downtown waterloo project

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DOWNTOWN WATERLOO PROJECT

A Rebranding Strategy | Jeffrey Crawford, Brooke Gewecke, Corey

Black and Erin Hiatt


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Table of Contents

Executive Summary.Page 3

Introduction..Page 4

Statement of Problem...Page 4

Scope and Limitations..Page 5

Sources and MethodsPage 5

Definitions.Page 6

Report Organization..Page 7

Body..Page 8

ResearchPage 8

Main Problem......Page 12

Recommendations...Page 13

Budget..Page 38

Conclusions and Recommendations...Page 42

Bibliography....Page 43

Appendix.... A-I

Inventory.Attachment

Website DesignAttachment


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Executive Summary

This paper represents the research, analysis, and recommendations put forth by our

team to provide Main Street Waterloo with the most effective plan of action. Objectives that

we were presented with included an updated inventory of available storefronts and office

space, research of the typical retail mix in similar downtown areas, survey downtown workers

and visitors, make recommendations on a number of things, and also provide an outline of

financial incentives that may be necessary to attract businesses to the area.

After conducting research into the current state of Downtown Waterloo, successful

revitalization projects, and the main problems currently facing Main Street Waterloo, our team

came to the conclusion that the best course of action would be a rebranding campaign for Main

Street Waterloo. Steps to achieving Main Street Waterloos goal of the revitalization of

Downtown Waterloo are presented in the paper with support as to why specific steps should be

taken.

Our belief is that by following the recommendations provided, Main Street Waterloo can

move forward with their efforts to successfully revitalize Downtown Waterloo, making it a

thriving and inviting community.


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IntroductionStatement of Problem

The main goal that our client wanted us to accomplish was of greater scope then we could

have predicted. They wanted us to update inventory of available storefronts and office space,

research the typical retail mix in similar downtown areas, survey downtown workers and visitors,

make recommendations on a number of things, and also provide an outline of financial

incentives that may be necessary to attract businesses. In summary, committee members wanted

our group to research existing businesses to figure out what was successful and steps on how to

get entrepreneurs to want to invest in Main Street Waterloo.

However, we decided, with our limited time and resources, that the first step Main Street

Waterloo needed to take was a rebranding strategy. The purpose of a rebranding strategy is to

combat any negative perceptions by communicating a new positive message. We strongly

believe that in order for Main Street Waterloo to begin the recruitment process, they need to first

rebrand. Many potential investors would not want to invest in Waterloo right now. There are

negative perceptions and high business turnover rates evident through the amount of vacant store

fronts. Revamping the whole look of Main Street would be a huge step prior to recruitment.

After we determined the rebranding part of the project, we decided to keep researching

and keep adding the whole project. Everything that the committee asked for, we were able to do

in the end. By keeping up with the project and setting internal deadlines, we successfully

completed everything that was suggested.


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Body

Research

Downtown Waterloo and Main Street Waterloo

Older commercial districts across the country began to decay and lose their role as the

center of their community in the mid 1970s. The National Trust for Historic Preservation created

in 1975 a program for not only Main Street Waterloo, but Main Streets across the nation to help

with the decline in the economy. The purpose behind this program was to save the heritage and

character of the Main Street and to also help revive the economy. Through the approach that the

National Trust for Historic Preservation took, the concept allowed for new development that was

compatible with existing downtown physical environment. A community was able to re-

establish its self-reliance and rebuild its downtown based on traditional assets such as: personal

service, local ownership, unique architecture and sense of community.

Main Street Waterloo is a partner with the Main Street Iowa program. This program

includes 33 Iowa downtowns and works to strengthen the overall social and economic health of

their central business districts as the community focal point and center of activity. Waterloo

became a Main Street community in 1996 and receives funding from donations, rents collected,

grants, sponsorships and revenue from events. This program believes in a four point approach

(Business and Community Services, 2013).

This approach begins first with design. Design involves improving the visual quality of

the downtown area to make the entire district more attractive and appealing to the public eye.

The second approach is economic restructuring. According to the Main Street Waterloo website

this approach is designed to, "enhance the overall economic vitality by strengthening and


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diversifying the business base of the entire downtown area. This council also manages the

properties owned by Main Street Waterloo and reviews lease and sale proposals to insure that

these properties will be properly developed and that their development will compliment the

entire downtown area." (Business and Community Services, 2013) Marketing and Promotion is

the third aspect of this four point approach which involves creating special events and image

building events to enhance the economic success of the downtown businesses. Lastly,

organization is the last aspect which involves bringing many diverse groups together to work

towards the growth and revitalization of the downtown area.

Demographics

The United States Census Bureau provided a vast array of statistical information on the

demographics of Waterloo. This information can be used to gain an understanding of the

characteristics of individuals and environment of a given area. The following are the key

statistics derived from this research:

The total population of Waterloo is 68,406. The median age is 36 years old. 80% of the

population is white and the other 20% is made up of African Americans, Hispanics, and Asians.

8% of Waterloos citizens are currently unemployed. The average amount of time it takes

someone to get to work in Waterloo is about 15 minutes. The median income for a household in

Waterloo is around $40,000. In summary, Waterloo consists of a relatively young and growing

population that works relatively close to home. With a relatively low unemployment rate and an

average household income of around $40,000, there are many individuals residing in Waterloo

with disposable income that new businesses could capitalize on. All of these statistics are


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important for Main Street Waterloo to take in to consideration when it comes to advertising and

recruiting aspiring entrepreneurs (See Appendix A for Demographics).

It is important when considering key demographics of the area to include the crime rate

of Waterloo. The high crime rates of the Waterloo area are harming the image and public

perception of the area. According to Area Vibes, the crime index in Waterloo is 47% higher than

the Iowa average crime rate (Area Vibes, 2013). Although these statistics are misleading, they

do much harm in the public eye as they only see that crime is higher in Waterloo than throughout

the rest of Iowa. This issue needs to be addressed to promote that the Main Street area in

Waterloo is a safe place for families and individuals alike to come and spend time in the

downtown area (See Appendix B for Crime Rates in Waterloo).

Analysis of Main Street Waterloo

Main Street Waterloo has strengths that helped contribute to their success thus far. A

major strength is that they are located in an already existing community that is family oriented.

Many young individuals travel to the Cedar Valley to raise a family. Main Street Waterloo

already has well-established businesses such as the Screaming Eagle and Jamesons that gives

them a good name in the community. Another strength of Main Street Waterloo is the various

new attractions such as the John Deere Museum, River Amphitheater, etc.

However, with strengths come weaknesses. Currently, Main Street Waterloo has a large

amount of empty storefronts that make the appearance of the street look unwelcoming. There is

also a lack promotion of events that would draw the community in and get them more involved.

In addition, a wider variety of events to capture multiple target markets is needed. Main Street

Waterloo also does not have well-organized transportation system that allows citizens different


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and more inexpensive options of travel. The strengths and weaknesses of Main Street Waterloo

present them with opportunities and threats too.

Opportunities for Main Street Waterloo are endless. To name a few, Main Street

Waterloo could provide various businesses spaces for incubators to help the development of new

businesses, they could provide the availability of newly renovated apartments, and they could

also provide a shuttle that ran between Cedar Falls and Waterloo on the weekends to get more of

the college crowd. Threats that Main Street Waterloo is presented with would be negative

perceptions of Waterloo, sustaining new businesses in an area that has a high turnover rate, and

also competition from Cedar Falls Main Street. (See Appendix C for Analysis)

The Main Street Waterloo has had several accomplishments over the past year. In 2012,

they were able to improve the Riverfront, dam, trails, Riverloop Amphitheater, and the John

Deer Museum. They have also successfully addressed organizational and budge issues which

has made them far stronger financially and closer to being debt-free. In addition, they held

various events such as FridayLoo, My Waterloo Days, and the Irish Fest. The Main Street

Program has been successful in two instances with entrepreneurs that have been successful in

Waterloo. They have improved the imagery of Main Street Waterloo by maintaining flowers,

historic atmosphere, and signage and product development. Using this pre-existing data that the

Main Street Program has created will help guide them with the new suggested plan of action (See

Appendix D for Information on Main Street Waterloo).


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Main Problem

The first and most significant issue identified with Waterloo is its negative perception by

the public. One of the main issues resulting in this reputation is the perception that area is

dangerous due to the high crime rate statistic of recent years in the area. Although these numbers

are skewed as most of the crime occurs in a very small section of Waterloo, the numbers give the

area a bad perception. Because of this perception, many people do not visit the area at all, and

those who do visit are not always attracted back to the area. One of the possible causes to this

reputation, are the unoccupied storefronts, which detract from the attractiveness of the area. The

storefronts that are occupied and well kept are overlooked when they are surrounded by vacant

and unattractive storefronts.

In addition, issues that create this perception include the lack of parking and

transportation in Downtown Waterloo, coordinated events and lack of entrepreneurial support.

Parking and transportation difficulties are harmful as it can prevent many potential customers

from making an effort to visit the area, as they are uneasy about driving and finding a parking

spot. Again, the lack of transportation once you arrive downtown lessens the appeal of spending

time in the area. After arriving, it can be difficult to get around.

The lack of coordinated events that satisfy a more diverse array of target markets is also a

significant problem. Currently, listed on the Main Street Waterloo website, there are only a few

events listed from now throughout the month of July. All of these events are essentially the same

thing, being the Fridayloo event. Fridayloo offers the opportunity for people to come and listen

to a live band and drink on Friday evenings. This only captures and serves one select target

market. These types of events do not draw families looking to spend time together as they

typically draw those individuals looking to drink and listen to music.


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The final issue is the lack of support for entrepreneurial endeavors. With not much

support from current businesses and few incubator options, potential entrepreneurs are not as

inclined to start their new ventures in Downtown Waterloo.

Recommendations

After establishing the main issues that Main Street Waterloo is currently struggling with,

it was solidified that there was a major need for a rebranding campaign of Downtown Waterloo.

A rebranding campaign means combating any negative perceptions and moving the brand up-

market by communicating a new, positive message. This area needs to be promoted as a safe,

enjoyable place for families and customers to visit, eat, shop, etc. All of the recommendations

provided are based around rebranding Main Street Waterloo in a way that will restore their

image and build a wider and larger customer base. Following are recommendations for a

rebranding campaign, comprised of suggestions and practical steps.

Target Market

In order for Downtown Waterloo to grow into a potential thriving area, it is necessary to

attract new target audiences to the area. There are two categories of the desired market that need

to be considered. First is the desired market consisting of people that will move to Downtown

Waterloo and live in one of the many second floor apartments being constructed. The second

category consists of adults 28-50 who will visit Downtown Waterloo, but will not live there.

The rebranding will give Downtown Waterloo a very urban and creative feel reminiscent

of a larger city. This rebranding coincides with the construction of modern residences to

encourage the desired group of people to live in Downtown Waterloo. Young professionals ages


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23 to 35 should be targeted to live downtown. They will be targeted because they are less likely

to have a large family and a need for amenities that living downtown cannot offer, such as a

large yard and quiet neighborhood in which to raise kids. Instead these young people require

cultural events, interesting restaurants, and unique entertainment options such as concerts and

bars. These young professionals will likely visit downtown restaurants and businesses keeping

their economic impact within the area.

Waterloo can offer a lower cost of living for young professionals who are struggling with

student debt and the increasingly competitive job market. Young professionals who are able to

spend money on entertainment options such as art shows and concerts will bring artists to the

area, thereby creating the culture that is reflected in the proposed rebranding process.

A secondary market in this category is made up of adults 55+, who are retired, have

grown kids, or want to downsize. They will be able to rent or buy luxury apartments downtown.

These apartments offer the appropriate amount of space for two adults while offering lower

maintenance than may be associated with a large home. These adults will ideally have a distinct

interest in cultural events and will also drive the need for unique events in the area. Having

enough wealth to visit premium restaurants and retail shops in the downtown area will help

better the economy.

The second category that needs to be targeted is adults 28-50 who are married and/or

have children. These people will likely live in residential neighborhoods around Waterloo and

Cedar Falls. In an ideal situation, families would commute to the Downtown Waterloo area to

take part in family events during the day, visit the retail businesses to shop, eat lunch at one of

the restaurants, and then return to their homes. The key to drive this desired market to the area is

to communicate to them that their commute is worth their time and money.


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Drawing more Visitors to Downtown Waterloo

With all of the new completed projects in the Waterloo area such as the John Deere

Museum and the River Amphitheater would be convenient for potential visitors to be able to

utilize a trolley to travel to and around Downtown Waterloo. A trolley system could connect the

entire area, transporting visitors from the major attractions to stops, such as restaurants, shopping

areas, bars, etc. In the informal survey conducted of UNI students and other target market

individuals 90% of those surveyed stated that they would be more inclined to visit Downtown

Waterloo if there was a convenient and safe transportation, such as a trolley system (See

Appendix E for Survey Results). Along with the survey, research of Des Moiness downtown,

Historic East Village, was conducted to get an example of what is successful in a revitalized and

successful city.

In 2000, the City of Des Moines slated several buildings in the neighborhood for

demolition. However, a dedicated group of individuals came together to advocate saving the

buildings. Many of them stand today and are home to hip eateries, boutiques and loft-style

housing. This is essentially the same situation facing downtown Waterloo. The old buildings

that have a great sense of historic culture need renovation and a new emphasis on culture.

In speaking with the Justin Garrett, President of the Historic East Village (HEV)

committee, he gave a sense of how he and several other members went about completing the

HEV project. The first major public infrastructure project was the East Locust Streetscape

Project. According the website dedicated to projects of Downtown Des Moines, the project was

described by Garrett as "a complete overhaul of East Village's main street streetscape which

included new sidewalk paving, brick crosswalks and sidewalk adornments, benches, light

fixtures and other street furniture. The street was converted to a two-way street, with traffic


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calming improvements and heavy landscaping improvements. Ninety-nine engraved stones line

the sidewalks up to State Capitol, with each stone listing the name and county seat of all of

Iowa's counties" (Garrett and Moffatt, 2009). Essentially, they aimed to enhance the visual

aspects of the area to make it look much more appealing to the public. This kicked off several

private investment projects, including the SOHO Building.

HEV has continued to evolve through the investment of private and public funds. Garret

stated that it was important to note there wasnt agrand master plan that leads this project, it

was an organic evolution. This statement is important to keep in mind as Main Street Waterloo

continues to try to revitalize. It is best to continually evaluate, change, and adopt new strategies

throughout the entire process.

Just as with a company marketing its products to a target market, a downtown area must

also be constantly evaluating and adapting to meet the needs of its customers and target market

which are constantly changing and evolving. This is one area where Main Street Waterloo has

lacked a general focus inin adapting to a new target market. The HEV has done an excellent

job of identifying the needs of its target market as it has produced the right mix of businesses to

satisfy the target market and make them very successful. They continue to stay active and visible

within their community all-year round.

Another factor that has contributed to HEVs success is their well-designed simplistic

website.1HEV communicates recent news and events to their customers via their website. By

continually providing themselves opportunities to stay in touch with their current needs,

problems to address, and opinions of the general public as well as local businesses, they are able

to adapt to the changing environment. Reconstructing the Main Street Waterloo website needs to

1For further information on the style and layout, consult the HEV website athttp://eastvillagedesmoines.com/.
http://eastvillagedesmoines.com/http://eastvillagedesmoines.com/


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be a priority for the downtown committee to stay more in touch with current demands and

opinions. The mock website that was developed is a much more modern simplistic site that will

allow customers to view all businesses in the area and descriptions of what each business has to

offer as well as contact information (see the website design packet in the back of the appendix).

Drawing more visitors to Main Street Waterloo can be accomplished by holding family

focused events to appeal to a larger and more diverse target market. These events, in turn, will

begin to change the perception that the area is unsafe and dangerous. These events will also keep

people coming back to the area as they explore the various businesses and attractions of

Downtown Waterloo. The need for more events stems from the perception that there is simply

not enough to do in the downtown area aside from eating at restaurants or visiting various shops.

Events need to be centered on bringing in large amounts of people through promoting the new

attractions such as the John Deere Museum, Amphitheater, The Grout Museum District and the

new sports facility.

A kickoff event would be a great way to introduce the rebranding of Main Street

Waterloo without a declaration of, We are rebranding. An event would help generate

excitement amongst not only Waterloo residents but also in the Cedar Valley community as a

whole. The goal of the event would be to make the targeted public more knowledgeable about

what Downtown Waterloo has to offer and to promote available spaces to purchase or rent to

prospective business owners.

There are key steps that need to be taken to create a successful event that will further lead

to a profitable and growing district. An example of an event created for the area is entitled,

Restore and Rejuvenate, promoting Downtown Waterloos current businesses, business

opportunities, and the reputation of the district. Creating events such as theRestore and


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Rejuvenate event is very important for Main Street Waterloo (See Appendix F for Event Details).

Events create excitement throughout surrounding communities and will drive people to the area.

If Main Street Waterloo is able to encourage word-of-mouth referrals from visitors about what is

offered, entrepreneurs are going to be interested in developing their businesses in this area. First

time visitors will also be more inclined to return if the event was safe and executed well. Another

example of an event that Main Street Waterloo could put on would be a Bike Tour around the

Cedar Valley ending in a street carnival in Downtown Waterloo.

Entrepreneurial Development

The key to creating a successful business incubator program in Downtown Waterloo is to

focus much of the time and energy, at least in the beginning stages, to recruiting hopeful

entrepreneurs from outside of Waterloo to come to the area to start their venture. This cannot be

a passive activity in which the team waits for entrepreneurs with ideas to walk through the door

with interest. This could involve the Head of Entrepreneurial Development in his/her duties in

that role, attending entrepreneurial events around Iowa. Speaking with entrepreneurs with ideas

and explaining to them why Waterloo is the best place to start a company. Another crucial

element in the success of the incubators will be community involvement. Encouraging successful

entrepreneurs to mentor the tenants in each incubator will only yield more successes. Successful

entrepreneurs from the area may even find a venture in which they would like to invest in

financially. A pitch-day could be held every year for this purpose. It is recommended that

Main Street Waterloo becomes a member of the National Business Incubator Association which

would add valuable support for the program.


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Staffing Suggestions

Attracting and developing successful businesses to the Downtown Waterloo area begins

by creating a position and naming a Head of Entrepreneurial Development. This role will be

the engine of entrepreneurial change for Downtown Waterloo. This person can be someone who

already is involved or working with Main Street Waterloo or they can be someone who is

recruited or hired to the position. By whichever means the person is acquired, the role is to be

given the monumental responsibility of rebuilding the Main Street Business District. This role

includes the following specific responsibilities:

Serving as a liaison between businesses in Downtown Waterloo and the local government

Developing a diverse network with the current business owners in Waterloo as well as inthe entrepreneurial community

Identifying what incentives can be offered in order to attract start-up or small businesses Attending entrepreneurial events state-wide in order to connect with entrepreneurs Communicate with current and prospective entrepreneurs to develop and understanding

of their needs and what Main Street Waterloo can offer to satisfy these needs.

Attracting successful entrepreneurs from Iowa or elsewhere to get involved in the variousentrepreneurial incubators and co-working spaces as advisors & mentors.

Generally make Waterloo the most welcoming and nurturing environments forentrepreneurship in Iowa and the region.

Identifying the responsibilities of the Head of Entrepreneurial Development is a crucial

step in selecting the right candidate. The background and previous experiences of the person who

will fill this role is arguably just as crucial. The ideal candidate for this position will be an


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entrepreneur at heart not a policy maker. They will have had some combination of knowledge

and experience in the following:

Previously has founded, helped to found, or played a crucial role in the earlydevelopment of a start-up business.

Has attending entrepreneurial development events or entrepreneurial networking eventsand is familiar with the culture surrounding them.

Is an innovative thinker and is able to provide examples of when they have done so. Is an active member of the community in which they currently reside in any capacity. Has great familiarity with the Waterloo/Cedar Falls area. Not required but a significant

advantage.

Has the unique ability to inspire a group of individuals to collaborate and createinnovative solutions in order to accomplish a goal.

Can think in terms of long-term outcomes and think through complex and sophisticatedproblems.

Has the desire and ability to commit wholeheartedly, including sufficient time, to thisrole.

In order to begin the implementation of the rest of the entrepreneurial development plan,

the Head of Entrepreneurial development will have to be identified or hired. If this person is

going to be given the responsibility of developing the Downtown Waterloo area into a hub of

entrepreneurship in Iowa, they must be allowed to place the first few building blocks on the

ground floor. Thus finding the right person to fill this role is the first step in the process.


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New Venture Opportunities

Incubator

According to the National Business Incubation Association, Business incubation is a

business support process that accelerates the successful development of start-up and fledgling

companies by providing entrepreneurs with an array of targeted resources and services.

Generally speaking, business incubators support, assist, and teach people in a range of stages of

entrepreneurship with the intention of producing successful businesses in the community/region.

The following are statistics from the NBIA on the impacts of business incubators in a city

(NBIA):

According to an Economic Development Administration study, business incubatorscreate new jobs at the lowest cost to the government.

For every $10,000 of EDA funds invested, 47-69 local jobs are created There are 1250 incubators in the United States as of October 2012 For every $1 of subsidy provided, incubators product $30 of tax revenue 84% of incubator graduates stay in their communities

Based upon the NBIAs research, business incubators have the potential to create a

number of successful businesses in the Downtown Waterloo area. That is why the first leg of the

entrepreneurial development plan is to create a number of incubators in different categories such

as restaurant/food, retail, and technology. Each niche incubator will share the support staff as to

make the operation more efficient. Then each of the three will have their own sites or office

spaces from which to operate.

Business incubators are not a guaranteed success though. The NBIA cautions incubator

developers that they are not the only solution to economic redevelopment. They should be a part


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of a larger economic development project. The following are a selected few of the guidelines for

creating a successful incubator from the NBIA.

Come to a consensus mission that defines the incubators role in the community Create a realistic financial and business plan for the incubator. Where will funding come

from?

Recruit and appropriately compensate management capable of achieving the mission Seek to integrate the incubator program and activities into the fabric of the community

The two niche incubators proposed are restaurant/food and retail. The key is to utilize

infrastructure already in place to create these. A retail incubator space can be better developed

and expanded from the 212 East 4th location to include larger retail booths. These are permanent

individual spaces that tenants can build up and brand themselves. Similar to the New Bo Market

just opened in Cedar Rapids, Iowa, each space will be open for a set schedule every Thursday &

Friday evenings, and Saturday & Sunday mornings/afternoons. A lot of the support for this retail

incubator is already in place. It just needs to be updated to be more visually appealing and have

more accessible hours. Entrepreneurs who have successful shops on Cedar Falls main street

district could form a competition in which both parties benefit each other.

The restaurant/food incubator is where the most investment is needed. The vision for a

restaurant/food incubator is to create a commercial kitchen space and an eating area in which

hopeful entrepreneurs can have access to facilities, which allow for testing ideas and concepts.

This would be an especially valuable as there are not currently any restaurant incubators in the

state of Iowa. At Michigan State University, the School of Hospitality Business created a concept

restaurant incubator, which provided very small spaces to a number of students to test out their


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ideas and to sell food to students, staff, and the public. One student in the incubator said, many

of us have great ideas and want to try, but the costs are intimidating (Elsworth).

The commercial kitchen area would allow people to rent out time to come in and create

small test batches of cookies for example. They could then package and sell these cookies at the

retail incubator, River Loop Coop, or in the community because they were baked in a

commercial kitchen. At night restaurant incubator tenants who have been developing their

concepts with mentor restaurateurs can serve up their concept to the public. Should the public

react well to the concept the tenant could move to a full space next door, or anywhere on 4th

street.

Co-working Spaces

Co-working spaces are very similar to incubators in the fact that they offer a low-cost

way to work on a venture. The difference is that co-working spaces dont have a management

staff to help members with their businesses. Instead it is an open area in which various ventures

have desk space rented on a day-by-day or month-by-month basis. The concept is to bring many

ventures together in one place to promote collaboration and networking between themselves. The

space is privately funded and membership fees generate revenue. This model is much simpler to

execute when compared to incubators. However in this specific entrepreneurial development

plan for the Downtown Waterloo, co-working spaces and incubators could work together to

collaborate and seek advice in an informal environment.

Maker Spaces

Maker spaces are to hardware start-ups what co-working spaces are to software start-ups.

They have a collection of hardware equipment such as 3-D printers, CNC machines, drill

presses, etc. that members can use to create real physical products that would be extremely


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expensive and difficult to prototype the traditional way. There are already over 100 maker spaces

in larger cities throughout the US. The culture surrounding these maker spaces is growing

rapidly (Lahart). For this to be sustainable, a large corporate sponsor such as John Deere would

have to be brought on board to initially fund the construction and set up of the space.

Business Recommendations for Downtown Waterloo

After conducting a thorough inventory of the current businesses and vacant spaces in the

Downtown Waterloo area, we were able to get a detailed list of the current retail mix of the

district and our team has developed many ideas to enhance the area. First, it is important to

understand in order to attract customers to Downtown Waterloo, the new recruited businesses

need to offer something unique and different that customers cannot get anywhere else. Otherwise

there is no reason for your average customer to make a trip to the downtown area (see inventory

packet in the back of the appendix).

During the compilation of open space inventory, there was a very large customer base at

Newton's Cafe restaurant. It was approximately 10:30 a.m on a Saturday morning at the time of

this observation and the restaurant was packed full of customers. Being one of the few

restaurants in the downtown area with a unique feel, Newton's Cafe is able to draw in a large

number of loyal customers. This brings in many potential customers to the Downtown Waterloo

area. Additional restaurants that have a distinct character or feel, such as the "oldies" feel that

Newton's Cafe provides, helps to draw in an even larger loyal customer base. Once customers are

downtown at restaurants like Newton's Cafe, there is not much to keep them around. Other than

the various thrift, music, and art shops, there are no unique retail businesses keeping customers


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shopping in the area. Below are suggested business opportunities the community may want to

further research and consider.

Entertainment Venue

The Blacks Building is a beautiful building with no current purpose. A creative solution

that will not only fill that space, but bring more cultural events to the area is an entertainment

venue. In the Historic East Village district in Des Moines, previously discussed, there is an

entertainment venue called Woolys that attracts hundreds of fans to events year round. There is

an unmet demand, based upon a number of UNI students and other individuals in the target

market surveyed, for new and interesting entertainment options. The first floor of the Blacks

building is a large, open space with plenty of room for a stage, seating, and a bar. By doing only

minor construction, the space could obtain the feel of a vintage concert venue, fitting in with the

desired target market culture. Various concerts, comedy shows, poetry nights, and other

entertainment acts could be brought in throughout the year to fill the venue. Other times it could

be rented out for wedding receptions, parties, and other events that would create additional

revenue. A private party with experience in the entertainment and promotion business would

need to head the operation with private investment.

The issue of the large hood in the rear of the space is a reality that must be addressed. It is

unlikely in the foreseeable future that a restaurant that is capable of utilizing a $250,000

ventilation hood will be coming into that space. It is our recommendation for it to be removed in

order to make the space useable for any potential business.

Micro-Brewery/Restaurant

According to IBIS world, the craft brewing industry is a smaller high-growth segment

of the brewery industry (Kaczaniwska, 2012). As evidenced by the included graphic in


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Appendix G, the industry is experiencing high growth, with a small microbrewery open in

several similar sized cities such as Waterloo. Des Moines has eight currently operating. A

microbrewery could be located on the West side of 4th Street in the retail spaces that are being

renovated. The historic feel of the building will be kept as the backdrop for a microbrewery that

serves a limited selection of specialized food, pizza, for example would draw people in to try the

new beer in a unique locale.

Bakery

Another recommendation for a business in the downtown area is a bakery. Although

Scratch Cupcakery is already a well-established bakery in Cedar Falls and Waterloo, they

specialize only in cupcakes. Johnsons Bakery is a well-established business within the area,

however we feel another special niche bakery such as Scratch would be successful. Due to this

lack of bakeries, a bakery with a historic or "oldies" style would be successful in drawing in

large amounts of customers from around the Cedar Valley. This could easily coincide with the

historic remodeling look that Main Street Waterloo is striving for.

Specialty Seafood

Given the current mix of restaurants offered in the downtown area, a specialty seafood

restaurant is currently lacking. An upscale seafood restaurant would fit well with the target

market of young professionals. This could also draw in many customers from surrounding areas

as there is a lack of high quality seafood restaurants in the Cedar Valley. This type of restaurant

would bring a uniqueness that would bring customers, who may not normally consider going

downtown, a reason to visit.


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Sushi

Another key segment missing is sushi restaurants. Currently, Hibachi Sushi Buffet is the

only sushi restaurant offered in all of Waterloo. In addition, only two sushi restaurants are

offered in Cedar Falls. Providing a new sushi restaurant could help serve a market that is

currently lacking many large competitors. Again, this is a unique restaurant that would help draw

many new customers outside of the downtown area.

Frozen Yogurt

Perhaps one of the biggest areas that is lacking in the downtown area is a dessert shop.

Joining the popular trend with a product such as frozen yogurt. An Orange Leaf or Lemon Tree

style frozen yogurt shop would provide a place for visitors to grab a delicious dessert. This could

help keep customers shopping downtown as they would have another place to have dessert

perhaps after eating dinner elsewhere, or to cater to shopper by providing them with a snack

break and a place to rest. Another benefit of a frozen yogurt shop is its attractiveness to young

children and parents as an enjoyable and healthier treat than traditional ice cream. A shop such as

this fits in well with the goal of increasing family attendance in the downtown area.

Specialty Gift Shops (Glass, Candles etc, Jewelry)

Specialty gift shops are a great way to lure curious shoppers to an area. Ideas for these

include an artistic style blown glass shop where customers can shop for unique abstract glass

items. The downtown district does not currently offer a gift shop of this kind which provides an

opening for a specialty glass shop in the retail market. If the area boasts a blown glass artist, a

viewable workspace could be incorporated into the space, allowing visitors to view the artist

creating pieces. This again would be a unique retail shop that would provide customers with

unique items they cannot find elsewhere. Other specialty gift shop ideas include a candle and


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scent shop selling a variety of unique candles and incense fragrances. This type of shop does not

require a large building to operate, meaning it could either fit in some of the smaller vacant shops

or join another gift shop such as the blown glass shop. A third specialty shop idea is a local artist

art gallery and shop. Given the artistic culture and feel of the area, this would provide a place for

local artist to sell their own work. The gallery could contact the UNI Department of Art and

provide a chance for students to sell their artwork as well, promoting community involvement.

This could help increase student awareness and foot traffic in the downtown area.

Furniture Store

A furniture store that offers contemporary furniture could be extremely successful given

the number of newly renovated apartments that will be available downtown. Young professionals

will need a place to buy furniture for their new apartments and a furniture store with original and

contemporary offerings would fit perfect with the historic downtown style apartments. This

could provide some of the top names in contemporary furniture, as well as lighting and other

accessories. In addition to downtown residents, a contemporary furniture store offering unique

and abstract items would draw in customers from all around the Cedar Valley that are looking for

something different that is not offered by traditional furniture stores such as American or

Homemakers.

Tattoo

Other than one small shop downtown, there is not a large established tattoo parlor

anywhere in the downtown area. As tattoos are becoming increasingly popular with younger

generations, there is certainly a market for which a tattoo artist could capitalize. Attracting a

highly talented tattoo artist would not only fit in with the artistic/urban culture. A tattoo shop

only requires a small/medium size retail space so there would be many vacant options available.


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Tanning

Currently there are no tanning options in the downtown area. Although there are other

options on the outskirts of Waterloo, there is a large area surrounding downtown where there are

no tanning salons present. With the large number of new living spaces available downtown, there

will be a market for people looking utilize this service. A major benefit of a tanning salon is that

it can be opened in conjunction with another business such as a 24-hour fitness facility or it can

be opened as a spa, nail and tanning salon. There are many available options for this as it would

not require a large space to be opened alone or it can be combined with another business.

Recording Studio

Given the artistic culture of the area, a recording studio for young aspiring artists has

large potential for success. There are other businesses in the area that sell instruments but none

that offer a place for an artist to record music. A small recording studio could be opened in a

variety of different locations perhaps. This would not require a large investment and would

provide a unique service to various artists around the Cedar Valley. This could also provide

additional business to some of the smaller concert venues as local artists could perform the tracks

they record.

Movie Theatre

A key segment that is missing from the downtown retail mix is entertainment businesses.

In particular, movie theaters. Currently only an Adult Cinema is available in the downtown area

which serves a very select target market. The recommendation to remedy this missing piece of

the retail mix is to recruit an original style movie theater. The idea is a dine-in movie theater

where customers will be able to eat dinner along with viewing a film. There are no theaters in the

area that offer a service like this and we believe this uniqueness would offer a new experience


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for customers, allowing them more than one form of entertainment that they will not find

anywhere else. The types of films shown could perhaps be Independent/Second-Run Movies. A

key challenge with this business would be finding a suitable space, so it may require construction

of a new building.

Fast Casual Restaurants

The ability for a customer to go to a restaurant and purchase a quality meal quickly has

become an important part of the restaurant industry. These fast casual style restaurants are

frequently visited by work lunch crowds, including the target market of young professionals, due

to the combination of quality and quick service. A traditional restaurant may not be an option on

a traditional lunch hour. Examples of fast casual restaurants are Pancheros, Qdoba, Five Guys

Burgers & Fries, Panera Bread, and Noodles & Company. Currently there are only three

restaurants in which a customer can get a meal quickly; Sub City, Subway, and Boardwalk Deli.

The three current offerings all serve sandwiches. Introducing fast casual restaurants that serve

burgers, burritos, pizzas, pasta, tacos, tacos, and many other styles will draw employees from

John Deere and other businesses in Waterloo to the downtown area for lunch.

Bike Shop

Bike shops offer new and used bicycles for sale as well as accessories, custom fitting

services, and mechanic services. These shops are hub to the local bicycling community and

cyclists are loyal to their local bike shops. The Cedar Valley Lakes Trail runs across 4 th street by

the river that brings a steady stream of bicyclists to the area. Creating a high quality bike shop in

the Main Street Waterloo area similar to Ichi Bike in East Des Moines, or World of Bikes in

Iowa City would create a lifestyle retail business that fits neatly into the new urban brand.

Currently the nearest bike shops are in Bike Tech and Europa Cycle and Ski in Cedar Falls.


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Skate Shop

Skate shops offer a similar range of services as bike shops for skateboards, longboards,

rollerblades, and other extreme sports. Teens and young adults are the biggest market for these

services and the growing longboarding trend has been seen on UNIs campus and the skate park

located in Waterloo. There isnt a skate shop anywhere in the Cedar Falls/Waterloo area, the

nearest being Full KIT in Iowa City. This is an opportunity to meet a market need in the area that

is not currently addressed. An urban stake shop would fit perfectly into the new branding.

Wine & Beer Shop

A high quality Wine & Beer shop offers a range of quality local and imported wines, as

well as a collection of imported and craft beers, liquors and accessories. This appeals to

customers who are interested in consuming unique alcoholic offerings and local artisanal

products. Currently there is one liquor store in the Downtown Waterloo area, but it does not offer

a broad range of products that would appeal to wine & craft beer enthusiasts. The young

professionals that are going to be moving into the apartments will need a place nearby to

purchase alcohol. The urban brand can be applied to this retail business as well. Examples of

similar businesses are Johns Grocery & Sauce in Iowa City, Beer Crazy in Des Moines, and

Benz Beverage Depot in Cedar Rapids.

Antique/Thrift Shop

Secondhand and thrift shops have seen a resurgence in recent years as people look to save

money on household purchases and find authentic and uniquely styled pieces that cannot be

replicated by new items. The antiques and secondhand items that will be carried must be of a

higher quality that Goodwill or St. Vincent De Paul in Cedar Falls would carry. The urban,

creative, and diverse culture of the Main Street Waterloo district along with the rebranding


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campaign fits this type of business and the customers it will attract. Currently there are no retail

businesses that can offer this combination of products in the area.

Clothing Store

A number of mens clothing shops offer a range of clothing styles. Professionals working

& living in the area need a clothing store that can offer suits, ties, and other business professional

clothing. AJ August in Cedar Falls is an example of a mens professional clothing store that

would fit into Downtown Waterloo.

Despite the various clothing shops currently offered downtown, there is a major lack of

contemporary clothing stores that would serve a much younger market. Most of the current

clothing stores downtown are more thrift shop style retail stores that seem to sell items geared

towards an older client. Given the target market of young professionals for new living spaces

downtown, there needs to be a clothing option nearby for younger males and females. Customers

aged 13 to 25 who are interested in the urban culture, need a clothing store that can offer

creatively designed clothes that fit their unique styles. Raygun in the HEV in Des Moines has

grown a large following in this market. Mohair Pair in Cedar Falls also provides a similar

product. There are a two stores currently in the area that sell mens clothing, however they do not

retail professional clothing or creatively designed clothing.

Authentic Mens Barbershop

Mens barber shops offer a unique experience that men have enjoyed for decades. They

offer traditional haircuts as well as a straight-razor beard, mustache, and neck shave. Males aged

21 and up make up the market for these services. Working professionals are also customers of

traditional barbershops. Currently there is one barbershop in the Main Street Waterloo area,

Brothaz Barbershop, which specializes in African-American mens barber services. Offering an


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authentic, return to the basics barbershop experience for a broader range of men, similar to

Fridays in Iowa City, would fit which the new branding and target market.

New York Style Deli & Meat Market

An authentic deli & meat market offers a wide range of high-quality deli products as well

as beef, pork, and poultry products. Customers will be seeking out the highest quality in the area

and unique products that arent typically carried by grocery stores in Cedar Falls and Waterloo.

The Amana Meat Shop & Smokehouse is an example of an authentic deli and meat market. The

New York style of this business fits with the urban rebranding.

Visual Rebranding

Graphics

Reaching the desired target market can be done through appealing to the culture that

surrounds young professionals, middle-aged people and creative individuals. This creative

culture can be supported through up to date, visually appealing, and professional branding.

Currently, the graphics associated with Main Street Waterloo do not allude to a

contemporary or exciting locale. The main two aspects that make up the identity of Main Street

Waterloo are the current logo and website. The current logo is the first clue into the culture of

Main Street Waterloo, its outdated look does not portray Main Street as a contemporary and

diverse area. Similarly, the website is very basic in design and not user friendly. From the lack of

organization throughout to the many undated pages, a feeling of carelessness is translated to

Main Street itself. The website and logo is the first encounter potential visitors might have with

Main Street Waterloo. If the visual branding isnt welcoming to visitors, the chances of their

visiting Main Street lessen immensely.


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Looking again at promoting the trendy and creative culture of Main Street, it is

imperative that the first impression evokes these positive traits. Creating this impression can be

achieved by an up to date logo, showing visitors that Main Street Waterloo is concerned with

remaining relevant. The importance of an informative, attractive, and highly functional website

is very high. In a study conducted by Toluna QuickSurveys on behalf of Street Fight Magazine,

35.8% of people visit a website before visiting the actual store. Patrick Duprey of Street Fight

commented As long as local businesses can accurately and efficiently maintain their online

presencewith a user-friendly site including hours of operation, contact information, and other

offerings that index near the top of Google and Bings search results these digital footprints

should prove a net positive in attracting customers. (Duprey, 2013)

The Historic East Village in Des Moines, previously discussed, has a very good site to

model. They have successfully combined form and function to achieve their desired identity as a

revitalized and contemporary area.

To further support the rebranding of Main Street Waterloo in the areas of establishing a

creative and relevant reputation and appealing to a selected target market, a redesign of the logo

is proposed. This logo has been designed with the unique and historic attributes of Main Street

Waterloo in mind. The design is streamlined and modern blended with a historic shield

reminiscent of the turn of the twentieth century, representing the time of Waterloos

incorporation to the state of Iowa. Because of the simplicity of the design as a one color line

design, there is flexibility for its use in the future (See Appendix H for Logo).

The website holds to the spirit of a metropolitan area combining natural and urban

elements, such as unfinished wood, with streamlined and relaxed touches. It was very important

to have a simple and easy to navigate website to encourage viewers to move past the first page.


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Simple and clearly labeled navigation adds to the positive user experience. Landing pages such

as shop and eat provide a place for visitors to gain a brief overview of the stores and

restaurants located in the area. Importance has been given to each business in the areaeach will

have its own page with a short bio provided by the business, a photo of the business, price

gauging tools, and contact information. Links to social media, including Facebook and Twitter

are incorporated into the design to promote interaction with the site, social media community,

and Main Street Waterloo. With the addition of this information, visitors will be retained as they

return to Main Street Waterloos website to find more information once they know it is available

to them in a convenient way.

Along with the individual business pages, there is also a place for volunteers to read

about various opportunities and sign up to volunteer, inventory of open spaces, and lists of

current and upcoming events (see website design packet located after the appendices).

Curb Appeal

Visual

The visual appeal of Downtown Waterloo is important to visits as it provides impressions

of the business quality located there. Addressing a few key components will send the message

that Downtown Waterloo is a safe, well-kept area. The walkway bridge that connects East and

West 4th Street is a great feature in the area, however its upkeep needs to be addressed. The

walkway appears worn and therefore unappealing, harming the overall attractiveness of the area.

Re-painting and perhaps adding new public benches along the bridge, will be more pleasing and

appealing to downtown visitors. In addition to the walkway bridge, many of the sidewalks are in

need of repair. Adding a larger variety of flower decorations is also recommended. There also


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needs to be an increased use of decorative banners along street signs and light poles as this adds

vibrancy and a unique visual identity to the district. Different themes and holiday decor

throughout various times of the year would help to provide a joyous feel for visitors, promoting a

communal feel. It is a necessity to keep the area clean of trash and debris. Having a full-time

clean up and safety crew of paid employees or volunteers to keep the sidewalks, parking lots,

walkways, alleys, etc. clean would greatly increase the visual appearance and give it a safe, clean

look. This could also be a promoted effort encouraging the public to "Keep Main Street Clean".

Fall and spring volunteer groups could be utilized to help clean the area and give volunteers a

sense of ownership to the community. This could be accomplished through an increased number

of trash and recycling bins marked with signage promoting this initiative. Although it is not so

much a visual enhancement, adding bike lanes to the streets of downtown would help to bring in

many bikers that are riding down the new bike trail that runs by near the river by 4th Street,

adding to the community aspect of the area. This would require adding more bike racks to the

area but we believe this could provide a large increase in customers looking to perhaps grab food

or drinks during bike rides. An event centered around the strong biking community in the Cedar

Valley would help make bikers feel welcomed in downtown Waterloo.

Parking/Signage

A first-time visitor to the downtown district can find it very difficult to navigate the area

and find parking. We recommend increased/improved signage to identify available parking areas

such as parking garages, meters, and any free parking areas. In addition to signage for parking,

signage for the main shopping areas along 4th Street needs to be improved. There are signs that

simply read "Downtown", with an arrow pointing a certain direction. A sign that says "Historic

Main Street Shopping Area" would direct customers to the various restaurants, bars and


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shopping areas offered in the district, promoting the district as a cohesive area. Customers do not

want to drive around and search for main shopping areas, this can quickly frustrate them and

deter them from making future trips downtown. If customers are easily directed to the main

shopping areas, large attractions such as the new John Deere Museum, River Amphitheater,

SportsPlex, etc. they will have a much more enjoyable experience and will be more likely to

return. The main goal with this recommendation is to eliminate the confusion with driving

downtown to make customers driving experience as easy and inviting as possible.


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Budget

The costs of the recommendations that have been discussed are more difficult to quantify

than a standardbusiness rebranding and rebuilding strategy. There are many reasons for this

increased complexity. A number of the recommendations have been presented as variable

options. They can be executed using a number of different strategies based upon how the Main

Street Waterloo group chooses to proceed. Additionally the synergy of public and private

involvement and investment that needs to be undertaken creates a complexity of who will

actually be investing in each recommendation. Due to this complexity and variability the

subsequent budgetary analysis should be viewed as an informal estimation of potential costs of

each recommendation. Refer to Appendix I for a summary of the costs discussed hereafter.

The foundation of the rebuilding process will be the rebranding of Main Street Waterloo.

This involves building a unique and inviting website. A majority of the design work has been

completed as a part of this project so a majority of design costs have been eliminated. (see the

website design packet in the back of the appendix) The design must be coded, or technically

developed, in order to be functional. Atilus, an award winning web development company,

suggested that the price to create this website would be in the range of $3,000 to $8,500, with

an average of $5,750. (Katkin, 2013) This includes full content management system, for easy

updating, infinite number of pages, social integration, search engine optimization, and analytics

tracking. It would be prudent to estimate the cost being towards the higher end of the price range,

$8,500, due to the specialization that may be required. Web hosting is a continued operating cost

and is required to keep the website online and running. According to ICDSoft, a web hosting

provider, the costs range from $1000 to $3000 based upon the amount of traffic and data being

used (ICDSoft, 2013). Maintenance, upgrades, additional search engine optimization, and other


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variable costs will occur depending upon Main Street Waterloos needs as the rebuilding process

evolves. The total expenses for creating an improved web presence are estimated to be between

$9,500 and $11,500.

It is imperative in the rebranding process to advertise to get the new brand seen by the

people of Waterloo and Cedar Falls. Along with the kickoff event that will be privately

sponsored, continued advertising must be done to make the brand well known. These costs are

completely variable depending on the avenue of advertisement chosen by Main Street Waterloo.

They could range from a few hundred dollars invested in social media advertisements to

thousands for television and newspaper advertisements, billboards around Waterloo and Cedar

Falls, and promotional flyers.

Updating the visual appeal of the area is highly variable as well. It is a difficult process to

work with local government to develop large costly redevelopment projects. The bridge

connecting East 4th street to West 4th street is an example of this and would likely be difficult to

tear down or drastically improve. The simple additions recommended would be a cost effective

option to solve this problem. Flowers and paint would cost several thousand dollars and lighting

would be many more thousand. However these costs would be paid by the City of Waterloo.

Banners can be purchased custom made for $100 to 150 dollars (Custom Fabric Banners,

2013). Hanging banners with the new logo around the area would depend upon how many would

be needed to cover the area. A few thousand dollars would sufficiently cover the area.

More trash cans and a monthly volunteer cleanup effort would ensure that the area is

consistently appealing. Each can costs around $400 just a few are needed to add to the solutions

already in place (Global Industrial, 2013).


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Bike lanes create economic value with increased biker traffic. The cost to create bike

lanes is between $5,000 and $50,000 according to research conducted by the Federal Highway

Administration (Bicycle Lanes, 2013). These costs depend heavily on the conditions of the

pavement. Bicycle racks would support cyclists as well. They cost between $100 and $500

depending upon the size of the rack (Commercial Bike Racks, 2013).

Signage around the Waterloo area to simplify navigating around the area would bring

more customers to the area. These signs cost between $60 and $350 depending upon their size

(USA Traffic Signs, 2013).

The entrepreneurial development is equally as important as the rebranding and visual

upgrading process to improving the Main Street Waterloo area. This is a costly process but it will

create employment and economic development that exceed their costs.

Hiring a Head of Entrepreneurial Development would ensure that this process is carried

through. The salary and benefits of this position are reflective of the requirements of the position.

According the American Planning Association a competitive salary would be $95,000 for a

candidate that meets the qualifications (Salary Survey Summary, 2013). Benefits, taxes, and

other additional costs would be $53,000. In total the cost will be $148,000 and it would greatly

increase the chances of successfully rebuilding the area. Other options were recommended such

as a volunteer board and assigning these responsibilities to someone who is already employed in

a similar function would remove these costs.

Creating three incubators spaces and the economic impact it would create has been noted.

The National Business Incubator Association (NBIA) estimated that the cost to operate a

business incubator is between $300,000 and $400,000. The NBIA has laid out several financing

options such as private investment, private sponsorship, federal grants, and state. A more in


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depth feasibility study will need to be done to explore which structure would be best for the area.

The co-working and maker space will be privately funded and operated and wouldnt add any

costs to this option.


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Conclusions and Recommendations

Summary

The first key finding that we focus on the perceptions of Waterloo. This led us to believe,

through the demographics and crime rates research we found, that this is big problem for them.

Through our survey as well, we found that there wasnt a good perception of Waterloo. This is

why we decided to focus on a rebranding strategy for Waterloo Main Street

Conclusion

Based on the main problem, which is the reputation Waterloo currently holds, it is

imperative for a rebranding before new businesses will open in the city, and before visitors

will frequent them. The recommendations that we have put forth in the paper are the first

steps towards a complete rebranding, moving Main Street Waterloo to reach their goals of

revitalizing the area. With these recommendations, the revitalization efforts by Main Street

Waterloo will be even more advantageous. Each recommendation solidifies the culture described

by Main Street Waterloo, and provides a jumping off point to continue moving forward.

Our overall opinion are that if Main Street Waterloo continues this proposed

rebranding, the area will grow however, if this crucial part of the process is ignored, we

believe that the efforts of Main Street Waterloo will remain at a standstill.


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Appendix

Appendix A

Table 1

Sex and Age Number Percent

Total population 68,406 100.0

0 to 9 years 9,539 14.0

10 to 19 years 8,533 12.5

20 to 49years 27,634 40.3

50 to 59 years 9,369 13.7

60 to 69 years 6,309 9.2

70 years and over 7,022 10.2

Median age 35.9 ( X )

Male 33,138 48.4

Female 35,268 51.6

RACE

White 54,722 80.0

African American 11,947 17.5

Hispanic or Latino 3,827 5.6

Asian 1,025 1.5

Table 2

EMPLOYMENT STATUS

Population 16 years and over 53,540 53,540In labor force 35,378 66.1%

Civilian labor force 35,298 65.9%

Employed 32,458 60.6%

Unemployed 2,840 5.3%

Not in labor force 18,162 33.9%

Percent Unemployed (X) 8.0%

COMMUTING TO WORK

Workers 16 years and over 31,537 31,537

Car, truck, or van -- drove alone 26,571 84.3%Car, truck, or vancarpooled 3,338 10.6%

Public transportation (excluding taxicab) 276 0.9%

Mean travel time to work (minutes) 15.6 (X)


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Table 3

INCOME AND BENEFITS Number Percent

Total households 28,657 28,657

Less than $10,000 2,365 8.3%

$10,000 to $14,999 2,242 7.8%

$15,000 to $24,999 4,007 14.0%$25,000 to $34,999 4,020 14.0%

$35,000 to $49,999 4,746 16.6%

$50,000 to $74,999 5,815 20.3%

$75,000 to $99,999 2,505 8.7%

$100,000 to $149,999 2,151 7.5%

$150,000 to $199,999 365 1.3%

$200,000 or more 441 1.5%

Median household income (dollars) 40,238 (X)

Mean household income (dollars) 51,458 (X)

Table 4

MARITAL STATUS

Males 15 years and over 26,314 26,314

Never married 9,627 36.6%

Now married, except separated 12,862 48.9%

Separated 331 1.3%

Widowed 751 2.9%

Divorced 2,743 10.4%

Females 15 years and over 27,948 27,948

Never married 7,932 28.4%

Now married, except separated 12,892 46.1%Separated 671 2.4%

Widowed 2,804 10.0%

Divorced 3,649 13.1%

HOUSEHOLDS BY TYPE

Total households 28,657 28,657

Family households (families) 17,384 60.7%

With own children under 18 years 7,855 27.4%

Married-couple family 12,185 42.5%


Male householder, no wife present,family

1,248 4.4%

With own children under 18 years 709 2.5%

Female householder, no husbandpresent, family

3,951 13.8%


Nonfamily households 11,273 39.3%

Householder living alone 9,317 32.5%

65 years and over 3,203 11.2%


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Average household size 2.33 (X)

Average family size 2.96 (X)

HOUSING OCCUPANCY

Total housing units 31,098 31,098Occupied housing units 28,657 92.2%

Vacant housing units 2,441 7.8%

Homeowner vacancy rate 3.0 (X)

Rental vacancy rate 5.9 (X)


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Appendix B

Waterloo crime information

Statistic Waterloo /100KIowa /100KNational /100K

Violent crime 519 237 302

Property crime 3,140 2,243 2,849

Total crime index 3,659 2,480 3,151

The site goes on to summarize this information with the following statistics:

The Waterloo crime index is 47% higher than the Iowa average and and the Iowa crimeindex is 21% lower than the National average.

The Waterloo violent crime rate is 119% higher than the Iowa average and and the Iowaviolent crime rate is 21% lower than the National average.

The Waterlooproperty crime rate is 39% higher than the Iowa average and and the Iowaproperty crime rate is 21% lower than the National average.

Did you know?

Waterloo is safer than 8.6% of the cities in the nation. The crime rate in Waterloo is less than 2% of the cities in Iowa. The chance of being a victim of a crime in Waterloo is 1 in 28. The chance of being a victim of a violent crime in Waterloo is 1 in 193. The chance of being a victim of a property crime in Waterloo is 1 in 32.
http://www.areavibes.com/crime-comparison/http://www.areavibes.com/waterloo-ia/livability/http://www.areavibes.com/ia/http://www.areavibes.com/waterloo-ia/livability/http://www.areavibes.com/ia/http://www.areavibes.com/waterloo-ia/livability/http://www.areavibes.com/ia/http://www.areavibes.com/ia/http://www.areavibes.com/waterloo-ia/livability/http://www.areavibes.com/ia/http://www.areavibes.com/waterloo-ia/livability/http://www.areavibes.com/ia/http://www.areavibes.com/waterloo-ia/livability/http://www.areavibes.com/crime-comparison/


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Appendix C

SWOT Analysis of Main Street Waterloo:Strengths:

The Cedar Valley is heavily family oriented community as many young people move intothe area to grow and raise their families

The Coordination JSA to develop and renovate residential living spaces in the downtownarea. This means there will be an abundance of newly renovated apartments and livingspaces.

The addition of various new attractions in the downtown area such as the John DeereMuseum, River Amphitheater, Grout Museum, Sports Facility and various other newbusinesses.

Board members have already began to plan and develop the renovation of the downtownarea.

There are well established restaurants and bars such as Screaming Eagle and Jameson'sthat have a loyal customer base and highly regarded throughout the area.

Weaknesses:

There is no set or identified target market that the board members have been trying tocapture

The amount of empty store fronts that harm the appearance of the downtown area Lack of events that draw multiple target markets. Fridayloo only captures those who like

to drink and listen to music

Lack of transportation such as a trolley once customers get to the downtown area. Withthe area being so spread out a free trolley could help transport people to the various

attractions of the area Lack of draw of UNI students which is a very large potential market for local businesses.

There are not any special offerings that would persuade UNI students to visit thedowntown area rather than stay within Cedar Falls.

Opportunities:

Incorporating family oriented events along with the rebranding campaign to promoteWaterloo as a family safe environment can change the public perception of Waterloo.

Coordinating certain events along with the new attractions being built in Waterloo canpromote business throughout the entire area.

Providing various business spaces for incubators can spur the development of successfulnew businesses in the downtown area as most businesses locate/open within theincubator's community.

Providing the availability of newly renovated apartments will provide adequate livingspaces for new entrepreneurs and young working professionals

Increasing an emphasis on attracting UNI students to the downtown area through eventswith the school as well as more promotional advertising geared to students can create awhole new market. Perhaps provide a shuttle route as part of the UNI Shuttle to allowstudents transportation to downtown Waterloo.


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Threats:

The poor public perception/reputation of Waterloo. Many people think that Waterloo isan unsafe or dangerous area due to the high crime rates.

Cedar Falls is growing an expanding its Main Street area as well as the surroundingCommunity. This is preventing students from branching out and exploring Waterloo andis poaching other potential customers

The downtown area has not adapted to the needs of the target market which has causedthem to be out of sync with customers. This has contributed to the lack of defined culture.

Sustaining new businesses is a large challenge as there is a lack of customers thatconsistently visit the downtown area.


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Appendix D

Goals Over Next 1-2 Years

The Main Street Program has a solid set of goals they have developed and are working toaccomplish over the next 1-2 years:

Increase Main Street Waterloo's Volunteer Base- includes people that live and workdowntown. They would like to use a more direct approaching of informing people of

volunteer opportunities

Enhance Marketing Efforts- Market to downtown businesses, engage downtownresidents, create a marketing committee, and partnering up with the CVB on marketing

downtown

Determine How to Take Advantage of New Assets Being Brought Online in theDowntown- The goal of this is to determine how the downtown area can capitilize on the

new Riverfront & Riverloop, John Deere Museum, Sportsplex, new boat docks, new

"green" hotel and the RiverLoop Amphitheater.

Make Direct Contact With Business Owners in the Downtown- this will be used to findout business owners ideas for the downtown area and also to inform them about the Main

Street Waterloo activities and how they can assist them

Work With City to Improve the Condition and Use of Parking Garages in the Downtown-this includes cleanup and improvements, better signage, making them more safe/secure,

and to develop a plan to present to the city

CURA stands for Consolidated Urban Revitalization Area. The CURA district of Waterloo

contains about 1,350 companies who employee about 17,600 people collectively. The CURA

Group has created a 2013-2015 Entrepreneurial Development Plan in order to enhance economic

development in the CURA district.The following is a list of the Goals CURA has developed for

2013-2015:

1. Development and implement a business model for 220 East arts and entertainment flexspace for creative outlet for entrepreneurs and pop-up businesses and events.

2. Continue to review options to preserve historic structures within the CURA District inmeeting City Code for Historic Tax Credits

3. Provide Customized technical assistance, favorable capital and other startup or expansionincentives to a cluster of desired retailers who agree to be part of a structured program

and locate in the district

4. Develop co-work spaces for start-up companies5. Establish a networking event in the CURA District.


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6. Increase awareness and encourage the development of entrepreneurial curriculum intocareer academics in the area high schools

7. Proactively Develop a "no wrong door" approach to guide entrepreneurs through asupport system which can meet their specific needs

8. Address the lack of regional mentors by creating an entrepreneurial mentoring system toserve existing and potential entrepreneurs in the CURA District

9. Coordinate training/educational opportunities and programs serving entrepreneurs in theCURA District

10.Promote a CURA District entrepreneurial/small business calendar of events forcollaboration with peer groups and service providers

11.Conduct a capital inventory to determine any potential funding resource gaps forentrepreneurs

12.Organize and implement workshops on how to do Kick-Start and Crowd-Source funding13.Form a Microenterprise seed capital fund to increase available capital for start-up

companies.

Through accomplishing these goals they have developed projected outcomes for

the completion of the project. Their goal is to engage 100 entrepreneurs to start a business in the

CURA District. Of these potential 100 entrepreneurs, they would like to develop at least 10 new

business startups, 12 business expansions, 28+ new employees and 70-100 individuals investing

personal equity or attracting external capital into a business venture.


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Appendix E - Survey Results (30 Surveys that were distributed)

Gender Female13Male - 17

A

downtown waterloo project

Documents