrillDown
* Census trend projections are modeled market projections derived from census findings that are annually revised based upon historic measures of macro-market performance.
Key Observations — Study Area Neighborhoods…
Cincinnati neighborhoods are larger markets than previously understood:
• The largest population difference among study area neighborhoods occurred in Spring Grove Village, Carthage, West Price Hill, Roselawn, Camp Washington, Westwood/East Westwood, Northside, Linwood, Madisonville and East Price Hill; where the DrillDown found over 25% more people than 2006 Census Trend Projections. Large discrep-ancies were also found in Bondhill, the CBD and Evanston where the DrillDown estimates over 10% more people than 2006 Census trend Projections.
• Additionally, study area neighborhoods are higher density markets when compared to the city. Population density in West Price Hill is more than double the city average of 7.4 residents per acre. Additionally, Over the Rhine, CUF, Mount Auburn, Evanston, East Price Hill and Westwood/East Westwood all have more than 10 residents per acre.
Higher incomes signal greater buying power in study area neighborhoods:
• The DrillDown estimated median household income across study area neighborhoods at $27,543, 12% higher than reported by Census 2000. While the study area me-dian income was consistent with 2006 Census Trend Projections, there were notable exceptions; the DrillDown median household income was 64% higher in the CBD and over 20% higher in Roselawn, Linwood and Over the Rhine.
• Additionally, while the DrillDown found median income in Cincinnati is currently 30% higher than the Census 2000 figure, several neighborhoods saw even greater dif-ferences. The CBD, Linwood, Roselawn, Lower Price Hill and CUF showed gains in excess of 30%. Notably, the DrillDown estimates that median incomes in Over the Rhine, the CBD and Linwood are over 50% higher than the Census 2000 estimate.
• Across study area neighborhoods, average household income was estimated at $37,146; 15% above Census 2000 numbers and 4% above 2006 Census trend projec-tions. The CBD, Walnut Hills, Linwood and Lower Price Hill showed average incomes over 10% higher than previously understood by 2006 Census trend projections.
• The DrillDown estimates that $550 million in aggregate buying power is missed by traditional estimates. Overall, the aggregate household income is 17% higher than 2006 census trend projections. The DrillDown estimates that the CBD, Linwood, Roselawn, Spring Grove Village, West Price Hill and Westwood/East Westwood are underesti-mated by over 30%.
• As a result of city change and aggregate income missed by the 2000 Census, the DrillDown finds that aggregate income in the City is 41% higher than as measured by the 2000 Census. This difference is even larger in the CBD, Linwood, Spring Grove Village, Roselawn, West Price Hill and Westwood/East Westwood, where gains range from 45% in Westwood/East Westwood to 115% in the CDB.
• Higher population densities translate into concentrated buying power. Six study area neighborhoods boast income densities greater than that of the City as a whole. Income density (or aggregate neighborhood income per acre) exceeded the city average in West Price Hill, the CBD, Westwood/East Westwood, Mount Auburn, Roselawn and CUF. Income density in West Price Hill is over 1.5 times greater than the City.
• The DrillDown estimates the informal economy to be worth over $213 million in these neighborhoods, comprising 6.1% of the total study area economy. The informal economy is estimated to be highest in Corryville, Over the Rhine and Roselawn with informal economies of around 10%.
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Social Compact Catalyzing Business Investment in Inner City Neighborhoods
Copyright © The Social Compact, Inc. 2007
Cincinnati DrillDown
Key Observations — Study Area Neighborhoods… Study area neighborhoods demonstrate safer streets, showing drops in crime that compare favorably with the city as whole:
• Nineteen of the study area neighborhoods experienced a decline in total crime. The CBD, Camp Washington, Corryville, Bondhill, Fay Apartments, West End and Over the Rhine experienced the most dramatic drops in overall crime, down by more than 20% between 2002 and 2006. This compares to a drop of 7% in Cincinnati over the same pe-riod of time.
• Fourteen neighborhoods included in the study area experienced a drop in violent crime greater than the city average. The two largest drops in violent crime occurred in North Fairmount/South Fairmount/English Woods and Over the Rhine, decreasing by 36% and 34%, respectively, while the City’s violent crime rate dropped 7% for the same time period from 2002 to 2006.
• Similarly, property crime in most of the study area neighborhoods dropped significantly. Corryville, the CBD, Fay Apartments, Camp Washington, Bondhill, Winton Hills and West End experienced the greatest drop in property crime, down over 25%.
• All but three neighborhoods saw a decrease in community crime between 2002 and 2006, with the most significant drops occurring in Camp Washington, a decrease of 52%, Corryville, down 47%, and Lower Price Hill and the CBD, both down 39%.
• Many study area neighborhoods demonstrate crime rates far below the city average. Bondhill, Madisonville, West Price Hill, Evanston and Riverside are among those study area neighborhoods with the lowest rate of reported incidents of crime per capita.
Homeownership and residential investment are on the rise in study area neighborhoods, indicating greater market stability:
• Over 66.9% of residential buildings in the study area are owner occupied. By measuring homeownership at the building level, the DrillDown reveals a greater presence of homeowners in study area neighborhoods. This number far exceeds the number reported by Census 2000, which reported owner occupancy by residential unit to be at 33%.
• The value of single family homes has increased substantially in study area neighborhoods, from a median value of $75,000 as reported by Census 2000 to $118,000, according to 2007 DrillDown estimates, a 57% increase from Census 2000 values.
• DrillDown study area neighborhoods exhibit favorable rates of new residential construction. Eight study area neighborhoods exhibit new residential construction rates above the city average, with the CBD, Bondhill, Walnut Hills, Madisonville, West End and Carthage outperforming the city at twice the number of new residential units per household filed between 2002 and 2006.
10
Social Compact Catalyzing Business Investment in Inner City Neighborhoods
Copyright © The Social Compact, Inc. 2007
Cincinnati DrillDown
Key Observations — Study Area Neighborhoods… The DrillDown demonstrates opportunity for expansion of financial services: • In thirteen study area neighborhoods, residents have less access to financial services. Residents of Riverside and Sedamsville travel three times as far to traditional financial
institutions than other city residents, and in Linwood, North Fairmount/South Fairmount/English Woods, and Fay Apartments, residents travel twice as far .
• Non-traditional financial institutions, such as check-cashers and payday lenders, are more numerous in study area neighborhoods. The CBD, Over the Rhine, Corryville, Roselawn, Walnut Hills, Spring Grove Village and Madisonville have more than 5 per 10,000 households, compared to a city-wide ratio of 2.6.
• Twenty-five percent of study area residents and 28% of city residents are underbanked. The percentage of underbanked households, as defined by the lack of a credit bu-reau record, is highest in Spring Grove Village where 42% of households are underbanked.
The DRILLDOWN documented unmet demand for full-service grocery stores:
• Grocery leakage in excess of $10 million was found in each of the following neighborhoods: West Price Hill ($30M), Avondale ($16M), Northside ($14M), Madisonville ($14M), CUF ($14M) and Bondhill ($13M).
• On average, residents in Riverside, Winton Hills and Madisonville live twice as far from a full-service grocer than other city residents. The DrillDown examined 27 low to moderate income neighborhoods in Cincinnati, finding dynamic, diverse communities that have experienced significant population growth beyond what is documented by Census 2000 and census trend projections. Confronting common misperceptions, crime rates in many neighborhoods are far below the city average and continue to fall, indicating safer streets for neighborhood residents and visitors. Finally, unmet market demand, with respect to banking and grocery services, and untapped buying power, demonstrated by sizable retail leakage, represents significant opportunity for business investment that expand access to goods and services to Cincinnati residents.
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Social Compact Catalyzing Business Investment in Inner City Neighborhoods
Copyright © The Social Compact, Inc. 2007
Cincinnati DrillDown MARKET SIZE figures indicate a neighborhood’s population of residential consumers, effectively describing neighborhood mass and density. Market size is commonly underestimated in inner-city neighborhoods because measurements at the neighborhood level are often outdated or inaccurate. Research has shown that the decennial census is susceptible to under-counting particular areas due to incorrect information; unreturned and incomplete surveys; and missed households and individuals. Population undercounts are more likely to occur in low-income, predominantly minority, urban neighborhoods, where a larger proportion of residents may have language barriers, live in overcrowded housing, and have greater mis-trust of government. Accurate measurements of market size underpin assessments of investment and business potential in neighborhoods. To enhance accuracy, Social Compact’s Drill-Down uses data sources compiled on an annual basis to build its profiles.
HOUSING UNITS, POPULATION, HOUSEHOLDS: The DrillDown assembles a list of residential addresses from municipal and proprietary tax assessment records, municipal building permit records, utility hookups, and credit bureau records. Households, or occupied units, are determined by multiplying the total number of residential addresses by the vacancy rate, determined through analysis of utility usage records, at the block group level. Total popu-lation is calculated by multiplying the number of households by the average household size and adding this number to the population in group quarters. Average household size and population in group quarters is provided at the block group level by the most recent census trend projections.
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Fork
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Vine
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mi
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ile
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ton
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Section
Hunt
10
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ly
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ristow
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king
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Industrial
Main
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Am sterdam
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Mall
Banning
Kyles
Buttermilk
State
6th
Pip
pin
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inot
Win
ters
Queen City
Burling to
n
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Indian Hill
Clif
ton
Ross
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River
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Taylor
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GrandinGuerley
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Ste
wa
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BensonGalbraith
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0 52.5 Miles
Legend
Population
per Acre
0 - 5
6 - 10
11 - 15
16 - 25
26 - 60
1 Spring Grove Village 43% 3,339
2 Carthage 40% 3,387
3 West Price Hill 38% 23,901
4 Roselawn 36% 9,668
5 Westwood/E. Westwood 26% 45,520
6 Northside 21% 11,326
7 Linwood 20% 482
8 CBD 20% 3,818
9 Camp Washington 20% 1,803
10 Madisonville 18% 11,334
11 Cincinnati 14% 378,259
12 East Price Hill 11% 19,957
13 Bondhill 9% 10,510
14 Evanston 4% 8,233
15 Winton Hills 3% 5,523
DrillDown Total Population
% Above Census 2000
1 Spring Grove Village 47% 1,381
2 Carthage 44% 1,540
3 West Price Hill 41% 10,306
4 Roselawn 35% 4,606
5 CBD 28% 1,940
6 Westwood/E. Westwood 28% 21,316
7 Camp Washington 26% 635
8 Linwood 23% 212
9 Northside 22% 4,959
10 Madisonville 20% 4,970
11 Cincinnati 15% 170,680
12 East Price Hill 13% 7,918
13 Bondhill 12% 4,663
14 Winton Hills 5% 2,141
15 Evanston 5% 3,209
DrillDown Total Number of Households
% Above Census 2000
1 West Price Hill 15.2
2 Over the Rhine 12.8
3 CUF 12.4
4 Mount Auburn 11.9
5 Evanston 11.4
6 Avondale 11
7 East Price Hill 10.4
8 Westwood/E. Westwood 10.2
9 West End 9.9
10 Northside 9.8
11 Bondhill 9
12 Roselawn 8.8
13 CBD 8.4
14 Fay Apartments 7.9
15 Madisonville 7.6
16 Cincinnati 7.4
Population Density (persons per acre)
Above City Average
12
Social Compact Catalyzing Business Investment in Inner City Neighborhoods
Copyright © The Social Compact, Inc. 2007
Cincinnati DrillDown MARKET STRENGTH/BUYING POWER figures address the population’s consumer potential, gauging purchasing power by estimating aggregate income and income density and ad-justing these figures to account for the estimated monetary value of unregulated economic activity (or the informal economy) within a neighborhood. Income estimates provided by the census, and census derived projections, are now outdated and prone to well-understood inaccuracies resulting from self reported income. In contrast, the DrillDown analysis incor-porates the most recent income estimates from the three major credit bureaus. When aggregated to the neighborhood level, higher average household incomes result in concentrated buying power greater than previously understood. Moreover, higher population density in inner-city neighborhoods translates into concentrated buying power that supersedes their suburban counterparts, even in cases where average household incomes are comparatively lower. Traditional market analysis models used by retailers and financial institutions over-look the significant buying power generated by the local informal economy and therefore misinform private sector investment decisions. Information gaps and poor market data can drastically influence the economic prospects of neighborhoods, particularly in low income areas where traditional demographic data does not accurately capture market potential. Accurate measurements of a community’s total economic activity may attract new investment and assist policy makers in identifying those barriers that prevent small and medium en-terprises from entering the formal market. Increased information on small businesses operating in under-regulated environments might encourage the engagement of mainstream small business lenders.
INCOME: Unadjusted household income estimates are derived in a series of calculations. First, a count is made of the number of individuals per income bracket, as determined by the three credit bureau income esti-mates. Then, the average income at the block group level is calculated by applying the Bureau of Labor and Statistics Consumer Expenditure Survey’s estimated av-erage income for individuals within a particular income range (projected from 2004 to 2006) to the income distribution determined. The third calculation adjusts the income estimate to account for informal economic activ-ity. By weighting the following eight proxies, the Drill-Down estimates the monetary value of unregulated eco-nomic activity: household with income below $30,000; difference between household income and household expenditures; the percentage of households with no credit record; the percentage of utility payments made in cash; the number of nontraditional financial service providers per household and per acre; the difference between estimated housing costs and real home values; and the percent foreign born population. Median of the income distribution averaged from the three income ranges provided by the credit bureau data.
1 Over the Rhine 82% $20,636
2 CBD 78% $36,674
3 Linwood 60% $32,739
4 Roselawn 45% $34,346
5 Lower Price Hill 41% $13,984
6 Cincinnati 30% $39,893
7 CUF 26% $26,102
8 West End 24% $17,037
9 Walnut Hills 16% $22,178
10 Mount Auburn 15% $33,233
11 Bondhill 13% $36,032
12 Westwood/E. Westwood 12% $37,806
13 N & S Fairmount/English Wds 10% $20,953
14 S. Cumminsville/Millvale 7% $16,439
15 Evanston 4% $27,600
16 West Price Hill 3% $35,480
17 Riverside 3% $35,372
18 Northside 2% $31,093
19 Spring Grove Village 2% $34,204
20 Madisonville 1% $32,024
DrillDown Median Household Income
% Above Census 2000
1 CBD 68% $52,269
2 Linwood 54% $42,115
3 Walnut Hills 35% $39,562
4 Over the Rhine 32% $26,815
5 Lower Price Hill 31% $20,595
6 CUF 24% $35,158
7 Cincinnati 23% $51,535
8 N & S Fairmount/English Wds 20% $27,075
9 Roselawn 19% $40,589
10 West End 14% $26,889
11 Mount Auburn 13% $40,987
12 Westwood/E. Westwood 13% $43,425
13 Riverside 13% $39,654
14 Winton Hills 12% $21,877
15 Spring Grove Village 11% $42,158
16 Corryville 8% $24,714
17 Northside 7% $38,565
18 West Price Hill 7% $42,957
19 Avondale 5% $26,904
20 Bondhill 3% $41,064
21 East Price Hill 2% $33,785
22 Sedamsville 2% $37,043
23 Madisonville 1% $38,496
DrillDown Average Household Income
% Above Census 2000
13
Social Compact Catalyzing Business Investment in Inner City Neighborhoods
Copyright © The Social Compact, Inc. 2007
Cincinnati DrillDown
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9
9
Fork
Delhi
Harrison
Vine
Madison
Mia
mi
Erie
8th
4 M
ile
Win
ton
Galbraith
Section
Hunt
10
Rid
ge
Foley Clough
Kenw
ood
Ra
ce
Do
nald son
Bend
Eucl
id
D ud ley
Mount Zion
Blue Rock Da
ly
B
ristow
Mcmillan
GestNeeb
Werk
Houston
Lic
king
12th
Industrial
Main
Salem
Am sterdam
Grand
Mall
Banning
Kyles
Buttermilk
State
6th
Pip
pin
Boud
inot
Win
ters
Queen City
Burling to
n
Moock
Sheed
Indian Hill
Clif
ton
Ross
HunleyMemorial
Bramble
Frogtown
River
Summit
Del
ta
Turk
ey F
oot
Fleming
Taylor
Mill
Fair
ba
nks Chu
rch
Montague
Center Hill
11th 10th
Stevens on
Gaine
s
GrandinGuerley
Paxton
New
tow
n
Bremont
Sunset
Ste
wa
rt
BensonGalbraith
Main
0 52.5 Miles
Legend
Aggregate Income
per Acre
$0 - $75K
$75.1K - $150K
$150.1K - $300K
$300.1K - $450K
$450.1K - $611K
1 CBD 116% $101M
2 Linwood 89% $9M
3 Spring Grove Village 64% $58M
4 Roselawn 60% $187M
5 West Price Hill 51% $443M
6 Westwood/E. Westwood 45% $926M
7 Cincinnati 42% $8,796M
8 Northside 31% $191M
9 Madisonville 21% $191M
10 Winton Hills 18% $47M
11 Bondhill 16% $191M
12 East Price Hill 15% $268M
13 Carthage 10% $48M
14 Camp Washington 10% $12M
15 Lower Price Hill 8% $7M
16 Walnut Hills 4% $115M
17 Evanston 3% $114M
DrillDown Aggregate Household Income
% Above Census 2000
1 West Price Hill $297,667
2 CBD $240,628
3 Westwood/E. Westwood $218,835
4 Mount Auburn $213,147
5 Roselawn $185,456
6 CUF $181,734
7 Cincinnati $181,700
Neighborhoods with Income Density
Above City Average
1 Over the Rhine 10.3%
2 Corryville 10.0%
3 Roselawn 9.3%
4 Walnut Hills 8.1%
5 Riverside 8.0%
6 CBD 7.4%
7 Spring Grove Village 7.1%
8 Bondhill 6.1%
9 Lower Price Hill 5.9%
10 Madisonville 5.9%
11 Camp Washington 5.9%
12 Carthage 5.8%
13 S. Cumminsville/Millvale 5.8%
14 Northside 5.6%
15 West Price Hill 5.4%
16 Avondale 5.4%
17 Westwood/E. Westwood 5.3%
18 East Price Hill 5.3%
19 Cincinnati 5.2%
20 Evanston 5.0%
21 Winton Hills 4.9%
22 CUF 4.9%
23 N & S Fairmount/English Wds 4.9%
24 West End 4.8%
25 Linwood 4.7%
26 Mount Auburn 4.6%
27 Fay Apartments 4.0%
28 Sedamsville 3.1%
DrillDown % Informal Economy
14
Social Compact Catalyzing Business Investment in Inner City Neighborhoods
Copyright © The Social Compact, Inc. 2007
Cincinnati DrillDown
MARKET STABILITY/RISK indicators further gauge the viability of business investment in a neighborhood; assessing the presence of community stakeholders and demonstrating trends in real estate property values and crime. Through an estimation of owner occupied units and buildings, the DrillDown assesses homeownership, a factor widely thought to increase individual investment in a community. Since a greater proportion of urban housing stock is multi-unit or multi-family, when compared to suburban housing, Social Compact assesses owner occupancy by building and in so doing reveals a greater number of neighborhood stakeholders. For example, a resident who owns a three-unit building may live in one unit while renting out the other two; owner occupancy measured by unit is 33%; whereas occupancy by building is 100%.
HOMEOWNERSHIP/OWNER OCCUPANCY: An estimate of the percentage of residential units or buildings where the unit or building owner is a resident. Matching the mailing and physical addresses provided by municipal tax assessor records indicates owner occupancy.
1 Sedamsville 83%
2 Riverside 59%
3 Linwood 56%
4 Evanston 56%
5 Northside 50%
6 Mount Auburn 47%
7 N & S Fairmount/English Wds 46%
8 Madisonville 46%
9 Spring Grove Village 44%
10 Bondhill 43%
11 Corryville 42%
12 West Price Hill 41%
13 East Price Hill 40%
14 CUF 40%
15 Lower Price Hill 39%
16 Carthage 39%
17 Cincinnati 39%
18 Camp Washington 36%
19 Walnut Hills 35%
20 Westwood/E. Westwood 34%
21 S. Cumminsville/Millvale 31%
22 Roselawn 30%
23 Avondale 29%
24 Over the Rhine 21%
25 West End 20%
26 CBD 12%
27 Winton Hills 7%
DrillDown % Owner Occupancy
by Unit
1 Bondhill 84%
2 West Price Hill 83%
3 Evanston 83%
4 Spring Grove Village 83%
5 Madisonville 81%
6 Linwood 79%
7 Northside 79%
8 Westwood/E. Westwood 78%
9 Roselawn 72%
10 Cincinnati 72%
11 Riverside 71%
12 East Price Hill 70%
13 Mount Auburn 67%
14 CUF 67%
15 Sedamsville 66%
16 Avondale 63%
17 Carthage 61%
18 N & S Fairmount/English Wds 57%
19 Camp Washington 56%
20 Corryville 51%
21 Walnut Hills 51%
22 Lower Price Hill 44%
23 S. Cumminsville/Millvale 44%
24 West End 41%
25 Over the Rhine 25%
26 CBD 14%
27 Winton Hills 10%
DrillDown % Owner Occupancy
by Building
1 Spring Grove Village 57%
2 Carthage 56%
3 Linwood 56%
4 West Price Hill 54%
5 Madisonville 54%
6 Evanston 54%
7 Sedamsville 50%
8 Northside 49%
9 Bondhill 45%
10 Riverside 40%
11 Cincinnati 39%
12 East Price Hill 39%
13 Westwood/E. Westwood 39%
14 Roselawn 36%
15 N & S Fairmount/English Wds 31%
16 Mount Auburn 29%
17 Camp Washington 29%
18 S. Cumminsville/Millvale 25%
19 Avondale 24%
20 Lower Price Hill 20%
21 Walnut Hills 19%
22 CUF 18%
23 Corryville 13%
24 West End 10%
25 Winton Hills 7%
26 Fay Apartments 5%
27 Over the Rhine 4%
Census 2000 % Owner Occupancy
by Unit
15
Social Compact Catalyzing Business Investment in Inner City Neighborhoods
Copyright © The Social Compact, Inc. 2007
Cincinnati DrillDown MEDIAN HOME SALE VALUE: Median home sale value is calculated using property transaction data from property sales and proprietary and munici-pal real estate data over an 18 month period. BUILDING RECORDS: New construction and rehabilitation (additions, altera-tions, repairs) is assessed using municipal building permit records for the stated period of time. The DrillDown analyzes building permit activity over time, to potentially capture upward trends in residential construction and renovation, which would indicate property investment and a vibrant housing market.
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9
9
Fork
Delhi
Harrison
Vine
Madison
Mia
mi
Erie
8th
4 M
ile
Win
ton
Galbraith
Section
Hunt
10
Rid
ge
Foley Clough
Kenw
ood
Ra
ce
Do
nald son
Bend
Eucl
id
D ud ley
Mount Zion
Blue Rock Da
ly
B
ristow
Mcmillan
GestNeeb
Werk
Houston
Lic
king
12th
Industrial
Main
Salem
Am sterdam
Grand
Mall
Banning
Kyles
Buttermilk
State
6th
Pip
pin
Boud
inot
Win
ters
Queen City
Burling to
n
Moock
Sheed
Indian Hill
Clif
ton
Ross
HunleyMemorial
Bramble
Frogtown
River
Summit
Del
ta
Turk
ey F
oot
FlemingTa
ylor
Mill
Fair
ba
nks Chu
rch
Montague
Center Hill
11th 10th
Stevens on
Gaine
s
GrandinGuerley
Paxton
New
tow
n
Bremont
Sunset
Ste
wa
rt
BensonGalbraith
Main
0 52.5 Miles
Legend
New Construction
New Units
0 - 10
11 - 100
101 - 200
201 - 500
501 - 1677
1 Cincinnati 7,450 12 Mount Auburn 66
2 West End 2,921 13 CUF 43
3 Madisonville 1,280 14 Northside 16
4 CBD 739 15 Evanston 12
5 Bondhill 358 16 N & S Fairmount/English Wds 11
6 Westwood/E. Westwood 276 17 Riverside 11
7 Over the Rhine 206 18 S. Cumminsville/Millvale 8
8 Walnut Hills 167 19 West Price Hill 6
9 Avondale 151 20 East Price Hill 4
10 Carthage 144 21 Camp Washington 3
11 Corryville 93
Total Number of New Residential Units
2002 - 2006
1 Fay Apartments 331.5 15 Spring Grove Village 49.0
2 Winton Hills 118.6 16 N & S Fairmount/English Wds 45.3
3 Linwood 115.6 17 East Price Hill 44.3
4 Over the Rhine 107.4 18 Corryville 43.3
5 Lower Price Hill 102.3 19 Bondhill 42.7
6 Mount Auburn 93.6 20 Sedamsville 42.4
7 S. Cumminsville/Millvale 82.2 21 Avondale 42.1
8 Evanston 77.1 22 Roselawn 38.9
9 Camp Washington 71.7 23 West End 38.7
10 Northside 62.7 24 CUF 37.0
11 Walnut Hills 60.8 25 West Price Hill 27.7
12 Madisonville 58.1 26 CBD 25.1
13 Carthage 57.2 27 Westwood/E. Westwood 23.3
14 Cincinnati 56.0 28 Riverside 17.4
Residential Rehab Permits per 1,000 Households
2002 - 2006
16
Social Compact Catalyzing Business Investment in Inner City Neighborhoods
Copyright © The Social Compact, Inc. 2007
Cincinnati DrillDown
CRIME: Social Compact examines crime data at the block group level, as part of its neighborhood risk and stability analysis. Crime statistics, obtained from local police records, are gathered longitudinally to assess trends in documented criminal activ-ity over time. In order to maintain consis-tency across comparisons of time and ge-ography, Social Compact uses population and household counts from Census 2000 and not current DrillDown estimates; and employs the Federal Bureau of Investiga-tion’s (FBI) Uniform Criminal Reporting (UCR) coding to define property and vio-lent crime (see below). Unless otherwise stated, trends are reported for the start of the earliest year through the end of the latest year for which data was obtained (i.e. “2002 – 2005” is equivalent to Janu-ary 1 2002 – December 31 2005). VIOLENT CRIME includes reported incidents of murder, forcible rape, robbery, and aggravated assault (in accordance with FBI UCR coding). PROPERTY CRIME includes reported incidents of arson, burglary, larceny/theft, and motor vehicle theft (in accordance with FBI UCR coding). COMMUNITY CRIME includes reported incidents of blighted properties, disorderly con-duct, littering, loitering, prostitution, trespassing and vandalism. Social Compact designed this indicator to assess visible incidents of crime that, although not typically included in many official crime statistics, may be of particular interest to the business community.
(1) Stewart, C. and Morris, A. (2002). Development in Underserved Retail Markets. International Council of Shopping Centers and Business for Social Responsibility.
A survey of major retailers identified crime and perceptions of crime as the number one factor influencing retailers’ decisions to locate in underserved markets; 93% of respondents viewed crime as a significant or very significant factor in their location decisions (1). Popular media plays a crucial role in shaping perceptions of inner city neighborhoods, dispro-portionately reporting incidents of crime and exacerbating existing stereotypes. In contrast, Social Compact analyzes reported incidents of crime over a multi-year period and as related to population density, repeatedly uncovering decreasing crime rates that compare favorably with crime rates across a metro area.
1 N & S Fairmount/English Wds -36%
2 Over the Rhine -34%
3 CBD -30%
4 Camp Washington -29%
5 Bondhill -27%
6 Mount Auburn -26%
7 S. Cumminsville/Millvale -24%
8 Walnut Hills -24%
9 West End -22%
10 Corryville -18%
11 CUF -15%
12 Cincinnati -7%
13 Roselawn -7%
14 Evanston -7%
% Change in Violent Crime
2002 - 2006
1 Corryville -30%
2 CBD -30%
3 Fay Apartments -29%
4 Camp Washington -29%
5 Bondhill -28%
6 Winton Hills -26%
7 West End -25%
8 Avondale -19%
9 West Price Hill -18%
10 Over the Rhine -18%
11 Lower Price Hill -16%
12 CUF -14%
13 Evanston -14%
14 Mount Auburn -13%
15 Cincinnati -7%
16 S. Cumminsville/Millvale -6%
17 Spring Grove Village -5%
18 Westwood/E. Westwood -4%
19 Roselawn -1%
% Change in Property Crime
2002 - 2006
1 Camp Washington -52%
2 Corryville -47%
3 CBD -39%
4 Lower Price Hill -39%
5 CUF -34%
6 Sedamsville -31%
7 Over the Rhine -31%
8 Riverside -29%
9 Carthage -24%
10 N & S Fairmount/English Wds -24%
11 East Price Hill -22%
12 Madisonville -21%
13 Northside -18%
14 Spring Grove Village -17%
15 Avondale -16%
16 Cincinnati -14%
17 Bondhill -14%
18 Winton Hills -13%
19 Roselawn -11%
20 Evanston -9%
21 Mount Auburn -8%
22 Walnut Hills -4%
23 Fay Apartments -3%
24 West Price Hill -1%
% Change in Community Crime
2002 - 2006
17
Social Compact Catalyzing Business Investment in Inner City Neighborhoods
Copyright © The Social Compact, Inc. 2007
Cincinnati DrillDown MARKET POTENTIAL is characterized by market anomalies such as high incomes coupled with inadequate financial services and unmet retail demand. While these anomalies may be known intuitively by business leaders in a community, Social Compact DrillDown data provides a more accurate foundation for devising business attraction strategies. Access to tradi-tional financial services and fresh food are essential components of comprehensive community development, yet many mainstream financial institutions and supermarkets tend not to invest in the inner city as they are largely unaware of the economic potential. As a result, many inner city neighborhoods have fewer traditional financial institutions and grocery stores per capita when compared to suburban neighborhoods.
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9
9
Fork
Delhi
Harrison
Vine
Madison
Mia
mi
Erie
8th
4 M
ile
Win
ton
Galbraith
Section
Hunt
10
Rid
ge
Foley Clough
Kenw
ood
Ra
ce
Do
nald son
Bend
Eucl
id
D ud ley
Mount Zion
Blue Rock Da
ly
B
ristow
Mcmillan
GestNeeb
Werk
Houston
Lic
king
12th
Industrial
Main
Salem
Am sterdam
Grand
Mall
Banning
Kyles
Buttermilk
State
6th
Pip
pin
Boud
inot
Win
ters
Queen City
Burling to
n
Moock
Sheed
Indian Hill
Clif
ton
Ross
HunleyMemorial
Bramble
Frogtown
River
Summit
Del
ta
Turk
ey F
oot
Fleming
Taylor
Mill
Fair
ba
nks Chu
rch
Montague
Center Hill
11th 10th
Stevens on
Gaine
s
GrandinGuerley
Paxton
New
tow
n
Bremont
Sunset
Ste
wa
rt
BensonGalbraith
Main
0 52.5 Miles
Legend
Financial Institutions
Population
per Acre
0 - 5
6 - 10
11 - 15
16 - 25
26 - 60
1 Riverside 2.8
2 Sedamsville 1.7
3 Linwood 1.3
4 N & S Fairmount/English Wds 1.2
5 Fay Apartments 1.1
6 S. Cumminsville/Millvale 1.0
7 Bondhill 0.8
8 Lower Price Hill 0.8
9 Evanston 0.7
10 Spring Grove Village 0.6
11 Westwood/E. Westwood 0.6
12 East Price Hill 0.6
13 Madisonville 0.6
14 Cincinnati 0.5
15 Northside 0.5
16 West Price Hill 0.5
17 Avondale 0.4
18 Carthage 0.4
19 Walnut Hills 0.4
20 Mount Auburn 0.3
21 CUF 0.3
22 Camp Washington 0.3
23 Roselawn 0.3
24 Winton Hills 0.3
25 Corryville 0.3
26 Over the Rhine 0.2
27 West End 0.2
28 CBD 0.1
Average Distance to Traditional
Financial Institution (in miles)
1 S. Cumminsville/Millvale 0.0
2 Sedamsville 0.0
3 Riverside 0.0
4 Bondhill 0.0
5 N & S Fairmount/English Wds 0.0
6 Lower Price Hill 0.0
7 Evanston 0.0
8 Linwood 0.0
9 Fay Apartments 0.0
10 East Price Hill 1.3
11 West Price Hill 3.9
12 Mount Auburn 4.5
13 Madisonville 6.0
14 Northside 6.0
15 West End 6.6
16 Spring Grove Village 7.2
17 Avondale 7.7
18 CUF 7.8
19 Westwood/E. Westwood 8.0
20 Cincinnati 8.5
21 Winton Hills 9.3
22 Walnut Hills 10.3
23 Carthage 13.0
24 Roselawn 13.0
25 Over the Rhine 13.7
26 Corryville 57.1
27 Camp Washington 63.0
28 CBD 144.3
Number of Traditional Financial Institutions
per 10,000 Households
TRADITIONAL FINANCIAL INSTITUTIONS include banks and credit unions; based on listings provided by the Federal Deposit Insurance Corporation (FDIC), 2007.
Note: The DrillDown provides information on the presence of traditional and nontraditional financial institutions in order to determine the degree of access neighborhood residents have to these services. The DrillDown measurement of the number of institutions per 10,000 house-holds is used simply to provide a frame of reference for understanding this indicator.
18
Social Compact Catalyzing Business Investment in Inner City Neighborhoods
Copyright © The Social Compact, Inc. 2007
Cincinnati DrillDown
1 CBD 25.8
2 Over the Rhine 22.8
3 Corryville 11.4
4 Roselawn 10.9
5 Walnut Hills 10.3
6 Spring Grove Village 7.2
7 Madisonville 6.0
8 Bondhill 4.3
9 Northside 4.0
10 Westwood/E. Westwood 3.8
11 Cincinnati 2.6
12 CUF 2.0
13 Avondale 1.5
14 East Price Hill 1.3
15 West Price Hill 1.0
16 N & S Fairmount/English Wds 0.0
17 Mount Auburn 0.0
18 Winton Hills 0.0
19 Carthage 0.0
20 Lower Price Hill 0.0
21 West End 0.0
22 Linwood 0.0
23 S. Cumminsville/Millvale 0.0
24 Camp Washington 0.0
25 Fay Apartments 0.0
26 Sedamsville 0.0
27 Evanston 0.0
28 Riverside 0.0
Number of Nontraditional Financial
Institutions per 10,000 Households
1 Spring Grove Village 42%
2 Roselawn 38%
3 West Price Hill 37%
4 Carthage 37%
5 Bondhill 37%
6 CBD 34%
7 Westwood/E. Westwood 32%
8 Riverside 29%
9 Camp Washington 29%
10 Northside 29%
11 East Price Hill 28%
12 Cincinnati 28%
13 Madisonville 26%
14 S. Cumminsville/Millvale 25%
15 Evanston 22%
16 Linwood 21%
17 Avondale 20%
18 Winton Hills 19%
19 N & S Fairmount/English Wds 17%
20 Mount Auburn 11%
21 CUF 8%
22 Lower Price Hill 4%
23 Over the Rhine 3%
24 West End 3%
25 Corryville 0%
26 Walnut Hills 0%
27 Fay Apartments 0%
28 Sedamsville 0%
% of Households without Credit Records
Limited access to traditional banking and financial services has long been a barrier to wealth creation in marginalized communities. This lack of access often translates to higher costs for basic financial transactions (2). Communities faced with a high presence of check cashing institutions, pay-day loan centers and other predatory financial services providers fall victim to higher transactional fees; a recent study found that “borrowers pay $4.2 billion every year in excessive payday lending fees (3).” HOUSEHOLDS WITH NO CREDIT RECORDS: A proxy for underbanked households, a percentage of households without any associated record in any of the three credit bureaus.
(2) Barr, M. (2004). Banking the Poor: Policies to Bring Low-Income Americans Into the Financial Mainstream. Wash-ington, DC: The Brookings Institution. (3) King, U., Parrish, L. & Tanik, O. (November 2006). Financial Quicksand: Payday lending sinks borrowers in debt with $4.2 billion in predatory fees every year. Center for Responsible Lending: Durham, NC.
NONTRADITIONAL FINANCIAL INSTITUTIONS include check cashers, pawnshops and payday lenders.
19
Social Compact Catalyzing Business Investment in Inner City Neighborhoods
Copyright © The Social Compact, Inc. 2007
Cincinnati DrillDown An absence of affordable, quality food does not necessarily result from lack of market demand and can lead to demonstrable health complications such as obesity, diabetes and hypertension (4). Understanding the demand for groceries in communities is essential to development professionals and legislators as many urban areas have begun crafting incen-tives for grocers to locate in their communities. The DrillDown quantifies unmet market demand as the difference between grocery store revenue and estimated expenditures. This calculation, coupled with buying power and aggregate income estimates, demonstrates and promotes opportunities for both full service grocery stores and financial services develop-ment in underserved neighborhoods.
GROCERY ANALYSIS: rillDown analysis of grocery providers is based on the following three categories: (1) national/regional chain grocers; (2) smaller grocers, including local, independent, fresh vegetable markets, ethnic mar-kets; and (3) all grocers, including establishments identified as grocery stores and supermarkets according to NAICS; derived from business-level proprie-tary data. AVERAGE DISTANCE: Distances are calculated from the blockgroup centroid to the nearest establishment within city limits. (4) Gallagher, M. (2006). Examining the Impact of Food Deserts on Public Health in Chicago. Research and Consulting Group.
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9
9
Fork
Delhi
Harrison
Vine
Madison
Mia
mi
Erie
8th
4 M
ile
Win
ton
Galbraith
Section
Hunt
10
Rid
ge
Foley Clough
Kenw
ood
Ra
ce
Do
nald son
Bend
Eucl
id
D ud ley
Mount Zion
Blue Rock Da
ly
B
ristow
Mcmillan
GestNeeb
Werk
Houston
Lic
king
12th
Industrial
Main
Salem
Am sterdam
Grand
Mall
Banning
Kyles
Buttermilk
State
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Population
per Acre
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6 - 10
11 - 15
16 - 25
26 - 60
1 Riverside 2.6
2 Winton Hills 2.1
3 Madisonville 2.0
4 Fay Apartments 1.8
5 Sedamsville 1.7
6 Northside 1.6
7 S. Cumminsville/Millvale 1.6
8 Linwood 1.5
9 Evanston 1.5
10 N & S Fairmount/English Wds 1.2
11 Camp Washington 1.2
12 Carthage 1.1
13 Avondale 1.1
14 Cincinnati 1.1
15 Bondhill 1.1
16 West Price Hill 0.9
17 Spring Grove Village 0.8
18 Westwood/E. Westwood 0.7
19 CBD 0.6
20 Roselawn 0.6
21 Mount Auburn 0.6
22 CUF 0.6
23 East Price Hill 0.5
24 West End 0.5
25 Walnut Hills 0.5
26 Corryville 0.4
27 Lower Price Hill 0.3
28 Over the Rhine 0.3
Average Distance to Full Service Grocer
(in miles)
1 Carthage 0.0
2 Sedamsville 0.0
3 CBD 0.0
4 Mount Auburn 0.0
5 Riverside 0.0
6 Fay Apartments 0.0
7 Linwood 0.0
8 Avondale 0.0
9 Madisonville 0.0
10 Camp Washington 0.0
11 N & S Fairmount/English Wds 0.0
12 CUF 0.0
13 Winton Hills 0.0
14 Evanston 0.0
15 S. Cumminsville/Millvale 0.0
16 Bondhill 0.0
17 West Price Hill 0.0
18 Northside 0.0
19 Cincinnati 1.2
20 East Price Hill 1.3
21 Roselawn 2.2
22 Westwood/E. Westwood 2.3
23 West End 3.3
24 Walnut Hills 3.4
25 Over the Rhine 4.6
26 Spring Grove Village 7.2
27 Corryville 11.4
28 Lower Price Hill 28.1
Number of Full Service Grocers
per 10,000 Households
2007DRILLDOWN
2006Census Trend Proj
2000Census*
ComparisonDrillDown/Trend Proj
MARKET SIZE
Total Population 378,259 309,121 331,874 22.0%
Population per Acre 7.4 6.1 6.5 -
Total # Households 170,680 140,247 147,886 22.0%
MARKET STRENGTH
Average Household Income $54,083 $50,430 $43,992 7.0%
Median Household Income $39,893 $36,764 $30,659 9.0%
Aggregate Neighborhood Income $9,231 Million $7,073 Million $6,506 Million 31.0%
Aggregate Income per Acre $181,700 - - -
% Informal Economy 5.20% - - -
MARKET STABILITY
% Owner Occupancy - Unit 38.8% 39.7% 39.4% -
% Owner Occupancy - Bldg 71.9% - - -
Median Home Sale Value $140,499 $134,470 $98,674 4.0%
New Construction Units ('02-'06) 7,450 50.4 Per 1K Household
Residential Rehab Permits 56.0 Per 1K Household
Violent Crime 2006 11.0 Per 1K People -7% from '02
Property Crime 2006 62.6 Per 1K People -7% from '02
Community Crime 2006 17.1 Per 1K People -14% from '02
DrillDown Market OverviewCincinnati Social Compact
Catalyzing Business Investment in Inner City Neighborhoods
Mayor Mallory and Property Advisors, a Cincinnati based commercial real estate consulting firm, have partnered with Social Compact in the first of a 3-phase study to conduct a DrillDown analysis ofCincinnati, OH, Covington, KY, and Newport, KY, leveraging DrillDown results to inform economic development. Findings from Phase I (analysis of Cincinnati, Covington, & Newport) will inform analyses inPhase II and III, for Hamilton County and the Cincinnati MSA, respectively.
*Note: For the purposes of this study, City of Cincinnati is defined by census blockgroups matching the City boundaries as closely as possible. Because the true boundaries of Cincinnati are block-level based,there is a slight discrepancy between the total 2000 Census population and the figure reported by the U.S. Census Bureau (331,285). Cincinnati is composed of 302 blockgroups and 79 square miles.
275
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Copyright © 2007 Social Compact Inc.
BUSINESSES Total #Total
RevenueTotal #
Employees
All Businesses 13,985 $31,283 Million 239,312 x $2,787 / yr = $706.9 Million
Small Business (Empl. 51 - 100) 357 $3,937 Million 27,044
Small Business (Empl. 20 - 50) 1,138 $6,032 Million 35,085
Small Business (Empl. 6 - 19) 2,610 $4,264 Million 25,935
Small Business (Empl. 1 - 5) 5,562 $2,317 Million 14,183
GROCERY DEMAND Total # # per 10K HHAverageDistance
Total Expenditures
TotalLeakage
EstimatedSq. Ft. Potential
All Grocers 114 6.7 - $533.7 Million -
Full Service Grocers Only 20 1.2 1.06mi $15.2M 44,352
FINANCIAL SERVICES Total # # per 10K HH AverageDistance
Banks & Credit Unions 145 5.7 0.52mi
Banks Only 97 8.5 -
Pawnshops, Cashcheckers, Payday Lenders 45 2.6 -
% of Households lacking credit histories = 28%
RETAIL DEMANDEstimatedRevenue
Estimated Expenditures
EstimatedLeakage
EstimatedSq. Ft. Potential
Retail $2.3 Billion $2.5 Billion $190.7Million -
Apparel $166.5Million $289.4Million $122.9Million 361,856
Restaurants $380.9Million $410.Million $29.1Million 124,792
DrillDown Market Overview
Cincinnati
Employee Annual Spending Potential
Social CompactCatalyzing Business Investment in Inner City Neighborhoods
The lack of dependable business-oriented data on inner-city communities expands the information gap on market trends, disabling potential investors from making informed decisions. Social Compact'sNeighborhood Market DrillDown was established to provide up-to-date profiles of market size, strength, and stability for small, dense, and rapidly changing urban geographies. The DrillDown usesnumerous sources of market data to identify the fundamental business attributes and market characteristics of urban communities and aims to expose market anomalies and opportunities that may havepreviously been overlooked by traditional market analyses.
Copyright © 2007 Social Compact Inc.
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DrillDown Market Overview
Cincinnati Social CompactCatalyzing Business Investment in Inner City Neighborhoods
Copy
right
© 2
007
Socia
l Com
pact
Inc.
2007DRILLDOWN
2006Census Trend Proj
2000Census
ComparisonDrillDown/Trend Proj
MARKET SIZE
Total Population 226,779 199,330 215,662 14.0%
Population per Acre 8.0 7.1 7.6 -
Total # Households 98,338 87,251 92,886 13.0%
MARKET STRENGTH
Average Household Income $39,309 $37,978 $34,174 4.0%
Median Household Income $27,543 $28,159 $24,589 -2.0%
Aggregate Neighborhood Income $3,866 Million $3,314 Million $3,174 Million 17.0%
Aggregate Income per Acre $136,899 - - -
% Informal Economy 6.10% - - -
MARKET STABILITY
% Owner Occupancy - Unit 36.8% 33.3% 33.3% -
% Owner Occupancy - Bldg 66.9% - - -
Median Home Sale Value $118,207 $109,674 $75,079 8.0%
New Construction Units ('02-'06) 6,515 70.1 Per 1K Household
Residential Rehab Permits 50.3 Per 1K Household
Violent Crime 2006 14.3 Per 1K People -10% from '02
Property Crime 2006 73.2 Per 1K People -11% from '02
Community Crime 2006 20.4 Per 1K People -17% from '02
DrillDown Market OverviewStudy Area Social Compact
Catalyzing Business Investment in Inner City Neighborhoods
Mayor Mallory and Property Advisors, a Cincinnati based commercial real estate consulting firm, have partnered with Social Compact in the first of a 3-phase study to conduct a DrillDown analysis ofCincinnati, OH, Covington, KY, and Newport, KY, leveraging DrillDown results to inform economic development. Findings from Phase I (analysis of Cincinnati, Covington, & Newport) will inform analyses inPhase II and III, for Hamilton County and the Cincinnati MSA, respectively.
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8th
0 2.5 51.25 Miles
Copyright © 2007 Social Compact Inc.
BUSINESSES Total #Total
RevenueTotal #
Employees
All Businesses 9,989 $23,115 Million 186,136 x $2,787 / yr = $549.8 Million
Small Business (Empl. 51 - 100) 271 $3,189 Million 20,630
Small Business (Empl. 20 - 50) 855 $4,570 Million 26,642
Small Business (Empl. 6 - 19) 1,872 $3,068 Million 18,591
Small Business (Empl. 1 - 5) 3,869 $1,619 Million 9,981
GROCERY DEMAND Total # # per 10K HHAverageDistance
Total Expenditures
TotalLeakage
EstimatedSq. Ft. Potential
All Grocers 96 9.8 - $273.8 Million -
Full Service Grocers Only 13 1.3 0.9mi -$66.9M -195,044
FINANCIAL SERVICES Total # # per 10K HH AverageDistance
Banks & Credit Unions 94 6 0.52mi
Banks Only 59 9.6 -
Pawnshops, Cashcheckers, Payday Lenders 39 4 -
% of Households lacking credit histories = 25%
RETAIL DEMANDEstimatedRevenue
Estimated Expenditures
EstimatedLeakage
EstimatedSq. Ft. Potential
Retail $1.6 Billion $1.2 Billion $.Million -
Apparel $133.4Million $134.5Million $1.2Million 3,388
Restaurants $236.4Million $193.6Million $.Million -183,257
DrillDown Market Overview
Study Area
Employee Annual Spending Potential
Social CompactCatalyzing Business Investment in Inner City Neighborhoods
The lack of dependable business-oriented data on inner-city communities expands the information gap on market trends, disabling potential investors from making informed decisions. Social Compact'sNeighborhood Market DrillDown was established to provide up-to-date profiles of market size, strength, and stability for small, dense, and rapidly changing urban geographies. The DrillDown usesnumerous sources of market data to identify the fundamental business attributes and market characteristics of urban communities and aims to expose market anomalies and opportunities that may havepreviously been overlooked by traditional market analyses.
Copyright © 2007 Social Compact Inc.
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DrillDown Market Overview
Study Area Social CompactCatalyzing Business Investment in Inner City Neighborhoods
Copy
right
© 2
007
Socia
l Com
pact
Inc.
2007DRILLDOWN
2006Census Trend Proj
2000Census
ComparisonDrillDown/Trend Proj
MARKET SIZE
Total Population 15,258 14,785 16,298 3.0%
Population per Acre 11.0 10.6 11.7 -
Total # Households 6,452 6,321 6,884 2.0%
MARKET STRENGTH
Average Household Income $28,350 $30,394 $26,984 -7.0%
Median Household Income $17,183 $21,303 $18,955 -19.0%
Aggregate Neighborhood Income $183 Million $192 Million $186 Million -5.0%
Aggregate Income per Acre $131,472 - - -
% Informal Economy 5.40% - - -
MARKET STABILITY
% Owner Occupancy - Unit 29.0% 23.7% 23.7% -
% Owner Occupancy - Bldg 63.2% - - -
Median Home Sale Value $95,000 $87,709 $73,079 8.0%
New Construction Units ('02-'06) 151 21.9 Per 1K Household
Residential Rehab Permits 42.1 Per 1K Household
Violent Crime 2006 18.7 Per 1K People 10% from '02
Property Crime 2006 63.5 Per 1K People -19% from '02
Community Crime 2006 19.6 Per 1K People -16% from '02
DrillDown Market OverviewAvondale Social Compact
Catalyzing Business Investment in Inner City Neighborhoods
Mayor Mallory and Property Advisors, a Cincinnati based commercial real estate consulting firm, have partnered with Social Compact in the first of a 3-phase study to conduct a DrillDown analysis ofCincinnati, OH, Covington, KY, and Newport, KY, leveraging DrillDown results to inform economic development. Findings from Phase I (analysis of Cincinnati, Covington, & Newport) will inform analyses inPhase II and III, for Hamilton County and the Cincinnati MSA, respectively.
71
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0 0.5 10.25 Miles
Copyright © 2007 Social Compact Inc.
BUSINESSES Total #Total
RevenueTotal #
Employees
All Businesses 401 $1,232 Million 8,828 x $2,787 / yr = $26.1 Million
Small Business (Empl. 51 - 100) 13 $67 Million 901
Small Business (Empl. 20 - 50) 37 $156 Million 1,179
Small Business (Empl. 6 - 19) 70 $82 Million 677
Small Business (Empl. 1 - 5) 149 $59 Million 391
GROCERY DEMAND Total # # per 10K HHAverageDistance
Total Expenditures
TotalLeakage
EstimatedSq. Ft. Potential
All Grocers 4 6.2 - $16.1 Million -
Full Service Grocers Only 0 0.0 1.08mi $16.1M 46,787
FINANCIAL SERVICES Total # # per 10K HH AverageDistance
Banks & Credit Unions 5 3.1 0.4mi
Banks Only 2 7.7 -
Pawnshops, Cashcheckers, Payday Lenders 1 1.5 -
% of Households lacking credit histories = 20%
RETAIL DEMANDEstimatedRevenue
Estimated Expenditures
EstimatedLeakage
EstimatedSq. Ft. Potential
Retail $. Billion $.1 Billion $25.7Million -
Apparel $4.5Million $7.4Million $2.8Million 8,253
Restaurants $4.9Million $10.5Million $5.6Million 23,804
DrillDown Market Overview
Avondale
Employee Annual Spending Potential
Social CompactCatalyzing Business Investment in Inner City Neighborhoods
The lack of dependable business-oriented data on inner-city communities expands the information gap on market trends, disabling potential investors from making informed decisions. Social Compact'sNeighborhood Market DrillDown was established to provide up-to-date profiles of market size, strength, and stability for small, dense, and rapidly changing urban geographies. The DrillDown usesnumerous sources of market data to identify the fundamental business attributes and market characteristics of urban communities and aims to expose market anomalies and opportunities that may havepreviously been overlooked by traditional market analyses.
Copyright © 2007 Social Compact Inc.
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ness
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DrillDown Market Overview
Avondale Social CompactCatalyzing Business Investment in Inner City Neighborhoods
Copy
right
© 2
007
Socia
l Com
pact
Inc.
2007DRILLDOWN
2006Census Trend Proj
2000Census
ComparisonDrillDown/Trend Proj
MARKET SIZE
Total Population 10,510 8,581 9,682 22.0%
Population per Acre 9.0 7.3 8.3 -
Total # Households 4,663 3,787 4,166 23.0%
MARKET STRENGTH
Average Household Income $43,562 $44,395 $42,136 -2.0%
Median Household Income $36,032 $35,840 $32,003 1.0%
Aggregate Neighborhood Income $203 Million $168 Million $176 Million 21.0%
Aggregate Income per Acre $173,635 - - -
% Informal Economy 6.10% - - -
MARKET STABILITY
% Owner Occupancy - Unit 43.3% 47.9% 45.2% -
% Owner Occupancy - Bldg 84.2% - - -
Median Home Sale Value $92,400 $103,506 $83,450 -11.0%
New Construction Units ('02-'06) 358 85.9 Per 1K Household
Residential Rehab Permits 42.7 Per 1K Household
Violent Crime 2006 8.2 Per 1K People -27% from '02
Property Crime 2006 31.3 Per 1K People -28% from '02
Community Crime 2006 12.7 Per 1K People -14% from '02
DrillDown Market OverviewBondhill Social Compact
Catalyzing Business Investment in Inner City Neighborhoods
Mayor Mallory and Property Advisors, a Cincinnati based commercial real estate consulting firm, have partnered with Social Compact in the first of a 3-phase study to conduct a DrillDown analysis ofCincinnati, OH, Covington, KY, and Newport, KY, leveraging DrillDown results to inform economic development. Findings from Phase I (analysis of Cincinnati, Covington, & Newport) will inform analyses inPhase II and III, for Hamilton County and the Cincinnati MSA, respectively.
71
75
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561
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Forest
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y W
ayne
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dbur
n
Towne
Center Hill
Losantiville
Spring Grov
e
Asmann
Huston
Wie
he
Ross
Galbraith
0 0.5 10.25 Miles
Copyright © 2007 Social Compact Inc.
BUSINESSES Total #Total
RevenueTotal #
Employees
All Businesses 232 $867 Million 3,182 x $2,787 / yr = $9.4 Million
Small Business (Empl. 51 - 100) 13 $353 Million 960
Small Business (Empl. 20 - 50) 29 $246 Million 876
Small Business (Empl. 6 - 19) 45 $98 Million 433
Small Business (Empl. 1 - 5) 83 $29 Million 218
GROCERY DEMAND Total # # per 10K HHAverageDistance
Total Expenditures
TotalLeakage
EstimatedSq. Ft. Potential
All Grocers 1 2.1 - $13.5 Million -
Full Service Grocers Only 0 0.0 1.05mi $13.5M 39,261
FINANCIAL SERVICES Total # # per 10K HH AverageDistance
Banks & Credit Unions 0 0 0.79mi
Banks Only 0 0 -
Pawnshops, Cashcheckers, Payday Lenders 2 4.3 -
% of Households lacking credit histories = 37%
RETAIL DEMANDEstimatedRevenue
Estimated Expenditures
EstimatedLeakage
EstimatedSq. Ft. Potential
Retail $.1 Billion $.1 Billion $5.8Million -
Apparel $.4Million $6.8Million $6.4Million 18,863
Restaurants $3.2Million $9.8Million $6.6Million 28,403
DrillDown Market Overview
Bondhill
Employee Annual Spending Potential
Social CompactCatalyzing Business Investment in Inner City Neighborhoods
The lack of dependable business-oriented data on inner-city communities expands the information gap on market trends, disabling potential investors from making informed decisions. Social Compact'sNeighborhood Market DrillDown was established to provide up-to-date profiles of market size, strength, and stability for small, dense, and rapidly changing urban geographies. The DrillDown usesnumerous sources of market data to identify the fundamental business attributes and market characteristics of urban communities and aims to expose market anomalies and opportunities that may havepreviously been overlooked by traditional market analyses.
Copyright © 2007 Social Compact Inc.
Busi
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DrillDown Market Overview
Bondhill Social CompactCatalyzing Business Investment in Inner City Neighborhoods
Copy
right
© 2
007
Socia
l Com
pact
Inc.
2007DRILLDOWN
2006Census Trend Proj
2000Census
ComparisonDrillDown/Trend Proj
MARKET SIZE
Total Population 1,803 1,331 1,506 35.0%
Population per Acre 2.3 1.7 1.9 -
Total # Households 635 442 502 44.0%
MARKET STRENGTH
Average Household Income $20,364 $27,330 $23,375 -25.0%
Median Household Income $12,380 $25,284 $22,850 -51.0%
Aggregate Neighborhood Income $13 Million $12 Million $12 Million 7.0%
Aggregate Income per Acre $16,283 - - -
% Informal Economy 5.90% - - -
MARKET STABILITY
% Owner Occupancy - Unit 35.6% 28.7% 28.9% -
% Owner Occupancy - Bldg 55.8% - - -
Median Home Sale Value $50,000 $47,571 $39,850 5.0%
New Construction Units ('02-'06) 3 6.0 Per 1K Household
Residential Rehab Permits 71.7 Per 1K Household
Violent Crime 2006 16.6 Per 1K People -29% from '02
Property Crime 2006 142.1 Per 1K People -29% from '02
Community Crime 2006 19.9 Per 1K People -52% from '02
DrillDown Market OverviewCamp Washington Social Compact
Catalyzing Business Investment in Inner City Neighborhoods
Mayor Mallory and Property Advisors, a Cincinnati based commercial real estate consulting firm, have partnered with Social Compact in the first of a 3-phase study to conduct a DrillDown analysis ofCincinnati, OH, Covington, KY, and Newport, KY, leveraging DrillDown results to inform economic development. Findings from Phase I (analysis of Cincinnati, Covington, & Newport) will inform analyses inPhase II and III, for Hamilton County and the Cincinnati MSA, respectively.
Copyright © 2007 Social Compact Inc.
BUSINESSES Total #Total
RevenueTotal #
Employees
All Businesses 256 $1,489 Million 4,606 x $2,787 / yr = $13.6 Million
Small Business (Empl. 51 - 100) 6 $58 Million 525
Small Business (Empl. 20 - 50) 34 $313 Million 1,080
Small Business (Empl. 6 - 19) 70 $184 Million 725
Small Business (Empl. 1 - 5) 84 $46 Million 214
GROCERY DEMAND Total # # per 10K HHAverageDistance
Total Expenditures
TotalLeakage
EstimatedSq. Ft. Potential
All Grocers 1 15.8 - $1.4 Million -
Full Service Grocers Only 0 0.0 1.21mi $1.4M 4,217
FINANCIAL SERVICES Total # # per 10K HH AverageDistance
Banks & Credit Unions 4 31.5 0.3mi
Banks Only 2 63 -
Pawnshops, Cashcheckers, Payday Lenders 0 0 -
% of Households lacking credit histories = 29%
RETAIL DEMANDEstimatedRevenue
Estimated Expenditures
EstimatedLeakage
EstimatedSq. Ft. Potential
Retail $. Billion $. Billion $.Million -
Apparel $.3Million $.6Million $.4Million 1,056
Restaurants $3.6Million $.9Million $.Million -11,465
DrillDown Market Overview
Camp Washington
Employee Annual Spending Potential
Social CompactCatalyzing Business Investment in Inner City Neighborhoods
The lack of dependable business-oriented data on inner-city communities expands the information gap on market trends, disabling potential investors from making informed decisions. Social Compact'sNeighborhood Market DrillDown was established to provide up-to-date profiles of market size, strength, and stability for small, dense, and rapidly changing urban geographies. The DrillDown usesnumerous sources of market data to identify the fundamental business attributes and market characteristics of urban communities and aims to expose market anomalies and opportunities that may havepreviously been overlooked by traditional market analyses.
Copyright © 2007 Social Compact Inc.
Busi
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DrillDown Market Overview
Camp Washington Social CompactCatalyzing Business Investment in Inner City Neighborhoods
Copy
right
© 2
007
Socia
l Com
pact
Inc.
2007DRILLDOWN
2006Census Trend Proj
2000Census
ComparisonDrillDown/Trend Proj
MARKET SIZE
Total Population 3,387 2,194 2,412 54.0%
Population per Acre 6.6 4.3 4.7 -
Total # Households 1,540 996 1,066 55.0%
MARKET STRENGTH
Average Household Income $32,711 $40,783 $42,896 -20.0%
Median Household Income $24,782 $30,846 $27,430 -20.0%
Aggregate Neighborhood Income $50 Million $41 Million $46 Million 24.0%
Aggregate Income per Acre $97,882 - - -
% Informal Economy 5.80% - - -
MARKET STABILITY
% Owner Occupancy - Unit 38.9% 55.7% 55.7% -
% Owner Occupancy - Bldg 61.1% - - -
Median Home Sale Value $79,950 $86,820 $69,733 -8.0%
New Construction Units ('02-'06) 144 135.1 Per 1K Household
Residential Rehab Permits 57.2 Per 1K Household
Violent Crime 2006 11.6 Per 1K People 75% from '02
Property Crime 2006 76.3 Per 1K People 13% from '02
Community Crime 2006 15.3 Per 1K People -24% from '02
DrillDown Market OverviewCarthage Social Compact
Catalyzing Business Investment in Inner City Neighborhoods
Mayor Mallory and Property Advisors, a Cincinnati based commercial real estate consulting firm, have partnered with Social Compact in the first of a 3-phase study to conduct a DrillDown analysis ofCincinnati, OH, Covington, KY, and Newport, KY, leveraging DrillDown results to inform economic development. Findings from Phase I (analysis of Cincinnati, Covington, & Newport) will inform analyses inPhase II and III, for Hamilton County and the Cincinnati MSA, respectively.
75
424
561
562
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Summit
Galbraith
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Way
ne
Center Hill
Pfau
Spring G
rove
Galbraith
MM ii ll ll CC rr ee ee kk
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0 0.5 10.25 Miles
Copyright © 2007 Social Compact Inc.
BUSINESSES Total #Total
RevenueTotal #
Employees
All Businesses 185 $746 Million 1,738 x $2,787 / yr = $5.1 Million
Small Business (Empl. 51 - 100) 5 $53 Million 435
Small Business (Empl. 20 - 50) 8 $155 Million 272
Small Business (Empl. 6 - 19) 41 $62 Million 362
Small Business (Empl. 1 - 5) 81 $55 Million 219
GROCERY DEMAND Total # # per 10K HHAverageDistance
Total Expenditures
TotalLeakage
EstimatedSq. Ft. Potential
All Grocers 0 0.0 - $4. Million -
Full Service Grocers Only 0 0.0 1.11mi $4.M 11,746
FINANCIAL SERVICES Total # # per 10K HH AverageDistance
Banks & Credit Unions 2 13 0.36mi
Banks Only 2 13 -
Pawnshops, Cashcheckers, Payday Lenders 0 0 -
% of Households lacking credit histories = 37%
RETAIL DEMANDEstimatedRevenue
Estimated Expenditures
EstimatedLeakage
EstimatedSq. Ft. Potential
Retail $. Billion $. Billion $.2Million -
Apparel $.Million $1.9Million $1.9Million 5,543
Restaurants $1.2Million $2.7Million $1.5Million 6,303
DrillDown Market Overview
Carthage
Employee Annual Spending Potential
Social CompactCatalyzing Business Investment in Inner City Neighborhoods
The lack of dependable business-oriented data on inner-city communities expands the information gap on market trends, disabling potential investors from making informed decisions. Social Compact'sNeighborhood Market DrillDown was established to provide up-to-date profiles of market size, strength, and stability for small, dense, and rapidly changing urban geographies. The DrillDown usesnumerous sources of market data to identify the fundamental business attributes and market characteristics of urban communities and aims to expose market anomalies and opportunities that may havepreviously been overlooked by traditional market analyses.
Copyright © 2007 Social Compact Inc.
Busi
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DrillDown Market Overview
Carthage Social CompactCatalyzing Business Investment in Inner City Neighborhoods
Copy
right
© 2
007
Socia
l Com
pact
Inc.
2007DRILLDOWN
2006Census Trend Proj
2000Census
ComparisonDrillDown/Trend Proj
MARKET SIZE
Total Population 3,818 3,283 3,189 16.0%
Population per Acre 8.4 7.3 7.0 -
Total # Households 1,940 1,587 1,512 22.0%
MARKET STRENGTH
Average Household Income $56,112 $36,534 $33,340 54.0%
Median Household Income $36,674 $22,376 $20,618 64.0%
Aggregate Neighborhood Income $109 Million $58 Million $50 Million 88.0%
Aggregate Income per Acre $240,628 - - -
% Informal Economy 7.40% - - -
MARKET STABILITY
% Owner Occupancy - Unit 11.5% 1.1% 1.0% -
% Owner Occupancy - Bldg 14.3% - - -
Median Home Sale Value $351,050 $478,125 $112,500 -27.0%
New Construction Units ('02-'06) 739 488.8 Per 1K Household
Residential Rehab Permits 25.1 Per 1K Household
Violent Crime 2006 44.2 Per 1K People -30% from '02
Property Crime 2006 320.5 Per 1K People -30% from '02
Community Crime 2006 43.6 Per 1K People -39% from '02
DrillDown Market OverviewCBD Social Compact
Catalyzing Business Investment in Inner City Neighborhoods
Mayor Mallory and Property Advisors, a Cincinnati based commercial real estate consulting firm, have partnered with Social Compact in the first of a 3-phase study to conduct a DrillDown analysis ofCincinnati, OH, Covington, KY, and Newport, KY, leveraging DrillDown results to inform economic development. Findings from Phase I (analysis of Cincinnati, Covington, & Newport) will inform analyses inPhase II and III, for Hamilton County and the Cincinnati MSA, respectively.
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ay
6th
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3rd
0 0.5 10.25 Miles
Copyright © 2007 Social Compact Inc.
BUSINESSES Total #Total
RevenueTotal #
Employees
All Businesses 2,358 $4,585 Million 65,349 x $2,787 / yr = $193. Million
Small Business (Empl. 51 - 100) 66 $626 Million 5,054
Small Business (Empl. 20 - 50) 220 $1,067 Million 6,987
Small Business (Empl. 6 - 19) 452 $589 Million 4,491
Small Business (Empl. 1 - 5) 939 $364 Million 2,395
GROCERY DEMAND Total # # per 10K HHAverageDistance
Total Expenditures
TotalLeakage
EstimatedSq. Ft. Potential
All Grocers 3 15.5 - $6.2 Million -
Full Service Grocers Only 0 0.0 0.64mi $6.2M 18,027
FINANCIAL SERVICES Total # # per 10K HH AverageDistance
Banks & Credit Unions 28 103.1 0.11mi
Banks Only 20 144.3 -
Pawnshops, Cashcheckers, Payday Lenders 5 25.8 -
% of Households lacking credit histories = 34%
RETAIL DEMANDEstimatedRevenue
Estimated Expenditures
EstimatedLeakage
EstimatedSq. Ft. Potential
Retail $.2 Billion $. Billion $.Million -
Apparel $34.2Million $3.4Million $.Million -90,752
Restaurants $82.Million $4.8Million $.Million -330,804
DrillDown Market Overview
CBD
Employee Annual Spending Potential
Social CompactCatalyzing Business Investment in Inner City Neighborhoods
The lack of dependable business-oriented data on inner-city communities expands the information gap on market trends, disabling potential investors from making informed decisions. Social Compact'sNeighborhood Market DrillDown was established to provide up-to-date profiles of market size, strength, and stability for small, dense, and rapidly changing urban geographies. The DrillDown usesnumerous sources of market data to identify the fundamental business attributes and market characteristics of urban communities and aims to expose market anomalies and opportunities that may havepreviously been overlooked by traditional market analyses.
Copyright © 2007 Social Compact Inc.
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DrillDown Market Overview
CBD Social CompactCatalyzing Business Investment in Inner City Neighborhoods
Copy
right
© 2
007
Socia
l Com
pact
Inc.
2007DRILLDOWN
2006Census Trend Proj
2000Census
ComparisonDrillDown/Trend Proj
MARKET SIZE
Total Population 1,952 3,368 3,830 -42.0%
Population per Acre 5.9 10.2 11.6 -
Total # Households 876 1,616 1,825 -46.0%
MARKET STRENGTH
Average Household Income $27,188 $26,136 $25,127 4.0%
Median Household Income $17,868 $19,002 $17,999 -6.0%
Aggregate Neighborhood Income $24 Million $42 Million $46 Million -44.0%
Aggregate Income per Acre $72,391 - - -
% Informal Economy 10.00% - - -
MARKET STABILITY
% Owner Occupancy - Unit 42.0% 12.8% 12.9% -
% Owner Occupancy - Bldg 51.3% - - -
Median Home Sale Value $211,000 $92,750 $73,625 127.0%
New Construction Units ('02-'06) 93 51.0 Per 1K Household
Residential Rehab Permits 43.3 Per 1K Household
Violent Crime 2006 25.1 Per 1K People -18% from '02
Property Crime 2006 128.5 Per 1K People -30% from '02
Community Crime 2006 26.6 Per 1K People -47% from '02
DrillDown Market OverviewCorryville Social Compact
Catalyzing Business Investment in Inner City Neighborhoods
Mayor Mallory and Property Advisors, a Cincinnati based commercial real estate consulting firm, have partnered with Social Compact in the first of a 3-phase study to conduct a DrillDown analysis ofCincinnati, OH, Covington, KY, and Newport, KY, leveraging DrillDown results to inform economic development. Findings from Phase I (analysis of Cincinnati, Covington, & Newport) will inform analyses inPhase II and III, for Hamilton County and the Cincinnati MSA, respectively.
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22
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ton
Forest
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Race
Lincoln
Jeffe
rson
Woolper
Dorchester
Mcmicken
Ludlow
Mc Micken
Straight
Vine
0 0.25 0.50.125 Miles
Copyright © 2007 Social Compact Inc.
BUSINESSES Total #Total
RevenueTotal #
Employees
All Businesses 364 $1,684 Million 14,494 x $2,787 / yr = $42.8 Million
Small Business (Empl. 51 - 100) 13 $173 Million 1,059
Small Business (Empl. 20 - 50) 40 $223 Million 1,320
Small Business (Empl. 6 - 19) 62 $99 Million 643
Small Business (Empl. 1 - 5) 167 $88 Million 477
GROCERY DEMAND Total # # per 10K HHAverageDistance
Total Expenditures
TotalLeakage
EstimatedSq. Ft. Potential
All Grocers 3 34.3 - $2.1 Million -
Full Service Grocers Only 1 11.4 0.4mi -$25.2M -73,397
FINANCIAL SERVICES Total # # per 10K HH AverageDistance
Banks & Credit Unions 5 22.8 0.25mi
Banks Only 2 57.1 -
Pawnshops, Cashcheckers, Payday Lenders 1 11.4 -
% of Households lacking credit histories = 0%
RETAIL DEMANDEstimatedRevenue
Estimated Expenditures
EstimatedLeakage
EstimatedSq. Ft. Potential
Retail $.1 Billion $. Billion $.Million -
Apparel $3.7Million $1.Million $.Million -8,111
Restaurants $7.1Million $1.4Million $.Million -24,550
DrillDown Market Overview
Corryville
Employee Annual Spending Potential
Social CompactCatalyzing Business Investment in Inner City Neighborhoods
The lack of dependable business-oriented data on inner-city communities expands the information gap on market trends, disabling potential investors from making informed decisions. Social Compact'sNeighborhood Market DrillDown was established to provide up-to-date profiles of market size, strength, and stability for small, dense, and rapidly changing urban geographies. The DrillDown usesnumerous sources of market data to identify the fundamental business attributes and market characteristics of urban communities and aims to expose market anomalies and opportunities that may havepreviously been overlooked by traditional market analyses.
Copyright © 2007 Social Compact Inc.
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DrillDown Market Overview
Corryville Social CompactCatalyzing Business Investment in Inner City Neighborhoods
Copy
right
© 2
007
Socia
l Com
pact
Inc.
2007DRILLDOWN
2006Census Trend Proj
2000Census
ComparisonDrillDown/Trend Proj
MARKET SIZE
Total Population 12,835 15,204 16,119 -16.0%
Population per Acre 12.4 14.7 15.5 -
Total # Households 5,110 6,466 6,862 -21.0%
MARKET STRENGTH
Average Household Income $36,873 $34,553 $29,730 7.0%
Median Household Income $26,102 $23,446 $20,685 11.0%
Aggregate Neighborhood Income $188 Million $223 Million $204 Million -16.0%
Aggregate Income per Acre $181,734 - - -
% Informal Economy 4.90% - - -
MARKET STABILITY
% Owner Occupancy - Unit 39.8% 17.4% 17.5% -
% Owner Occupancy - Bldg 66.5% - - -
Median Home Sale Value $122,750 $112,301 $86,883 9.0%
New Construction Units ('02-'06) 43 6.3 Per 1K Household
Residential Rehab Permits 37.0 Per 1K Household
Violent Crime 2006 10.6 Per 1K People -15% from '02
Property Crime 2006 66.3 Per 1K People -14% from '02
Community Crime 2006 15.6 Per 1K People -34% from '02
DrillDown Market OverviewCUF Social Compact
Catalyzing Business Investment in Inner City Neighborhoods
Mayor Mallory and Property Advisors, a Cincinnati based commercial real estate consulting firm, have partnered with Social Compact in the first of a 3-phase study to conduct a DrillDown analysis ofCincinnati, OH, Covington, KY, and Newport, KY, leveraging DrillDown results to inform economic development. Findings from Phase I (analysis of Cincinnati, Covington, & Newport) will inform analyses inPhase II and III, for Hamilton County and the Cincinnati MSA, respectively.
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urn
Euc
li d UniversityMartin Luther King
Hopp le St
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ay
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Bee
kman
Broadw
ay
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Linn
Mill
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ekM
ill C
reek
0 0.5 10.25 Miles
Copyright © 2007 Social Compact Inc.
BUSINESSES Total #Total
RevenueTotal #
Employees
All Businesses 384 $547 Million 14,115 x $2,787 / yr = $41.7 Million
Small Business (Empl. 51 - 100) 6 $41 Million 495
Small Business (Empl. 20 - 50) 36 $99 Million 1,018
Small Business (Empl. 6 - 19) 65 $87 Million 655
Small Business (Empl. 1 - 5) 174 $79 Million 454
GROCERY DEMAND Total # # per 10K HHAverageDistance
Total Expenditures
TotalLeakage
EstimatedSq. Ft. Potential
All Grocers 5 9.8 - $14. Million -
Full Service Grocers Only 0 0.0 0.56mi $14.M 40,759
FINANCIAL SERVICES Total # # per 10K HH AverageDistance
Banks & Credit Unions 4 3.9 0.31mi
Banks Only 2 7.8 -
Pawnshops, Cashcheckers, Payday Lenders 1 2 -
% of Households lacking credit histories = 8%
RETAIL DEMANDEstimatedRevenue
Estimated Expenditures
EstimatedLeakage
EstimatedSq. Ft. Potential
Retail $. Billion $.1 Billion $29.1Million -
Apparel $4.3Million $6.8Million $2.5Million 7,470
Restaurants $17.3Million $9.7Million $.Million -32,328
DrillDown Market Overview
CUF
Employee Annual Spending Potential
Social CompactCatalyzing Business Investment in Inner City Neighborhoods
The lack of dependable business-oriented data on inner-city communities expands the information gap on market trends, disabling potential investors from making informed decisions. Social Compact'sNeighborhood Market DrillDown was established to provide up-to-date profiles of market size, strength, and stability for small, dense, and rapidly changing urban geographies. The DrillDown usesnumerous sources of market data to identify the fundamental business attributes and market characteristics of urban communities and aims to expose market anomalies and opportunities that may havepreviously been overlooked by traditional market analyses.
Copyright © 2007 Social Compact Inc.
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DrillDown Market Overview
CUF Social CompactCatalyzing Business Investment in Inner City Neighborhoods
Copy
right
© 2
007
Socia
l Com
pact
Inc.
2007DRILLDOWN
2006Census Trend Proj
2000Census
ComparisonDrillDown/Trend Proj
MARKET SIZE
Total Population 19,957 15,828 17,964 26.0%
Population per Acre 10.4 8.2 9.4 -
Total # Households 7,918 6,262 7,026 26.0%
MARKET STRENGTH
Average Household Income $35,566 $38,425 $34,765 -7.0%
Median Household Income $24,992 $29,515 $26,583 -15.0%
Aggregate Neighborhood Income $282 Million $241 Million $244 Million 17.0%
Aggregate Income per Acre $146,578 - - -
% Informal Economy 5.30% - - -
MARKET STABILITY
% Owner Occupancy - Unit 40.4% 39.1% 39.4% -
% Owner Occupancy - Bldg 69.7% - - -
Median Home Sale Value $70,700 $72,865 $61,188 -3.0%
New Construction Units ('02-'06) 4 0.6 Per 1K Household
Residential Rehab Permits 44.3 Per 1K Household
Violent Crime 2006 13.6 Per 1K People 4% from '02
Property Crime 2006 81.8 Per 1K People 6% from '02
Community Crime 2006 22.6 Per 1K People -22% from '02
DrillDown Market OverviewEast Price Hill Social Compact
Catalyzing Business Investment in Inner City Neighborhoods
Mayor Mallory and Property Advisors, a Cincinnati based commercial real estate consulting firm, have partnered with Social Compact in the first of a 3-phase study to conduct a DrillDown analysis ofCincinnati, OH, Covington, KY, and Newport, KY, leveraging DrillDown results to inform economic development. Findings from Phase I (analysis of Cincinnati, Covington, & Newport) will inform analyses inPhase II and III, for Hamilton County and the Cincinnati MSA, respectively.
Copyright © 2007 Social Compact Inc.
BUSINESSES Total #Total
RevenueTotal #
Employees
All Businesses 297 $356 Million 2,279 x $2,787 / yr = $6.7 Million
Small Business (Empl. 51 - 100) 5 $9 Million 430
Small Business (Empl. 20 - 50) 21 $54 Million 612
Small Business (Empl. 6 - 19) 47 $117 Million 492
Small Business (Empl. 1 - 5) 134 $53 Million 349
GROCERY DEMAND Total # # per 10K HHAverageDistance
Total Expenditures
TotalLeakage
EstimatedSq. Ft. Potential
All Grocers 8 10.1 - $21.3 Million -
Full Service Grocers Only 1 1.3 0.54mi -$1.4M -4,195
FINANCIAL SERVICES Total # # per 10K HH AverageDistance
Banks & Credit Unions 1 1.3 0.59mi
Banks Only 1 1.3 -
Pawnshops, Cashcheckers, Payday Lenders 1 1.3 -
% of Households lacking credit histories = 28%
RETAIL DEMANDEstimatedRevenue
Estimated Expenditures
EstimatedLeakage
EstimatedSq. Ft. Potential
Retail $.1 Billion $.1 Billion $35.Million -
Apparel $1.7Million $10.1Million $8.5Million 24,974
Restaurants $8.Million $14.6Million $6.7Million 28,557
DrillDown Market Overview
East Price Hill
Employee Annual Spending Potential
Social CompactCatalyzing Business Investment in Inner City Neighborhoods
The lack of dependable business-oriented data on inner-city communities expands the information gap on market trends, disabling potential investors from making informed decisions. Social Compact'sNeighborhood Market DrillDown was established to provide up-to-date profiles of market size, strength, and stability for small, dense, and rapidly changing urban geographies. The DrillDown usesnumerous sources of market data to identify the fundamental business attributes and market characteristics of urban communities and aims to expose market anomalies and opportunities that may havepreviously been overlooked by traditional market analyses.
Copyright © 2007 Social Compact Inc.
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DrillDown Market Overview
East Price Hill Social CompactCatalyzing Business Investment in Inner City Neighborhoods
Copy
right
© 2
007
Socia
l Com
pact
Inc.
2007DRILLDOWN
2006Census Trend Proj
2000Census
ComparisonDrillDown/Trend Proj
MARKET SIZE
Total Population 8,233 7,338 7,928 12.0%
Population per Acre 11.4 10.2 11.0 -
Total # Households 3,209 2,878 3,059 12.0%
MARKET STRENGTH
Average Household Income $37,254 $43,142 $38,032 -14.0%
Median Household Income $27,600 $30,281 $26,463 -9.0%
Aggregate Neighborhood Income $120 Million $124 Million $116 Million -4.0%
Aggregate Income per Acre $165,895 - - -
% Informal Economy 5.00% - - -
MARKET STABILITY
% Owner Occupancy - Unit 55.5% 53.8% 53.5% -
% Owner Occupancy - Bldg 83.0% - - -
Median Home Sale Value $83,000 $87,157 $68,444 -5.0%
New Construction Units ('02-'06) 12 3.9 Per 1K Household
Residential Rehab Permits 77.1 Per 1K Household
Violent Crime 2006 10.5 Per 1K People -7% from '02
Property Crime 2006 43.6 Per 1K People -14% from '02
Community Crime 2006 15.9 Per 1K People -9% from '02
DrillDown Market OverviewEvanston Social Compact
Catalyzing Business Investment in Inner City Neighborhoods
Mayor Mallory and Property Advisors, a Cincinnati based commercial real estate consulting firm, have partnered with Social Compact in the first of a 3-phase study to conduct a DrillDown analysis ofCincinnati, OH, Covington, KY, and Newport, KY, leveraging DrillDown results to inform economic development. Findings from Phase I (analysis of Cincinnati, Covington, & Newport) will inform analyses inPhase II and III, for Hamilton County and the Cincinnati MSA, respectively.
71
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Tennessee
Mitchell
To
rrence
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Asmann
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Fort Thomas
William Howard Taft
DaytonDay ton
0 0.5 10.25 Miles
Copyright © 2007 Social Compact Inc.
BUSINESSES Total #Total
RevenueTotal #
Employees
All Businesses 153 $152 Million 964 x $2,787 / yr = $2.8 Million
Small Business (Empl. 51 - 100) 0 $0 Million 0
Small Business (Empl. 20 - 50) 6 $68 Million 197
Small Business (Empl. 6 - 19) 23 $33 Million 222
Small Business (Empl. 1 - 5) 81 $28 Million 185
GROCERY DEMAND Total # # per 10K HHAverageDistance
Total Expenditures
TotalLeakage
EstimatedSq. Ft. Potential
All Grocers 3 9.3 - $8.7 Million -
Full Service Grocers Only 0 0.0 1.47mi $8.7M 25,363
FINANCIAL SERVICES Total # # per 10K HH AverageDistance
Banks & Credit Unions 0 0 0.71mi
Banks Only 0 0 -
Pawnshops, Cashcheckers, Payday Lenders 0 0 -
% of Households lacking credit histories = 22%
RETAIL DEMANDEstimatedRevenue
Estimated Expenditures
EstimatedLeakage
EstimatedSq. Ft. Potential
Retail $. Billion $. Billion $26.3Million -
Apparel $.1Million $4.2Million $4.1Million 12,103
Restaurants $.6Million $6.1Million $5.5Million 23,361
DrillDown Market Overview
Evanston
Employee Annual Spending Potential
Social CompactCatalyzing Business Investment in Inner City Neighborhoods
The lack of dependable business-oriented data on inner-city communities expands the information gap on market trends, disabling potential investors from making informed decisions. Social Compact'sNeighborhood Market DrillDown was established to provide up-to-date profiles of market size, strength, and stability for small, dense, and rapidly changing urban geographies. The DrillDown usesnumerous sources of market data to identify the fundamental business attributes and market characteristics of urban communities and aims to expose market anomalies and opportunities that may havepreviously been overlooked by traditional market analyses.
Copyright © 2007 Social Compact Inc.
Busi
ness
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DrillDown Market Overview
Evanston Social CompactCatalyzing Business Investment in Inner City Neighborhoods
Copy
right
© 2
007
Socia
l Com
pact
Inc.
2007DRILLDOWN
2006Census Trend Proj
2000Census
ComparisonDrillDown/Trend Proj
MARKET SIZE
Total Population 2,058 2,288 2,453 -10.0%
Population per Acre 7.9 8.8 9.5 -
Total # Households 771 858 896 -10.0%
MARKET STRENGTH
Average Household Income $12,817 $18,360 $15,081 -30.0%
Median Household Income $9,063 $12,800 $10,911 -29.0%
Aggregate Neighborhood Income $10 Million $16 Million $14 Million -37.0%
Aggregate Income per Acre $38,111 - - -
% Informal Economy 4.00% - - -
MARKET STABILITY
% Owner Occupancy - Unit 6.4% 5.2% 5.2% -
% Owner Occupancy - Bldg 5.4% - - -
Median Home Sale Value $57,300 $67,917 $55,500 -16.0%
New Construction Units ('02-'06) 0 0.0 Per 1K Household
Residential Rehab Permits 331.5 Per 1K Household
Violent Crime 2006 15.9 Per 1K People 11% from '02
Property Crime 2006 66.4 Per 1K People -29% from '02
Community Crime 2006 40.8 Per 1K People -3% from '02
DrillDown Market OverviewFay Apartments Social Compact
Catalyzing Business Investment in Inner City Neighborhoods
Mayor Mallory and Property Advisors, a Cincinnati based commercial real estate consulting firm, have partnered with Social Compact in the first of a 3-phase study to conduct a DrillDown analysis ofCincinnati, OH, Covington, KY, and Newport, KY, leveraging DrillDown results to inform economic development. Findings from Phase I (analysis of Cincinnati, Covington, & Newport) will inform analyses inPhase II and III, for Hamilton County and the Cincinnati MSA, respectively.
Copyright © 2007 Social Compact Inc.
BUSINESSES Total #Total
RevenueTotal #
Employees
All Businesses 11 $36 Million 114 x $2,787 / yr = $.3 Million
Small Business (Empl. 51 - 100) 0 $0 Million 0
Small Business (Empl. 20 - 50) 3 $34 Million 103
Small Business (Empl. 6 - 19) 1 $0 Million 7
Small Business (Empl. 1 - 5) 3 $0 Million 4
GROCERY DEMAND Total # # per 10K HHAverageDistance
Total Expenditures
TotalLeakage
EstimatedSq. Ft. Potential
All Grocers 0 0.0 - $1.6 Million -
Full Service Grocers Only 0 0.0 1.8mi $1.6M 4,684
FINANCIAL SERVICES Total # # per 10K HH AverageDistance
Banks & Credit Unions 0 0 1.1mi
Banks Only 0 0 -
Pawnshops, Cashcheckers, Payday Lenders 0 0 -
% of Households lacking credit histories = 0%
RETAIL DEMANDEstimatedRevenue
Estimated Expenditures
EstimatedLeakage
EstimatedSq. Ft. Potential
Retail $. Billion $. Billion $5.8Million -
Apparel $.Million $.7Million $.7Million 1,930
Restaurants $.Million $.9Million $.9Million 3,882
DrillDown Market Overview
Fay Apartments
Employee Annual Spending Potential
Social CompactCatalyzing Business Investment in Inner City Neighborhoods
The lack of dependable business-oriented data on inner-city communities expands the information gap on market trends, disabling potential investors from making informed decisions. Social Compact'sNeighborhood Market DrillDown was established to provide up-to-date profiles of market size, strength, and stability for small, dense, and rapidly changing urban geographies. The DrillDown usesnumerous sources of market data to identify the fundamental business attributes and market characteristics of urban communities and aims to expose market anomalies and opportunities that may havepreviously been overlooked by traditional market analyses.
Copyright © 2007 Social Compact Inc.
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ness
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DrillDown Market Overview
Fay Apartments Social CompactCatalyzing Business Investment in Inner City Neighborhoods
Copy
right
© 2
007
Socia
l Com
pact
Inc.
2007DRILLDOWN
2006Census Trend Proj
2000Census
ComparisonDrillDown/Trend Proj
MARKET SIZE
Total Population 482 365 402 32.0%
Population per Acre 0.5 0.4 0.4 -
Total # Households 212 161 173 32.0%
MARKET STRENGTH
Average Household Income $44,090 $33,509 $28,592 32.0%
Median Household Income $32,739 $25,179 $20,515 30.0%
Aggregate Neighborhood Income $9 Million $5 Million $5 Million 73.0%
Aggregate Income per Acre $10,055 - - -
% Informal Economy 4.70% - - -
MARKET STABILITY
% Owner Occupancy - Unit 56.1% 55.3% 55.5% -
% Owner Occupancy - Bldg 78.8% - - -
Median Home Sale Value $87,500 $89,583 $74,500 -2.0%
New Construction Units ('02-'06) 0 0.0 Per 1K Household
Residential Rehab Permits 115.6 Per 1K Household
Violent Crime 2006 5.0 Per 1K People 0% from '02
Property Crime 2006 82.1 Per 1K People 3% from '02
Community Crime 2006 19.9 Per 1K People 14% from '02
DrillDown Market OverviewLinwood Social Compact
Catalyzing Business Investment in Inner City Neighborhoods
Mayor Mallory and Property Advisors, a Cincinnati based commercial real estate consulting firm, have partnered with Social Compact in the first of a 3-phase study to conduct a DrillDown analysis ofCincinnati, OH, Covington, KY, and Newport, KY, leveraging DrillDown results to inform economic development. Findings from Phase I (analysis of Cincinnati, Covington, & Newport) will inform analyses inPhase II and III, for Hamilton County and the Cincinnati MSA, respectively.
71
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tl e
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ta
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b urg
0 0.5 10.25 Miles
Copyright © 2007 Social Compact Inc.
BUSINESSES Total #Total
RevenueTotal #
Employees
All Businesses 38 $160 Million 700 x $2,787 / yr = $2.1 Million
Small Business (Empl. 51 - 100) 1 $11 Million 100
Small Business (Empl. 20 - 50) 5 $26 Million 124
Small Business (Empl. 6 - 19) 9 $30 Million 90
Small Business (Empl. 1 - 5) 12 $6 Million 29
GROCERY DEMAND Total # # per 10K HHAverageDistance
Total Expenditures
TotalLeakage
EstimatedSq. Ft. Potential
All Grocers 0 0.0 - $.6 Million -
Full Service Grocers Only 0 0.0 1.49mi $.6M 1,796
FINANCIAL SERVICES Total # # per 10K HH AverageDistance
Banks & Credit Unions 0 0 1.27mi
Banks Only 0 0 -
Pawnshops, Cashcheckers, Payday Lenders 0 0 -
% of Households lacking credit histories = 21%
RETAIL DEMANDEstimatedRevenue
Estimated Expenditures
EstimatedLeakage
EstimatedSq. Ft. Potential
Retail $. Billion $. Billion $.Million -
Apparel $.Million $.3Million $.3Million 931
Restaurants $.Million $.5Million $.5Million 1,936
DrillDown Market Overview
Linwood
Employee Annual Spending Potential
Social CompactCatalyzing Business Investment in Inner City Neighborhoods
The lack of dependable business-oriented data on inner-city communities expands the information gap on market trends, disabling potential investors from making informed decisions. Social Compact'sNeighborhood Market DrillDown was established to provide up-to-date profiles of market size, strength, and stability for small, dense, and rapidly changing urban geographies. The DrillDown usesnumerous sources of market data to identify the fundamental business attributes and market characteristics of urban communities and aims to expose market anomalies and opportunities that may havepreviously been overlooked by traditional market analyses.
Copyright © 2007 Social Compact Inc.
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DrillDown Market Overview
Linwood Social CompactCatalyzing Business Investment in Inner City Neighborhoods
Copy
right
© 2
007
Socia
l Com
pact
Inc.
2007DRILLDOWN
2006Census Trend Proj
2000Census
ComparisonDrillDown/Trend Proj
MARKET SIZE
Total Population 1,102 1,273 1,309 -13.0%
Population per Acre 3.2 3.7 3.8 -
Total # Households 355 413 430 -14.0%
MARKET STRENGTH
Average Household Income $21,816 $19,395 $16,626 12.0%
Median Household Income $13,984 $15,133 $9,944 -8.0%
Aggregate Neighborhood Income $8 Million $8 Million $7 Million -3.0%
Aggregate Income per Acre $22,680 - - -
% Informal Economy 5.90% - - -
MARKET STABILITY
% Owner Occupancy - Unit 39.4% 20.3% 20.2% -
% Owner Occupancy - Bldg 43.8% - - -
Median Home Sale Value $41,700 $31,500 $19,833 32.0%
New Construction Units ('02-'06) 0 0.0 Per 1K Household
Residential Rehab Permits 102.3 Per 1K Household
Violent Crime 2006 23.7 Per 1K People 11% from '02
Property Crime 2006 102.4 Per 1K People -16% from '02
Community Crime 2006 35.1 Per 1K People -39% from '02
DrillDown Market OverviewLower Price Hill Social Compact
Catalyzing Business Investment in Inner City Neighborhoods
Mayor Mallory and Property Advisors, a Cincinnati based commercial real estate consulting firm, have partnered with Social Compact in the first of a 3-phase study to conduct a DrillDown analysis ofCincinnati, OH, Covington, KY, and Newport, KY, leveraging DrillDown results to inform economic development. Findings from Phase I (analysis of Cincinnati, Covington, & Newport) will inform analyses inPhase II and III, for Hamilton County and the Cincinnati MSA, respectively.
Copyright © 2007 Social Compact Inc.
BUSINESSES Total #Total
RevenueTotal #
Employees
All Businesses 110 $345 Million 2,714 x $2,787 / yr = $8. Million
Small Business (Empl. 51 - 100) 2 $34 Million 180
Small Business (Empl. 20 - 50) 9 $127 Million 337
Small Business (Empl. 6 - 19) 24 $31 Million 240
Small Business (Empl. 1 - 5) 36 $15 Million 87
GROCERY DEMAND Total # # per 10K HHAverageDistance
Total Expenditures
TotalLeakage
EstimatedSq. Ft. Potential
All Grocers 5 140.7 - $.8 Million -
Full Service Grocers Only 1 28.1 0.33mi -$72.M -209,801
FINANCIAL SERVICES Total # # per 10K HH AverageDistance
Banks & Credit Unions 0 0 0.75mi
Banks Only 0 0 -
Pawnshops, Cashcheckers, Payday Lenders 0 0 -
% of Households lacking credit histories = 4%
RETAIL DEMANDEstimatedRevenue
Estimated Expenditures
EstimatedLeakage
EstimatedSq. Ft. Potential
Retail $.1 Billion $. Billion $.Million -
Apparel $.Million $.4Million $.4Million 1,046
Restaurants $.2Million $.5Million $.3Million 1,115
DrillDown Market Overview
Lower Price Hill
Employee Annual Spending Potential
Social CompactCatalyzing Business Investment in Inner City Neighborhoods
The lack of dependable business-oriented data on inner-city communities expands the information gap on market trends, disabling potential investors from making informed decisions. Social Compact'sNeighborhood Market DrillDown was established to provide up-to-date profiles of market size, strength, and stability for small, dense, and rapidly changing urban geographies. The DrillDown usesnumerous sources of market data to identify the fundamental business attributes and market characteristics of urban communities and aims to expose market anomalies and opportunities that may havepreviously been overlooked by traditional market analyses.
Copyright © 2007 Social Compact Inc.
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DrillDown Market Overview
Lower Price Hill Social CompactCatalyzing Business Investment in Inner City Neighborhoods
Copy
right
© 2
007
Socia
l Com
pact
Inc.
2007DRILLDOWN
2006Census Trend Proj
2000Census
ComparisonDrillDown/Trend Proj
MARKET SIZE
Total Population 11,334 8,635 9,574 31.0%
Population per Acre 7.6 5.8 6.4 -
Total # Households 4,970 3,817 4,134 30.0%
MARKET STRENGTH
Average Household Income $40,768 $44,199 $40,407 -8.0%
Median Household Income $32,024 $35,309 $31,692 -9.0%
Aggregate Neighborhood Income $203 Million $169 Million $167 Million 20.0%
Aggregate Income per Acre $135,341 - - -
% Informal Economy 5.90% - - -
MARKET STABILITY
% Owner Occupancy - Unit 45.6% 54.4% 53.8% -
% Owner Occupancy - Bldg 81.0% - - -
Median Home Sale Value $98,000 $93,335 $76,630 5.0%
New Construction Units ('02-'06) 1,280 309.6 Per 1K Household
Residential Rehab Permits 58.1 Per 1K Household
Violent Crime 2006 8.3 Per 1K People 10% from '02
Property Crime 2006 37.9 Per 1K People 6% from '02
Community Crime 2006 11.5 Per 1K People -21% from '02
DrillDown Market OverviewMadisonville Social Compact
Catalyzing Business Investment in Inner City Neighborhoods
Mayor Mallory and Property Advisors, a Cincinnati based commercial real estate consulting firm, have partnered with Social Compact in the first of a 3-phase study to conduct a DrillDown analysis ofCincinnati, OH, Covington, KY, and Newport, KY, leveraging DrillDown results to inform economic development. Findings from Phase I (analysis of Cincinnati, Covington, & Newport) will inform analyses inPhase II and III, for Hamilton County and the Cincinnati MSA, respectively.
71
22
50
32
561
125
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Ridge Euclid
Section
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woo
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t
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burg
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ont
Losantivi lle
Set
t le
Delta
Erie
Mar
burg
0 0.5 10.25 Miles
Copyright © 2007 Social Compact Inc.
BUSINESSES Total #Total
RevenueTotal #
Employees
All Businesses 371 $1,046 Million 5,227 x $2,787 / yr = $15.4 Million
Small Business (Empl. 51 - 100) 10 $63 Million 759
Small Business (Empl. 20 - 50) 30 $133 Million 922
Small Business (Empl. 6 - 19) 79 $152 Million 832
Small Business (Empl. 1 - 5) 133 $42 Million 343
GROCERY DEMAND Total # # per 10K HHAverageDistance
Total Expenditures
TotalLeakage
EstimatedSq. Ft. Potential
All Grocers 3 6.0 - $14. Million -
Full Service Grocers Only 0 0.0 2.04mi $14.M 40,900
FINANCIAL SERVICES Total # # per 10K HH AverageDistance
Banks & Credit Unions 3 4 0.56mi
Banks Only 2 6 -
Pawnshops, Cashcheckers, Payday Lenders 3 6 -
% of Households lacking credit histories = 26%
RETAIL DEMANDEstimatedRevenue
Estimated Expenditures
EstimatedLeakage
EstimatedSq. Ft. Potential
Retail $. Billion $.1 Billion $35.2Million -
Apparel $1.2Million $6.9Million $5.7Million 16,843
Restaurants $2.1Million $10.Million $7.9Million 33,953
DrillDown Market Overview
Madisonville
Employee Annual Spending Potential
Social CompactCatalyzing Business Investment in Inner City Neighborhoods
The lack of dependable business-oriented data on inner-city communities expands the information gap on market trends, disabling potential investors from making informed decisions. Social Compact'sNeighborhood Market DrillDown was established to provide up-to-date profiles of market size, strength, and stability for small, dense, and rapidly changing urban geographies. The DrillDown usesnumerous sources of market data to identify the fundamental business attributes and market characteristics of urban communities and aims to expose market anomalies and opportunities that may havepreviously been overlooked by traditional market analyses.
Copyright © 2007 Social Compact Inc.
Busi
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DrillDown Market Overview
Madisonville Social CompactCatalyzing Business Investment in Inner City Neighborhoods
Copy
right
© 2
007
Socia
l Com
pact
Inc.
2007DRILLDOWN
2006Census Trend Proj
2000Census
ComparisonDrillDown/Trend Proj
MARKET SIZE
Total Population 5,355 5,710 6,516 -6.0%
Population per Acre 11.9 12.7 14.5 -
Total # Households 2,238 2,403 2,713 -7.0%
MARKET STRENGTH
Average Household Income $42,859 $45,008 $37,845 -5.0%
Median Household Income $33,233 $33,045 $28,899 1.0%
Aggregate Neighborhood Income $96 Million $108 Million $103 Million -11.0%
Aggregate Income per Acre $213,147 - - -
% Informal Economy 4.60% - - -
MARKET STABILITY
% Owner Occupancy - Unit 46.7% 29.6% 29.3% -
% Owner Occupancy - Bldg 67.4% - - -
Median Home Sale Value $120,000 $110,781 $88,888 8.0%
New Construction Units ('02-'06) 66 24.3 Per 1K Household
Residential Rehab Permits 93.6 Per 1K Household
Violent Crime 2006 8.9 Per 1K People -26% from '02
Property Crime 2006 63.2 Per 1K People -13% from '02
Community Crime 2006 20.3 Per 1K People -8% from '02
DrillDown Market OverviewMount Auburn Social Compact
Catalyzing Business Investment in Inner City Neighborhoods
Mayor Mallory and Property Advisors, a Cincinnati based commercial real estate consulting firm, have partnered with Social Compact in the first of a 3-phase study to conduct a DrillDown analysis ofCincinnati, OH, Covington, KY, and Newport, KY, leveraging DrillDown results to inform economic development. Findings from Phase I (analysis of Cincinnati, Covington, & Newport) will inform analyses inPhase II and III, for Hamilton County and the Cincinnati MSA, respectively.
Copyright © 2007 Social Compact Inc.
BUSINESSES Total #Total
RevenueTotal #
Employees
All Businesses 267 $887 Million 6,029 x $2,787 / yr = $17.8 Million
Small Business (Empl. 51 - 100) 8 $92 Million 556
Small Business (Empl. 20 - 50) 27 $104 Million 828
Small Business (Empl. 6 - 19) 45 $87 Million 446
Small Business (Empl. 1 - 5) 112 $70 Million 334
GROCERY DEMAND Total # # per 10K HHAverageDistance
Total Expenditures
TotalLeakage
EstimatedSq. Ft. Potential
All Grocers 0 0.0 - $6.4 Million -
Full Service Grocers Only 0 0.0 0.59mi $6.4M 18,715
FINANCIAL SERVICES Total # # per 10K HH AverageDistance
Banks & Credit Unions 1 0 0.34mi
Banks Only 0 4.5 -
Pawnshops, Cashcheckers, Payday Lenders 0 0 -
% of Households lacking credit histories = 11%
RETAIL DEMANDEstimatedRevenue
Estimated Expenditures
EstimatedLeakage
EstimatedSq. Ft. Potential
Retail $. Billion $. Billion $16.1Million -
Apparel $.Million $3.2Million $3.2Million 9,526
Restaurants $3.2Million $4.7Million $1.5Million 6,406
DrillDown Market Overview
Mount Auburn
Employee Annual Spending Potential
Social CompactCatalyzing Business Investment in Inner City Neighborhoods
The lack of dependable business-oriented data on inner-city communities expands the information gap on market trends, disabling potential investors from making informed decisions. Social Compact'sNeighborhood Market DrillDown was established to provide up-to-date profiles of market size, strength, and stability for small, dense, and rapidly changing urban geographies. The DrillDown usesnumerous sources of market data to identify the fundamental business attributes and market characteristics of urban communities and aims to expose market anomalies and opportunities that may havepreviously been overlooked by traditional market analyses.
Copyright © 2007 Social Compact Inc.
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DrillDown Market Overview
Mount Auburn Social CompactCatalyzing Business Investment in Inner City Neighborhoods
Copy
right
© 2
007
Socia
l Com
pact
Inc.
2007DRILLDOWN
2006Census Trend Proj
2000Census
ComparisonDrillDown/Trend Proj
MARKET SIZE
Total Population 5,641 7,039 7,761 -20.0%
Population per Acre 5.6 7.0 7.7 -
Total # Households 2,197 2,826 3,049 -22.0%
MARKET STRENGTH
Average Household Income $28,390 $27,688 $23,728 3.0%
Median Household Income $20,953 $22,397 $18,995 -6.0%
Aggregate Neighborhood Income $62 Million $78 Million $72 Million -20.0%
Aggregate Income per Acre $61,714 - - -
% Informal Economy 4.90% - - -
MARKET STABILITY
% Owner Occupancy - Unit 46.0% 31.2% 30.7% -
% Owner Occupancy - Bldg 56.8% - - -
Median Home Sale Value $55,000 $62,159 $50,343 -12.0%
New Construction Units ('02-'06) 11 3.6 Per 1K Household
Residential Rehab Permits 45.3 Per 1K Household
Violent Crime 2006 11.6 Per 1K People -36% from '02
Property Crime 2006 79.8 Per 1K People 6% from '02
Community Crime 2006 22.3 Per 1K People -24% from '02
DrillDown Market OverviewNorth Fairmount / South Fairmount / English Woods
Social CompactCatalyzing Business Investment in Inner City Neighborhoods
Mayor Mallory and Property Advisors, a Cincinnati based commercial real estate consulting firm, have partnered with Social Compact in the first of a 3-phase study to conduct a DrillDown analysis ofCincinnati, OH, Covington, KY, and Newport, KY, leveraging DrillDown results to inform economic development. Findings from Phase I (analysis of Cincinnati, Covington, & Newport) will inform analyses inPhase II and III, for Hamilton County and the Cincinnati MSA, respectively.
Copyright © 2007 Social Compact Inc.
BUSINESSES Total #Total
RevenueTotal #
Employees
All Businesses 149 $160 Million 1,269 x $2,787 / yr = $3.7 Million
Small Business (Empl. 51 - 100) 2 $5 Million 156
Small Business (Empl. 20 - 50) 16 $50 Million 516
Small Business (Empl. 6 - 19) 26 $38 Million 241
Small Business (Empl. 1 - 5) 57 $18 Million 136
GROCERY DEMAND Total # # per 10K HHAverageDistance
Total Expenditures
TotalLeakage
EstimatedSq. Ft. Potential
All Grocers 6 27.3 - $5.5 Million -
Full Service Grocers Only 0 0.0 1.21mi $5.5M 15,974
FINANCIAL SERVICES Total # # per 10K HH AverageDistance
Banks & Credit Unions 0 0 1.15mi
Banks Only 0 0 -
Pawnshops, Cashcheckers, Payday Lenders 0 0 -
% of Households lacking credit histories = 17%
RETAIL DEMANDEstimatedRevenue
Estimated Expenditures
EstimatedLeakage
EstimatedSq. Ft. Potential
Retail $. Billion $. Billion $6.3Million -
Apparel $.5Million $2.5Million $2.Million 5,825
Restaurants $2.9Million $3.6Million $.7Million 2,821
DrillDown Market Overview
North Fairmount / South Fairmount / English Woods
Employee Annual Spending Potential
Social CompactCatalyzing Business Investment in Inner City Neighborhoods
The lack of dependable business-oriented data on inner-city communities expands the information gap on market trends, disabling potential investors from making informed decisions. Social Compact'sNeighborhood Market DrillDown was established to provide up-to-date profiles of market size, strength, and stability for small, dense, and rapidly changing urban geographies. The DrillDown usesnumerous sources of market data to identify the fundamental business attributes and market characteristics of urban communities and aims to expose market anomalies and opportunities that may havepreviously been overlooked by traditional market analyses.
Copyright © 2007 Social Compact Inc.
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DrillDown Market Overview
North Fairmount / South Fairmount / English WoodsSocial Compact
Catalyzing Business Investment in Inner City Neighborhoods
Copy
right
© 2
007
Socia
l Com
pact
Inc.
2007DRILLDOWN
2006Census Trend Proj
2000Census
ComparisonDrillDown/Trend Proj
MARKET SIZE
Total Population 11,326 8,488 9,389 33.0%
Population per Acre 9.8 7.4 8.2 -
Total # Households 4,959 3,770 4,054 32.0%
MARKET STRENGTH
Average Household Income $40,717 $44,560 $37,980 -9.0%
Median Household Income $31,093 $36,027 $30,485 -14.0%
Aggregate Neighborhood Income $202 Million $168 Million $154 Million 20.0%
Aggregate Income per Acre $175,483 - - -
% Informal Economy 5.60% - - -
MARKET STABILITY
% Owner Occupancy - Unit 49.8% 49.7% 49.4% -
% Owner Occupancy - Bldg 78.6% - - -
Median Home Sale Value $84,000 $87,362 $69,290 -4.0%
New Construction Units ('02-'06) 16 3.9 Per 1K Household
Residential Rehab Permits 62.7 Per 1K Household
Violent Crime 2006 14.7 Per 1K People 11% from '02
Property Crime 2006 74.9 Per 1K People 4% from '02
Community Crime 2006 22.9 Per 1K People -18% from '02
DrillDown Market OverviewNorthside Social Compact
Catalyzing Business Investment in Inner City Neighborhoods
Mayor Mallory and Property Advisors, a Cincinnati based commercial real estate consulting firm, have partnered with Social Compact in the first of a 3-phase study to conduct a DrillDown analysis ofCincinnati, OH, Covington, KY, and Newport, KY, leveraging DrillDown results to inform economic development. Findings from Phase I (analysis of Cincinnati, Covington, & Newport) will inform analyses inPhase II and III, for Hamilton County and the Cincinnati MSA, respectively.
75
74
127
27
52
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North Bend
Beekm
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PutzSpring Grove
MM ii ll ll CCrr ee ee kk
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0 0.5 10.25 Miles
Copyright © 2007 Social Compact Inc.
BUSINESSES Total #Total
RevenueTotal #
Employees
All Businesses 399 $496 Million 2,483 x $2,787 / yr = $7.3 Million
Small Business (Empl. 51 - 100) 9 $70 Million 678
Small Business (Empl. 20 - 50) 23 $127 Million 686
Small Business (Empl. 6 - 19) 70 $166 Million 712
Small Business (Empl. 1 - 5) 175 $59 Million 407
GROCERY DEMAND Total # # per 10K HHAverageDistance
Total Expenditures
TotalLeakage
EstimatedSq. Ft. Potential
All Grocers 3 6.0 - $14.1 Million -
Full Service Grocers Only 0 0.0 1.64mi $14.1M 41,030
FINANCIAL SERVICES Total # # per 10K HH AverageDistance
Banks & Credit Unions 3 4 0.5mi
Banks Only 2 6 -
Pawnshops, Cashcheckers, Payday Lenders 2 4 -
% of Households lacking credit histories = 29%
RETAIL DEMANDEstimatedRevenue
Estimated Expenditures
EstimatedLeakage
EstimatedSq. Ft. Potential
Retail $. Billion $.1 Billion $21.2Million -
Apparel $5.3Million $6.9Million $1.6Million 4,773
Restaurants $5.4Million $10.Million $4.6Million 19,727
DrillDown Market Overview
Northside
Employee Annual Spending Potential
Social CompactCatalyzing Business Investment in Inner City Neighborhoods
The lack of dependable business-oriented data on inner-city communities expands the information gap on market trends, disabling potential investors from making informed decisions. Social Compact'sNeighborhood Market DrillDown was established to provide up-to-date profiles of market size, strength, and stability for small, dense, and rapidly changing urban geographies. The DrillDown usesnumerous sources of market data to identify the fundamental business attributes and market characteristics of urban communities and aims to expose market anomalies and opportunities that may havepreviously been overlooked by traditional market analyses.
Copyright © 2007 Social Compact Inc.
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DrillDown Market Overview
Northside Social CompactCatalyzing Business Investment in Inner City Neighborhoods
Copy
right
© 2
007
Socia
l Com
pact
Inc.
2007DRILLDOWN
2006Census Trend Proj
2000Census
ComparisonDrillDown/Trend Proj
MARKET SIZE
Total Population 4,970 7,276 7,638 -32.0%
Population per Acre 12.8 18.8 19.7 -
Total # Households 2,195 3,476 3,594 -37.0%
MARKET STRENGTH
Average Household Income $29,576 $28,490 $22,422 4.0%
Median Household Income $20,636 $16,792 $11,363 23.0%
Aggregate Neighborhood Income $65 Million $99 Million $81 Million -34.0%
Aggregate Income per Acre $167,686 - - -
% Informal Economy 10.30% - - -
MARKET STABILITY
% Owner Occupancy - Unit 21.0% 3.9% 3.9% -
% Owner Occupancy - Bldg 25.2% - - -
Median Home Sale Value $185,000 $101,282 $62,271 83.0%
New Construction Units ('02-'06) 206 57.3 Per 1K Household
Residential Rehab Permits 107.4 Per 1K Household
Violent Crime 2006 57.1 Per 1K People -34% from '02
Property Crime 2006 150.8 Per 1K People -18% from '02
Community Crime 2006 38.5 Per 1K People -31% from '02
DrillDown Market OverviewOver the Rhine Social Compact
Catalyzing Business Investment in Inner City Neighborhoods
Mayor Mallory and Property Advisors, a Cincinnati based commercial real estate consulting firm, have partnered with Social Compact in the first of a 3-phase study to conduct a DrillDown analysis ofCincinnati, OH, Covington, KY, and Newport, KY, leveraging DrillDown results to inform economic development. Findings from Phase I (analysis of Cincinnati, Covington, & Newport) will inform analyses inPhase II and III, for Hamilton County and the Cincinnati MSA, respectively.
Copyright © 2007 Social Compact Inc.
BUSINESSES Total #Total
RevenueTotal #
Employees
All Businesses 876 $924 Million 8,393 x $2,787 / yr = $24.8 Million
Small Business (Empl. 51 - 100) 8 $23 Million 625
Small Business (Empl. 20 - 50) 40 $100 Million 1,198
Small Business (Empl. 6 - 19) 119 $175 Million 1,132
Small Business (Empl. 1 - 5) 290 $112 Million 688
GROCERY DEMAND Total # # per 10K HHAverageDistance
Total Expenditures
TotalLeakage
EstimatedSq. Ft. Potential
All Grocers 20 91.1 - $5.5 Million -
Full Service Grocers Only 1 4.6 0.29mi -$.7M -2,120
FINANCIAL SERVICES Total # # per 10K HH AverageDistance
Banks & Credit Unions 3 0 0.23mi
Banks Only 0 13.7 -
Pawnshops, Cashcheckers, Payday Lenders 5 22.8 -
% of Households lacking credit histories = 3%
RETAIL DEMANDEstimatedRevenue
Estimated Expenditures
EstimatedLeakage
EstimatedSq. Ft. Potential
Retail $.1 Billion $. Billion $.Million -
Apparel $11.3Million $2.5Million $.Million -25,948
Restaurants $7.Million $3.5Million $.Million -14,821
DrillDown Market Overview
Over the Rhine
Employee Annual Spending Potential
Social CompactCatalyzing Business Investment in Inner City Neighborhoods
The lack of dependable business-oriented data on inner-city communities expands the information gap on market trends, disabling potential investors from making informed decisions. Social Compact'sNeighborhood Market DrillDown was established to provide up-to-date profiles of market size, strength, and stability for small, dense, and rapidly changing urban geographies. The DrillDown usesnumerous sources of market data to identify the fundamental business attributes and market characteristics of urban communities and aims to expose market anomalies and opportunities that may havepreviously been overlooked by traditional market analyses.
Copyright © 2007 Social Compact Inc.
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DrillDown Market Overview
Over the Rhine Social CompactCatalyzing Business Investment in Inner City Neighborhoods
Copy
right
© 2
007
Socia
l Com
pact
Inc.
2007DRILLDOWN
2006Census Trend Proj
2000Census
ComparisonDrillDown/Trend Proj
MARKET SIZE
Total Population 1,213 1,589 1,451 -24.0%
Population per Acre 1.3 1.7 1.5 -
Total # Households 516 710 631 -27.0%
MARKET STRENGTH
Average Household Income $42,836 $46,908 $38,055 -9.0%
Median Household Income $35,372 $40,008 $34,487 -12.0%
Aggregate Neighborhood Income $22 Million $33 Million $24 Million -34.0%
Aggregate Income per Acre $23,304 - - -
% Informal Economy 8.00% - - -
MARKET STABILITY
% Owner Occupancy - Unit 58.9% 39.7% 40.3% -
% Owner Occupancy - Bldg 70.9% - - -
Median Home Sale Value $115,450 $75,432 $63,300 53.0%
New Construction Units ('02-'06) 11 17.4 Per 1K Household
Residential Rehab Permits 17.4 Per 1K Household
Violent Crime 2006 2.8 Per 1K People 0% from '02
Property Crime 2006 64.8 Per 1K People 13% from '02
Community Crime 2006 11.7 Per 1K People -29% from '02
DrillDown Market OverviewRiverside Social Compact
Catalyzing Business Investment in Inner City Neighborhoods
Mayor Mallory and Property Advisors, a Cincinnati based commercial real estate consulting firm, have partnered with Social Compact in the first of a 3-phase study to conduct a DrillDown analysis ofCincinnati, OH, Covington, KY, and Newport, KY, leveraging DrillDown results to inform economic development. Findings from Phase I (analysis of Cincinnati, Covington, & Newport) will inform analyses inPhase II and III, for Hamilton County and the Cincinnati MSA, respectively.
275
71
50
8
264
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HillsideDelhi
Foley
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Pete
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8th
Lawrence
Hulbe
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r
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Ben
d
Upper
Turf
way
Bridgetown
Valley Trails
Crookshank
Termina l
Loom
ie
Cleves W arsaw
0 0.9 1.80.45 Miles
Copyright © 2007 Social Compact Inc.
BUSINESSES Total #Total
RevenueTotal #
Employees
All Businesses 75 $471 Million 810 x $2,787 / yr = $2.4 Million
Small Business (Empl. 51 - 100) 2 $33 Million 160
Small Business (Empl. 20 - 50) 14 $306 Million 449
Small Business (Empl. 6 - 19) 14 $67 Million 130
Small Business (Empl. 1 - 5) 27 $25 Million 71
GROCERY DEMAND Total # # per 10K HHAverageDistance
Total Expenditures
TotalLeakage
EstimatedSq. Ft. Potential
All Grocers 0 0.0 - $1.5 Million -
Full Service Grocers Only 0 0.0 2.62mi $1.5M 4,343
FINANCIAL SERVICES Total # # per 10K HH AverageDistance
Banks & Credit Unions 0 0 2.77mi
Banks Only 0 0 -
Pawnshops, Cashcheckers, Payday Lenders 0 0 -
% of Households lacking credit histories = 29%
RETAIL DEMANDEstimatedRevenue
Estimated Expenditures
EstimatedLeakage
EstimatedSq. Ft. Potential
Retail $. Billion $. Billion $4.8Million -
Apparel $.Million $.7Million $.7Million 2,185
Restaurants $.Million $1.1Million $1.1Million 4,628
DrillDown Market Overview
Riverside
Employee Annual Spending Potential
Social CompactCatalyzing Business Investment in Inner City Neighborhoods
The lack of dependable business-oriented data on inner-city communities expands the information gap on market trends, disabling potential investors from making informed decisions. Social Compact'sNeighborhood Market DrillDown was established to provide up-to-date profiles of market size, strength, and stability for small, dense, and rapidly changing urban geographies. The DrillDown usesnumerous sources of market data to identify the fundamental business attributes and market characteristics of urban communities and aims to expose market anomalies and opportunities that may havepreviously been overlooked by traditional market analyses.
Copyright © 2007 Social Compact Inc.
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DrillDown Market Overview
Riverside Social CompactCatalyzing Business Investment in Inner City Neighborhoods
Copy
right
© 2
007
Socia
l Com
pact
Inc.
2007DRILLDOWN
2006Census Trend Proj
2000Census
ComparisonDrillDown/Trend Proj
MARKET SIZE
Total Population 9,668 6,620 7,128 46.0%
Population per Acre 8.8 6.0 6.5 -
Total # Households 4,606 3,180 3,423 45.0%
MARKET STRENGTH
Average Household Income $44,352 $40,925 $37,210 8.0%
Median Household Income $34,346 $26,329 $23,737 30.0%
Aggregate Neighborhood Income $204 Million $130 Million $127 Million 57.0%
Aggregate Income per Acre $185,456 - - -
% Informal Economy 9.30% - - -
MARKET STABILITY
% Owner Occupancy - Unit 30.2% 36.5% 36.2% -
% Owner Occupancy - Bldg 72.0% - - -
Median Home Sale Value $116,950 $91,275 $76,900 28.0%
New Construction Units ('02-'06) 0 0.0 Per 1K Household
Residential Rehab Permits 38.9 Per 1K Household
Violent Crime 2006 12.8 Per 1K People -7% from '02
Property Crime 2006 60.6 Per 1K People -1% from '02
Community Crime 2006 17.7 Per 1K People -11% from '02
DrillDown Market OverviewRoselawn Social Compact
Catalyzing Business Investment in Inner City Neighborhoods
Mayor Mallory and Property Advisors, a Cincinnati based commercial real estate consulting firm, have partnered with Social Compact in the first of a 3-phase study to conduct a DrillDown analysis ofCincinnati, OH, Covington, KY, and Newport, KY, leveraging DrillDown results to inform economic development. Findings from Phase I (analysis of Cincinnati, Covington, & Newport) will inform analyses inPhase II and III, for Hamilton County and the Cincinnati MSA, respectively.
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Copyright © 2007 Social Compact Inc.
BUSINESSES Total #Total
RevenueTotal #
Employees
All Businesses 504 $1,226 Million 6,510 x $2,787 / yr = $19.2 Million
Small Business (Empl. 51 - 100) 18 $246 Million 1,278
Small Business (Empl. 20 - 50) 41 $170 Million 1,216
Small Business (Empl. 6 - 19) 99 $167 Million 976
Small Business (Empl. 1 - 5) 180 $73 Million 464
GROCERY DEMAND Total # # per 10K HHAverageDistance
Total Expenditures
TotalLeakage
EstimatedSq. Ft. Potential
All Grocers 5 10.9 - $13.4 Million -
Full Service Grocers Only 1 2.2 0.63mi -$10.3M -29,968
FINANCIAL SERVICES Total # # per 10K HH AverageDistance
Banks & Credit Unions 6 10.9 0.3mi
Banks Only 5 13 -
Pawnshops, Cashcheckers, Payday Lenders 5 10.9 -
% of Households lacking credit histories = 38%
RETAIL DEMANDEstimatedRevenue
Estimated Expenditures
EstimatedLeakage
EstimatedSq. Ft. Potential
Retail $.1 Billion $.1 Billion $.Million -
Apparel $4.1Million $6.7Million $2.6Million 7,654
Restaurants $9.Million $9.7Million $.7Million 3,145
DrillDown Market Overview
Roselawn
Employee Annual Spending Potential
Social CompactCatalyzing Business Investment in Inner City Neighborhoods
The lack of dependable business-oriented data on inner-city communities expands the information gap on market trends, disabling potential investors from making informed decisions. Social Compact'sNeighborhood Market DrillDown was established to provide up-to-date profiles of market size, strength, and stability for small, dense, and rapidly changing urban geographies. The DrillDown usesnumerous sources of market data to identify the fundamental business attributes and market characteristics of urban communities and aims to expose market anomalies and opportunities that may havepreviously been overlooked by traditional market analyses.
Copyright © 2007 Social Compact Inc.
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DrillDown Market Overview
Roselawn Social CompactCatalyzing Business Investment in Inner City Neighborhoods
Copy
right
© 2
007
Socia
l Com
pact
Inc.
2007DRILLDOWN
2006Census Trend Proj
2000Census
ComparisonDrillDown/Trend Proj
MARKET SIZE
Total Population 1,405 1,908 2,223 -26.0%
Population per Acre 1.7 2.3 2.7 -
Total # Households 472 657 754 -28.0%
MARKET STRENGTH
Average Household Income $38,184 $42,861 $37,530 -11.0%
Median Household Income $32,126 $36,909 $33,231 -13.0%
Aggregate Neighborhood Income $18 Million $28 Million $28 Million -36.0%
Aggregate Income per Acre $21,527 - - -
% Informal Economy 3.10% - - -
MARKET STABILITY
% Owner Occupancy - Unit 83.2% 50.2% 50.0% -
% Owner Occupancy - Bldg 65.8% - - -
Median Home Sale Value $59,450 $64,422 $54,050 -8.0%
New Construction Units ('02-'06) 0 0.0 Per 1K Household
Residential Rehab Permits 42.4 Per 1K Household
Violent Crime 2006 7.6 Per 1K People 6% from '02
Property Crime 2006 76.9 Per 1K People 27% from '02
Community Crime 2006 15.7 Per 1K People -31% from '02
DrillDown Market OverviewSedamsville Social Compact
Catalyzing Business Investment in Inner City Neighborhoods
Mayor Mallory and Property Advisors, a Cincinnati based commercial real estate consulting firm, have partnered with Social Compact in the first of a 3-phase study to conduct a DrillDown analysis ofCincinnati, OH, Covington, KY, and Newport, KY, leveraging DrillDown results to inform economic development. Findings from Phase I (analysis of Cincinnati, Covington, & Newport) will inform analyses inPhase II and III, for Hamilton County and the Cincinnati MSA, respectively.
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0 0.5 10.25 Miles
Copyright © 2007 Social Compact Inc.
BUSINESSES Total #Total
RevenueTotal #
Employees
All Businesses 42 $146 Million 533 x $2,787 / yr = $1.6 Million
Small Business (Empl. 51 - 100) 2 $100 Million 175
Small Business (Empl. 20 - 50) 2 $10 Million 65
Small Business (Empl. 6 - 19) 12 $18 Million 95
Small Business (Empl. 1 - 5) 13 $5 Million 37
GROCERY DEMAND Total # # per 10K HHAverageDistance
Total Expenditures
TotalLeakage
EstimatedSq. Ft. Potential
All Grocers 0 0.0 - $1.3 Million -
Full Service Grocers Only 0 0.0 1.66mi $1.3M 3,808
FINANCIAL SERVICES Total # # per 10K HH AverageDistance
Banks & Credit Unions 0 0 1.73mi
Banks Only 0 0 -
Pawnshops, Cashcheckers, Payday Lenders 0 0 -
% of Households lacking credit histories = 0%
RETAIL DEMANDEstimatedRevenue
Estimated Expenditures
EstimatedLeakage
EstimatedSq. Ft. Potential
Retail $. Billion $. Billion $.8Million -
Apparel $.1Million $.6Million $.5Million 1,532
Restaurants $.2Million $.9Million $.8Million 3,257
DrillDown Market Overview
Sedamsville
Employee Annual Spending Potential
Social CompactCatalyzing Business Investment in Inner City Neighborhoods
The lack of dependable business-oriented data on inner-city communities expands the information gap on market trends, disabling potential investors from making informed decisions. Social Compact'sNeighborhood Market DrillDown was established to provide up-to-date profiles of market size, strength, and stability for small, dense, and rapidly changing urban geographies. The DrillDown usesnumerous sources of market data to identify the fundamental business attributes and market characteristics of urban communities and aims to expose market anomalies and opportunities that may havepreviously been overlooked by traditional market analyses.
Copyright © 2007 Social Compact Inc.
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DrillDown Market Overview
Sedamsville Social CompactCatalyzing Business Investment in Inner City Neighborhoods
Copy
right
© 2
007
Socia
l Com
pact
Inc.
2007DRILLDOWN
2006Census Trend Proj
2000Census
ComparisonDrillDown/Trend Proj
MARKET SIZE
Total Population 3,838 3,743 3,914 3.0%
Population per Acre 6.9 6.8 7.1 -
Total # Households 1,426 1,398 1,423 2.0%
MARKET STRENGTH
Average Household Income $22,791 $22,495 $23,378 1.0%
Median Household Income $16,439 $16,828 $15,412 -2.0%
Aggregate Neighborhood Income $33 Million $31 Million $33 Million 3.0%
Aggregate Income per Acre $58,656 - - -
% Informal Economy 5.80% - - -
MARKET STABILITY
% Owner Occupancy - Unit 30.8% 24.8% 25.2% -
% Owner Occupancy - Bldg 43.7% - - -
Median Home Sale Value $56,000 $62,668 $52,900 -11.0%
New Construction Units ('02-'06) 8 5.6 Per 1K Household
Residential Rehab Permits 82.2 Per 1K Household
Violent Crime 2006 12.8 Per 1K People -24% from '02
Property Crime 2006 69.7 Per 1K People -6% from '02
Community Crime 2006 31.4 Per 1K People 6% from '02
DrillDown Market OverviewSouth Cumminsville / Millvale Social Compact
Catalyzing Business Investment in Inner City Neighborhoods
Mayor Mallory and Property Advisors, a Cincinnati based commercial real estate consulting firm, have partnered with Social Compact in the first of a 3-phase study to conduct a DrillDown analysis ofCincinnati, OH, Covington, KY, and Newport, KY, leveraging DrillDown results to inform economic development. Findings from Phase I (analysis of Cincinnati, Covington, & Newport) will inform analyses inPhase II and III, for Hamilton County and the Cincinnati MSA, respectively.
Copyright © 2007 Social Compact Inc.
BUSINESSES Total #Total
RevenueTotal #
Employees
All Businesses 74 $493 Million 887 x $2,787 / yr = $2.6 Million
Small Business (Empl. 51 - 100) 3 $305 Million 220
Small Business (Empl. 20 - 50) 7 $33 Million 201
Small Business (Empl. 6 - 19) 19 $57 Million 238
Small Business (Empl. 1 - 5) 18 $40 Million 48
GROCERY DEMAND Total # # per 10K HHAverageDistance
Total Expenditures
TotalLeakage
EstimatedSq. Ft. Potential
All Grocers 2 14.0 - $3.3 Million -
Full Service Grocers Only 0 0.0 1.62mi $3.3M 9,576
FINANCIAL SERVICES Total # # per 10K HH AverageDistance
Banks & Credit Unions 0 0 0.96mi
Banks Only 0 0 -
Pawnshops, Cashcheckers, Payday Lenders 0 0 -
% of Households lacking credit histories = 25%
RETAIL DEMANDEstimatedRevenue
Estimated Expenditures
EstimatedLeakage
EstimatedSq. Ft. Potential
Retail $. Billion $. Billion $7.4Million -
Apparel $.Million $1.5Million $1.5Million 4,289
Restaurants $.9Million $2.1Million $1.2Million 5,042
DrillDown Market Overview
South Cumminsville / Millvale
Employee Annual Spending Potential
Social CompactCatalyzing Business Investment in Inner City Neighborhoods
The lack of dependable business-oriented data on inner-city communities expands the information gap on market trends, disabling potential investors from making informed decisions. Social Compact'sNeighborhood Market DrillDown was established to provide up-to-date profiles of market size, strength, and stability for small, dense, and rapidly changing urban geographies. The DrillDown usesnumerous sources of market data to identify the fundamental business attributes and market characteristics of urban communities and aims to expose market anomalies and opportunities that may havepreviously been overlooked by traditional market analyses.
Copyright © 2007 Social Compact Inc.
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DrillDown Market Overview
South Cumminsville / Millvale Social CompactCatalyzing Business Investment in Inner City Neighborhoods
Copy
right
© 2
007
Socia
l Com
pact
Inc.
2007DRILLDOWN
2006Census Trend Proj
2000Census
ComparisonDrillDown/Trend Proj
MARKET SIZE
Total Population 3,339 2,112 2,337 58.0%
Population per Acre 2.7 1.7 1.9 -
Total # Households 1,381 873 939 58.0%
MARKET STRENGTH
Average Household Income $45,157 $45,544 $40,547 -1.0%
Median Household Income $34,204 $37,558 $33,559 -9.0%
Aggregate Neighborhood Income $62 Million $40 Million $38 Million 57.0%
Aggregate Income per Acre $50,349 - - -
% Informal Economy 7.10% - - -
MARKET STABILITY
% Owner Occupancy - Unit 43.8% 57.0% 57.4% -
% Owner Occupancy - Bldg 82.8% - - -
Median Home Sale Value $80,000 $79,775 $67,167 0.0%
New Construction Units ('02-'06) 0 0.0 Per 1K Household
Residential Rehab Permits 49.0 Per 1K Household
Violent Crime 2006 18.4 Per 1K People 34% from '02
Property Crime 2006 110.4 Per 1K People -5% from '02
Community Crime 2006 24.8 Per 1K People -17% from '02
DrillDown Market OverviewSpring Grove Village Social Compact
Catalyzing Business Investment in Inner City Neighborhoods
Mayor Mallory and Property Advisors, a Cincinnati based commercial real estate consulting firm, have partnered with Social Compact in the first of a 3-phase study to conduct a DrillDown analysis ofCincinnati, OH, Covington, KY, and Newport, KY, leveraging DrillDown results to inform economic development. Findings from Phase I (analysis of Cincinnati, Covington, & Newport) will inform analyses inPhase II and III, for Hamilton County and the Cincinnati MSA, respectively.
Copyright © 2007 Social Compact Inc.
BUSINESSES Total #Total
RevenueTotal #
Employees
All Businesses 119 $825 Million 3,521 x $2,787 / yr = $10.4 Million
Small Business (Empl. 51 - 100) 9 $245 Million 668
Small Business (Empl. 20 - 50) 16 $156 Million 479
Small Business (Empl. 6 - 19) 22 $55 Million 201
Small Business (Empl. 1 - 5) 34 $11 Million 78
GROCERY DEMAND Total # # per 10K HHAverageDistance
Total Expenditures
TotalLeakage
EstimatedSq. Ft. Potential
All Grocers 3 21.7 - $4. Million -
Full Service Grocers Only 1 7.2 0.78mi -$23.3M -67,770
FINANCIAL SERVICES Total # # per 10K HH AverageDistance
Banks & Credit Unions 1 7.2 0.63mi
Banks Only 1 7.2 -
Pawnshops, Cashcheckers, Payday Lenders 1 7.2 -
% of Households lacking credit histories = 42%
RETAIL DEMANDEstimatedRevenue
Estimated Expenditures
EstimatedLeakage
EstimatedSq. Ft. Potential
Retail $. Billion $. Billion $.Million -
Apparel $23.4Million $2.Million $.Million -62,890
Restaurants $6.Million $3.Million $.Million -12,896
DrillDown Market Overview
Spring Grove Village
Employee Annual Spending Potential
Social CompactCatalyzing Business Investment in Inner City Neighborhoods
The lack of dependable business-oriented data on inner-city communities expands the information gap on market trends, disabling potential investors from making informed decisions. Social Compact'sNeighborhood Market DrillDown was established to provide up-to-date profiles of market size, strength, and stability for small, dense, and rapidly changing urban geographies. The DrillDown usesnumerous sources of market data to identify the fundamental business attributes and market characteristics of urban communities and aims to expose market anomalies and opportunities that may havepreviously been overlooked by traditional market analyses.
Copyright © 2007 Social Compact Inc.
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DrillDown Market Overview
Spring Grove Village Social CompactCatalyzing Business Investment in Inner City Neighborhoods
Copy
right
© 2
007
Socia
l Com
pact
Inc.
2007DRILLDOWN
2006Census Trend Proj
2000Census
ComparisonDrillDown/Trend Proj
MARKET SIZE
Total Population 6,020 7,486 7,790 -20.0%
Population per Acre 6.4 8.0 8.3 -
Total # Households 2,908 3,693 3,797 -21.0%
MARKET STRENGTH
Average Household Income $42,783 $31,253 $31,608 37.0%
Median Household Income $22,178 $22,149 $19,199 0.0%
Aggregate Neighborhood Income $124 Million $115 Million $120 Million 8.0%
Aggregate Income per Acre $132,492 - - -
% Informal Economy 8.10% - - -
MARKET STABILITY
% Owner Occupancy - Unit 34.8% 18.8% 18.8% -
% Owner Occupancy - Bldg 51.0% - - -
Median Home Sale Value $153,250 $91,705 $73,509 67.0%
New Construction Units ('02-'06) 167 44.0 Per 1K Household
Residential Rehab Permits 60.8 Per 1K Household
Violent Crime 2006 20.7 Per 1K People -24% from '02
Property Crime 2006 118.6 Per 1K People 30% from '02
Community Crime 2006 29.5 Per 1K People -4% from '02
DrillDown Market OverviewWalnut Hills Social Compact
Catalyzing Business Investment in Inner City Neighborhoods
Mayor Mallory and Property Advisors, a Cincinnati based commercial real estate consulting firm, have partnered with Social Compact in the first of a 3-phase study to conduct a DrillDown analysis ofCincinnati, OH, Covington, KY, and Newport, KY, leveraging DrillDown results to inform economic development. Findings from Phase I (analysis of Cincinnati, Covington, & Newport) will inform analyses inPhase II and III, for Hamilton County and the Cincinnati MSA, respectively.
Copyright © 2007 Social Compact Inc.
BUSINESSES Total #Total
RevenueTotal #
Employees
All Businesses 585 $968 Million 7,513 x $2,787 / yr = $22.2 Million
Small Business (Empl. 51 - 100) 20 $171 Million 1,565
Small Business (Empl. 20 - 50) 50 $188 Million 1,525
Small Business (Empl. 6 - 19) 113 $207 Million 1,114
Small Business (Empl. 1 - 5) 203 $74 Million 529
GROCERY DEMAND Total # # per 10K HHAverageDistance
Total Expenditures
TotalLeakage
EstimatedSq. Ft. Potential
All Grocers 3 10.3 - $8.2 Million -
Full Service Grocers Only 1 3.4 0.48mi -$10.M -29,093
FINANCIAL SERVICES Total # # per 10K HH AverageDistance
Banks & Credit Unions 3 6.9 0.35mi
Banks Only 2 10.3 -
Pawnshops, Cashcheckers, Payday Lenders 3 10.3 -
% of Households lacking credit histories = 0%
RETAIL DEMANDEstimatedRevenue
Estimated Expenditures
EstimatedLeakage
EstimatedSq. Ft. Potential
Retail $.1 Billion $. Billion $.Million -
Apparel $3.7Million $4.1Million $.5Million 1,361
Restaurants $9.2Million $5.9Million $.Million -14,204
DrillDown Market Overview
Walnut Hills
Employee Annual Spending Potential
Social CompactCatalyzing Business Investment in Inner City Neighborhoods
The lack of dependable business-oriented data on inner-city communities expands the information gap on market trends, disabling potential investors from making informed decisions. Social Compact'sNeighborhood Market DrillDown was established to provide up-to-date profiles of market size, strength, and stability for small, dense, and rapidly changing urban geographies. The DrillDown usesnumerous sources of market data to identify the fundamental business attributes and market characteristics of urban communities and aims to expose market anomalies and opportunities that may havepreviously been overlooked by traditional market analyses.
Copyright © 2007 Social Compact Inc.
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DrillDown Market Overview
Walnut Hills Social CompactCatalyzing Business Investment in Inner City Neighborhoods
Copy
right
© 2
007
Socia
l Com
pact
Inc.
2007DRILLDOWN
2006Census Trend Proj
2000Census
ComparisonDrillDown/Trend Proj
MARKET SIZE
Total Population 6,331 7,720 8,115 -18.0%
Population per Acre 9.9 12.0 12.7 -
Total # Households 3,025 3,854 3,958 -22.0%
MARKET STRENGTH
Average Household Income $28,172 $30,833 $24,646 -9.0%
Median Household Income $17,037 $18,270 $13,711 -7.0%
Aggregate Neighborhood Income $85 Million $119 Million $98 Million -28.0%
Aggregate Income per Acre $132,902 - - -
% Informal Economy 4.80% - - -
MARKET STABILITY
% Owner Occupancy - Unit 20.2% 10.3% 10.3% -
% Owner Occupancy - Bldg 41.1% - - -
Median Home Sale Value $162,500 $139,161 $75,900 17.0%
New Construction Units ('02-'06) 2,921 738.0 Per 1K Household
Residential Rehab Permits 38.7 Per 1K Household
Violent Crime 2006 22.3 Per 1K People -22% from '02
Property Crime 2006 76.3 Per 1K People -25% from '02
Community Crime 2006 31.2 Per 1K People 16% from '02
DrillDown Market OverviewWest End Social Compact
Catalyzing Business Investment in Inner City Neighborhoods
Mayor Mallory and Property Advisors, a Cincinnati based commercial real estate consulting firm, have partnered with Social Compact in the first of a 3-phase study to conduct a DrillDown analysis ofCincinnati, OH, Covington, KY, and Newport, KY, leveraging DrillDown results to inform economic development. Findings from Phase I (analysis of Cincinnati, Covington, & Newport) will inform analyses inPhase II and III, for Hamilton County and the Cincinnati MSA, respectively.
Copyright © 2007 Social Compact Inc.
BUSINESSES Total #Total
RevenueTotal #
Employees
All Businesses 476 $1,361 Million 10,540 x $2,787 / yr = $31.1 Million
Small Business (Empl. 51 - 100) 20 $187 Million 1,510
Small Business (Empl. 20 - 50) 51 $235 Million 1,670
Small Business (Empl. 6 - 19) 96 $131 Million 964
Small Business (Empl. 1 - 5) 148 $52 Million 399
GROCERY DEMAND Total # # per 10K HHAverageDistance
Total Expenditures
TotalLeakage
EstimatedSq. Ft. Potential
All Grocers 3 9.9 - $7.5 Million -
Full Service Grocers Only 1 3.3 0.49mi $2.8M 8,019
FINANCIAL SERVICES Total # # per 10K HH AverageDistance
Banks & Credit Unions 2 3.3 0.22mi
Banks Only 1 6.6 -
Pawnshops, Cashcheckers, Payday Lenders 0 0 -
% of Households lacking credit histories = 3%
RETAIL DEMANDEstimatedRevenue
Estimated Expenditures
EstimatedLeakage
EstimatedSq. Ft. Potential
Retail $. Billion $. Billion $.Million -
Apparel $10.3Million $3.5Million $.Million -19,919
Restaurants $3.2Million $5.Million $1.8Million 7,519
DrillDown Market Overview
West End
Employee Annual Spending Potential
Social CompactCatalyzing Business Investment in Inner City Neighborhoods
The lack of dependable business-oriented data on inner-city communities expands the information gap on market trends, disabling potential investors from making informed decisions. Social Compact'sNeighborhood Market DrillDown was established to provide up-to-date profiles of market size, strength, and stability for small, dense, and rapidly changing urban geographies. The DrillDown usesnumerous sources of market data to identify the fundamental business attributes and market characteristics of urban communities and aims to expose market anomalies and opportunities that may havepreviously been overlooked by traditional market analyses.
Copyright © 2007 Social Compact Inc.
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DrillDown Market Overview
West End Social CompactCatalyzing Business Investment in Inner City Neighborhoods
Copy
right
© 2
007
Socia
l Com
pact
Inc.
2007DRILLDOWN
2006Census Trend Proj
2000Census
ComparisonDrillDown/Trend Proj
MARKET SIZE
Total Population 23,901 15,859 17,303 51.0%
Population per Acre 15.2 10.1 11.0 -
Total # Households 10,306 6,837 7,303 51.0%
MARKET STRENGTH
Average Household Income $45,268 $47,273 $42,246 -4.0%
Median Household Income $35,480 $39,213 $34,576 -10.0%
Aggregate Neighborhood Income $467 Million $323 Million $309 Million 44.0%
Aggregate Income per Acre $297,667 - - -
% Informal Economy 5.40% - - -
MARKET STABILITY
% Owner Occupancy - Unit 41.2% 55.0% 54.1% -
% Owner Occupancy - Bldg 83.4% - - -
Median Home Sale Value $95,800 $97,761 $80,393 -2.0%
New Construction Units ('02-'06) 6 0.8 Per 1K Household
Residential Rehab Permits 27.7 Per 1K Household
Violent Crime 2006 6.5 Per 1K People 32% from '02
Property Crime 2006 46.4 Per 1K People -18% from '02
Community Crime 2006 16.5 Per 1K People -1% from '02
DrillDown Market OverviewWest Price Hill Social Compact
Catalyzing Business Investment in Inner City Neighborhoods
Mayor Mallory and Property Advisors, a Cincinnati based commercial real estate consulting firm, have partnered with Social Compact in the first of a 3-phase study to conduct a DrillDown analysis ofCincinnati, OH, Covington, KY, and Newport, KY, leveraging DrillDown results to inform economic development. Findings from Phase I (analysis of Cincinnati, Covington, & Newport) will inform analyses inPhase II and III, for Hamilton County and the Cincinnati MSA, respectively.
Copyright © 2007 Social Compact Inc.
BUSINESSES Total #Total
RevenueTotal #
Employees
All Businesses 299 $259 Million 1,720 x $2,787 / yr = $5.1 Million
Small Business (Empl. 51 - 100) 5 $4 Million 410
Small Business (Empl. 20 - 50) 11 $47 Million 312
Small Business (Empl. 6 - 19) 49 $62 Million 464
Small Business (Empl. 1 - 5) 117 $34 Million 284
GROCERY DEMAND Total # # per 10K HHAverageDistance
Total Expenditures
TotalLeakage
EstimatedSq. Ft. Potential
All Grocers 3 2.9 - $30.5 Million -
Full Service Grocers Only 0 0.0 0.92mi $30.5M 88,756
FINANCIAL SERVICES Total # # per 10K HH AverageDistance
Banks & Credit Unions 4 3.9 0.46mi
Banks Only 4 3.9 -
Pawnshops, Cashcheckers, Payday Lenders 1 1 -
% of Households lacking credit histories = 37%
RETAIL DEMANDEstimatedRevenue
Estimated Expenditures
EstimatedLeakage
EstimatedSq. Ft. Potential
Retail $. Billion $.1 Billion $98.2Million -
Apparel $1.Million $15.4Million $14.4Million 42,331
Restaurants $11.8Million $22.4Million $10.6Million 45,491
DrillDown Market Overview
West Price Hill
Employee Annual Spending Potential
Social CompactCatalyzing Business Investment in Inner City Neighborhoods
The lack of dependable business-oriented data on inner-city communities expands the information gap on market trends, disabling potential investors from making informed decisions. Social Compact'sNeighborhood Market DrillDown was established to provide up-to-date profiles of market size, strength, and stability for small, dense, and rapidly changing urban geographies. The DrillDown usesnumerous sources of market data to identify the fundamental business attributes and market characteristics of urban communities and aims to expose market anomalies and opportunities that may havepreviously been overlooked by traditional market analyses.
Copyright © 2007 Social Compact Inc.
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DrillDown Market Overview
West Price Hill Social CompactCatalyzing Business Investment in Inner City Neighborhoods
Copy
right
© 2
007
Socia
l Com
pact
Inc.
2007DRILLDOWN
2006Census Trend Proj
2000Census
ComparisonDrillDown/Trend Proj
MARKET SIZE
Total Population 45,520 34,060 36,056 34.0%
Population per Acre 10.2 7.6 8.1 -
Total # Households 21,316 15,933 16,681 34.0%
MARKET STRENGTH
Average Household Income $45,723 $43,621 $40,393 5.0%
Median Household Income $37,806 $37,132 $33,746 2.0%
Aggregate Neighborhood Income $975 Million $695 Million $674 Million 40.0%
Aggregate Income per Acre $218,835 - - -
% Informal Economy 5.30% - - -
MARKET STABILITY
% Owner Occupancy - Unit 33.5% 38.8% 38.9% -
% Owner Occupancy - Bldg 77.6% - - -
Median Home Sale Value $109,750 $112,906 $94,186 -3.0%
New Construction Units ('02-'06) 276 16.5 Per 1K Household
Residential Rehab Permits 23.3 Per 1K Household
Violent Crime 2006 8.0 Per 1K People 58% from '02
Property Crime 2006 60.9 Per 1K People -4% from '02
Community Crime 2006 13.5 Per 1K People 7% from '02
DrillDown Market OverviewWestwood / East Westwood Social Compact
Catalyzing Business Investment in Inner City Neighborhoods
Mayor Mallory and Property Advisors, a Cincinnati based commercial real estate consulting firm, have partnered with Social Compact in the first of a 3-phase study to conduct a DrillDown analysis ofCincinnati, OH, Covington, KY, and Newport, KY, leveraging DrillDown results to inform economic development. Findings from Phase I (analysis of Cincinnati, Covington, & Newport) will inform analyses inPhase II and III, for Hamilton County and the Cincinnati MSA, respectively.
Copyright © 2007 Social Compact Inc.
BUSINESSES Total #Total
RevenueTotal #
Employees
All Businesses 872 $1,418 Million 9,840 x $2,787 / yr = $29.1 Million
Small Business (Empl. 51 - 100) 20 $193 Million 1,396
Small Business (Empl. 20 - 50) 65 $226 Million 1,962
Small Business (Empl. 6 - 19) 180 $234 Million 1,807
Small Business (Empl. 1 - 5) 395 $171 Million 1,068
GROCERY DEMAND Total # # per 10K HHAverageDistance
Total Expenditures
TotalLeakage
EstimatedSq. Ft. Potential
All Grocers 11 5.2 - $63.3 Million -
Full Service Grocers Only 5 2.3 0.72mi -$74.4M -216,954
FINANCIAL SERVICES Total # # per 10K HH AverageDistance
Banks & Credit Unions 17 4.7 0.59mi
Banks Only 10 8 -
Pawnshops, Cashcheckers, Payday Lenders 8 3.8 -
% of Households lacking credit histories = 32%
RETAIL DEMANDEstimatedRevenue
Estimated Expenditures
EstimatedLeakage
EstimatedSq. Ft. Potential
Retail $.5 Billion $.3 Billion $.Million -
Apparel $22.6Million $32.1Million $9.5Million 28,022
Restaurants $47.6Million $46.5Million $.Million -4,875
DrillDown Market Overview
Westwood / East Westwood
Employee Annual Spending Potential
Social CompactCatalyzing Business Investment in Inner City Neighborhoods
The lack of dependable business-oriented data on inner-city communities expands the information gap on market trends, disabling potential investors from making informed decisions. Social Compact'sNeighborhood Market DrillDown was established to provide up-to-date profiles of market size, strength, and stability for small, dense, and rapidly changing urban geographies. The DrillDown usesnumerous sources of market data to identify the fundamental business attributes and market characteristics of urban communities and aims to expose market anomalies and opportunities that may havepreviously been overlooked by traditional market analyses.
Copyright © 2007 Social Compact Inc.
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DrillDown Market Overview
Westwood / East Westwood Social CompactCatalyzing Business Investment in Inner City Neighborhoods
Copy
right
© 2
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Socia
l Com
pact
Inc.
2007DRILLDOWN
2006Census Trend Proj
2000Census
ComparisonDrillDown/Trend Proj
MARKET SIZE
Total Population 5,523 5,247 5,375 5.0%
Population per Acre 3.5 3.3 3.4 -
Total # Households 2,141 2,037 2,032 5.0%
MARKET STRENGTH
Average Household Income $22,950 $22,426 $20,459 2.0%
Median Household Income $11,498 $12,734 $12,215 -10.0%
Aggregate Neighborhood Income $49 Million $46 Million $42 Million 8.0%
Aggregate Income per Acre $30,743 - - -
% Informal Economy 4.90% - - -
MARKET STABILITY
% Owner Occupancy - Unit 7.1% 6.6% 6.6% -
% Owner Occupancy - Bldg 10.2% - - -
Median Home Sale Value $80,000 $118,314 $95,900 -32.0%
New Construction Units ('02-'06) 0 0.0 Per 1K Household
Residential Rehab Permits 118.6 Per 1K Household
Violent Crime 2006 17.1 Per 1K People 35% from '02
Property Crime 2006 54.7 Per 1K People -26% from '02
Community Crime 2006 32.6 Per 1K People -13% from '02
DrillDown Market OverviewWinton Hills Social Compact
Catalyzing Business Investment in Inner City Neighborhoods
Mayor Mallory and Property Advisors, a Cincinnati based commercial real estate consulting firm, have partnered with Social Compact in the first of a 3-phase study to conduct a DrillDown analysis ofCincinnati, OH, Covington, KY, and Newport, KY, leveraging DrillDown results to inform economic development. Findings from Phase I (analysis of Cincinnati, Covington, & Newport) will inform analyses inPhase II and III, for Hamilton County and the Cincinnati MSA, respectively.
Copyright © 2007 Social Compact Inc.
BUSINESSES Total #Total
RevenueTotal #
Employees
All Businesses 92 $238 Million 1,778 x $2,787 / yr = $5.3 Million
Small Business (Empl. 51 - 100) 5 $28 Million 335
Small Business (Empl. 20 - 50) 14 $114 Million 508
Small Business (Empl. 6 - 19) 20 $40 Million 202
Small Business (Empl. 1 - 5) 24 $10 Million 73
GROCERY DEMAND Total # # per 10K HHAverageDistance
Total Expenditures
TotalLeakage
EstimatedSq. Ft. Potential
All Grocers 1 4.7 - $5. Million -
Full Service Grocers Only 0 0.0 2.05mi $5.M 14,491
FINANCIAL SERVICES Total # # per 10K HH AverageDistance
Banks & Credit Unions 2 4.7 0.3mi
Banks Only 1 9.3 -
Pawnshops, Cashcheckers, Payday Lenders 0 0 -
% of Households lacking credit histories = 19%
RETAIL DEMANDEstimatedRevenue
Estimated Expenditures
EstimatedLeakage
EstimatedSq. Ft. Potential
Retail $. Billion $. Billion $12.Million -
Apparel $.7Million $2.2Million $1.5Million 4,498
Restaurants $.Million $3.1Million $3.1Million 13,334
DrillDown Market Overview
Winton Hills
Employee Annual Spending Potential
Social CompactCatalyzing Business Investment in Inner City Neighborhoods
The lack of dependable business-oriented data on inner-city communities expands the information gap on market trends, disabling potential investors from making informed decisions. Social Compact'sNeighborhood Market DrillDown was established to provide up-to-date profiles of market size, strength, and stability for small, dense, and rapidly changing urban geographies. The DrillDown usesnumerous sources of market data to identify the fundamental business attributes and market characteristics of urban communities and aims to expose market anomalies and opportunities that may havepreviously been overlooked by traditional market analyses.
Copyright © 2007 Social Compact Inc.
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DrillDown Market Overview
Winton Hills Social CompactCatalyzing Business Investment in Inner City Neighborhoods
Copy
right
© 2
007
Socia
l Com
pact
Inc.
Cincinnati Social Compact
Catalyzing Business Investment in Inner City Neighborhoods
SOCIAL COMPACT is a national not-for-profit corporation led by a board of business leaders whose mission is to help strengthen neighborhoods by stimulating private market investment in underservedcommunities. Social Compact accomplishes this through its Neighborhood Market DrillDown analytic tool, developed to address some of the key barriers to private investment in and around inner-cityneighborhoods – a lack of dependable market information and negative stereotypes. The DrillDown serves as a resource to community organizations, government decision makers and the private sector.Social Compact is at the forefront of identifying the market potential of underserved neighborhoods and believes that a public private partnership that involves community members and leverages privateinvestment isthe most sustainable form of community economic development.
HOUSING UNITS, POPULATION, HOUSEHOLDS: The DrillDown assembles a list of residential addresses frommunicipal and proprietary tax assessment records, municipal building permit records, utility hookups, and creditbureau records. Households, or occupied units, are determined by multiplying the total number of residentialaddresses by the vacancy rate, determined through analysis of utility usage records, at the block group level. Totalpopulation is calculated by multiplying the number of households by the average household size and adding thisnumber to the population in group quarters. Average household size and population in group quarters is providedat the block group level by the most recent census trend projections.
INCOME: Unadjusted household income estimates are derived in a series of calculations. First, a count is made ofthe number of individuals per income bracket, as determined by the three credit bureau income estimates. Then, theaverage income at the block group level is calculated by applying the Bureau of Labor and Statistics ConsumerExpenditure Survey’s estimated average income for individuals within a particular income range (projected from2004 to 2006) to the income distribution determined. The third calculation adjusts the income estimate to accountfor informal economic activity. By weighting the following eight proxies, the DrillDown estimates the monetary valueof unregulated economic activity: household with income below $30,000; difference between household incomeand household expenditures; the percentage of households with no credit record; the percentage of utilitypayments made in cash; the number of nontraditional financial service providers per household and per acre; thedifference between estimated housing costs and real home values; and the percent foreign born population.Median of the income distribution averaged from the three income ranges provided by the credit bureau data.
HOMEOWNERSHIP/OWNER OCCUPANCY: An estimate of the percentage of residential units or buildings wherethe unit or building owner is a resident. Matching the mailing and physical addresses provided by municipal taxassessor records indicates owner occupancy.
MEDIAN HOME SALE VALUE: Median home sale value is calculated using property transaction data fromproperty sales and proprietary and municipal real estate data over an 18 month period.
BUILDING RECORDS: New construction and rehabilitation (additions, alterations, repairs) is assessed usingmunicipal building permit records for the period of time between January 2002 and December 2006.
CRIME: Social Compact examines crime data at the block group level, as part of its neighborhood risk andstability analysis. Crime statistics, obtained from local police records, are gathered longitudinally to assess trendsin documented criminal activity over time. In order to maintain consistency across comparisons of time andgeography, Social Compact uses population and household counts from Census 2000 and not current DrillDownestimates; and employs the Federal Bureau of Investigation’s (FBI) Uniform Criminal Reporting (UCR) coding todefine property and violent crime. Unless otherwise stated, trends are reported for the start of the earliest yearthrough the end of the latest year for which data was obtained (i.e. “2002 – 2005” is equivalent to January 12002 – December 31 2005). Property crime includes reported incidents of arson, burglary, larceny/theft, andmotor vehicle theft (in accordance with FBI UCR coding).
CRIME CON'T: Violent crime includes reported incidents of murder, forcible rape, robbery, and aggravatedassault (in accordance with FBI UCR coding). includes reported incidents of blighted properties, disorderly conduct,littering, loitering, prostitution, trespassing and vandalism. Social Compact designed this indicator to assess visibleincidents of crime that, although not typically included in many official crime statistics, may be of particularinterest to the business community.
HOUSEHOLDS WITH NO CREDIT RECORDS: A proxy for underbanked households, a percentage of householdswithout any associated record in any of the three credit bureaus.
AGGREGATE EXPENDITURES: Through an analysis of average consumer spending by income ranges based onthe most recent Consumer Expenditure Survey conducted by the Bureau of Labor and Statistics, Social Compactcalculates aggregate consumer expenditures (retail and otherwise). The Consumer Expenditure Survey categoriesare then translated into North American Industry Classification System (NAICS) codes.
REVENUE: An estimate of annual sales revenue derived through an analysis of business-level proprietary data,characterized for various NAICS codes.
NEIGHBORHOOD LEAKAGE: An estimate derived through subtracting annual sales revenue from annualaggregate expenditures; a dollar amount that represents unmet demand within a given geography, estimatingthe flow into and out of a particular neighborhood.
BUSINESS: Businesses are categorized according to employment size and age. Small businesses are categorizedbased on employment size of 50 or less. Worker spending based on International Council of Shopping Centersoffice worker spending (2004). Distances are calculated from the blockgroup centroid to the nearestestablishment within city limits.
FINANCIAL INSTITUTIONS: Traditional financial institutions include banks and credit unions; Nontraditionalfinancial institutions include check cashers, pawnshops and payday lenders; based on listings provided by theFederal Deposit Insurance Corporation (FDIC), 2007.
GROCERY ANALYSIS: DrillDown analysis of grocery providers is based on the following three categories: (1)national/regional chain grocers; (2) smaller grocers, including local, independent, fresh vegetable markets, ethnicmarkets; and (3) all grocers, including establishments identified as grocery stores and supermarkets according toNAICS; derived from business-level proprietary data.
SOURCES: Acxiom Corporation, 2006; Claritas, 2006; Equifax Corporation, 2006; Experian Corporation, 2006;Federal Deposit Insurance Corporation, 2007; First American Real Estate Information Services Inc, 2006; Info USA,2006; Social Compact Analysis, 2006; U.S. Census Bureau, Census 2000; U.S. Department of Labor, 2004;Consumer Expenditure Survey 2004; City of Cincinnati municipal data.
DrillDown Glossary & Sources
Copyright © 2007 Social Compact Inc.