St. Charles Case Study

Satisfactory Essays
The City of St. Charles is at crossroads road in its development cycle. After years of steady suburban “greenfield” development, construction activity has decreased as St. Charles reaches its ultimate build-out potential. In the last 15 years there has been a substantial increase of competing commercial development outside of the City’s corporate limits; particularly, on the Randall Road Corridor. Over the same time period there has been a lack of residential development in St. Charles and surrounding communities. This combination of increased competition, static residential development, changing retail dynamics (online shopping), and the economic downturn during the “Great Recession” has affected the trade area’s vacancy rates and demand…show more content…
The consultant will be tasked with analyzing the existing commercial and office space demand in conjunction with existing trade area demographics to determine the amount of commercial square footage the trade area can support. Upon completion of the market analysis, the consultant shall identify the ideal trade area tenant mix, and/or suggested land uses for redevelopment. This study will be used to provide a base understanding of the trade area and strategic direction to encourage filling vacancies, re-use, or redevelopment of properties. To determine the true viability of St. Charles’ commercial market the City is looking to develop a better understanding of all 3 Micro-Trade areas that are classified as the East Gateway, Downtown, and West Gateway. We would like to have the selected consultant examine the following for each Micro-Trade Area: • Evaluation of the 3 existing Micro-Trade areas including types of businesses captured, vacancy rates, deficiencies, and a gap analysis. This should include a summary of who are the typical St. Charles shoppers and basic demographic
Get Access