jamestown mall st. louis county, missouri presentation to...
TRANSCRIPT
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Jamestown MallSt. Louis County, Missouri
Presentation to: St. Louis County
and St. Louis County Economic CouncilSeptember 25, 2009
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Panelists:Abby FerrettiPartners for Economics SolutionsWashington, DC
Donna LewisMercer CountyTrenton, NJ
Scott HallVirginia Beach Department of Economic Development Virginia Beach, VA
Chuck BerlingBerling Equities, LLCMorrison, CO
Arun JainDesign ConsultantPortland, OR
Dan QuintoRoaring Brook Development Co.Colleyville, TX
Dr. Philip HartHart Realty AdvisorsLos Angeles, CA
Ray BrownRay Brown ConsultingMemphis, TN
Chair:Ray BrownRay Brown ConsultingMemphis, TN
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Understand existing conditions
spending habits/ patterns – retail
rents/pricing- office & residential
Determine type and amount of commercial
Retail
Office
Other commercial
How many new units & what type ?
Purpose of Market Analysis
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Addressing Myths
It’s dangerous at the Jamestown Mall with gangs
of teenagers.
We have money and can support the Jamestown Mall if the right stores were there.
More multifamily/ apartments means big
problems for our community.
If the stores come people will shop here.
We are cheating on Jamestown Mall if we shop at the Galleria & other malls.
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Existing Conditions$61,200 Median HH Income 170,000 residents
8.7 % unemployment rate
1973 PMA TMASMA
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Retail DemandRegional Malls Standard Needs North County
Residents 200,000 – 250,000 170,000
Area Workers 180,000 +/‐ Less than 80,000
Traffic (ADT) 30,000+ 20,000
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Mall Competition1974-- St. Claire Square1976 -- Chesterfield Mall1978 – Alton Square1986 -- St. Louis Galleria1987 -- Mid Rivers Mall2003 -- St. Louis Mills
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Total Retail Supply
Total Retail Demand
Total Unmet Retail Demand
‐ =
Measuring Retail Potential
Surplus Supply
TOO MUCH
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Customer Trade Areas
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Lindbergh Place – What’s Possible??
New sit-down restaurants
New furniture or home furnishings stores
A stand-alone or center-operated pharmacy with urgent care medical services
Specialty grocer with beer and wine sales
A year round farmer’s market; and
Other retail opportunities.
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Surplus of Supply for speculative office
Overall 15% percent vacancy
Office
Always potential ……
Institutional user
Neighborhood service
Back office operations
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Low-rise rental buildings - garden and senior complexes
Single Family Homes - High $200,000 to $400,000
Residential Inventory
Villas /attached
Senior active living
Ownership lofts over retail
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The Actual Story
There is a market!Lindbergh Place will reorient itself to meet the
needs of:
Existing residents (families, young professionals, seniors)
New residents,Existing employees,
New employees,Students
And the broader business community (retailers, office users, institutions)
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BREAKING THE STATUS QUO!
• Inefficient Sales Tax System/Fragmented Local Government
• Unsustainable development practices
• Can be Overcome • Identify new revenue and funding sources• Be strategic in using tools
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Two Plan Solution
• Coordinated Vision• Across jurisdictions
• Participation from Local Residents
Broad strategic approach is not
sufficient!
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• Detailed Development Plan• Set the Standards
• Be Specific (size, density, use, programming, community involvement)
• Control the Process• Seek out best possible development partner• Create most advantageous financing program• Keep focus on successful implementation
Two Plan Solution
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• Gain control of the land
• Demolish the Jamestown
Mall
• Install initial infrastructure
• Create key public places in accordance with the plan
County Primes the Pump
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• Designed for and Welcoming to Everyone
• Meets Shared Community Needs
• Place of Community Ownership• Safe & Comfortable• Dynamic Programming & Technology• Built for All Generations• Generates Jobs
A Great Place
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Economic Engine• Establish Small Business Development Program
• Assist From Incubator to Sustainability• Provide Small Professional Office Space
• Establish Retail Development Program
• Coordinate a Fragmented Process
• Create New Business Opportunities
• Healthcare Services• Recreation Athletic Tournaments
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Economic Engine
• Environmental Engineering Technology Center
• Research• Education• Applied Engineering• Combines with North District Green Technology Initiative
• Not Found Anywhere Else• Belongs to YOU!
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The panel’s goal:
Inspire the county and the community to transform a “dying mall”and site to a vibrant, mixed-use community development.
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Suggest synergistic potential land uses that can included in the Vision Plan for the future Lindbergh Place:
1. Senior living and activities
2. Lifestyle and boulevard shopping
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3. Professional, small business offices
4. Community Recreation Venues
5. Family-oriented and organized activities
6. Youth facilities and organized activities
7. Child day care
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8. Medical and healthcare
9. Entertainment and food
10. High-tech center11. Small business
incubator12. Agriculture and a
farmer’s market
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Propose that the County aggressively and proactively take the lead by:
1. Using their eminent domain powers to take control and ownership of the property
2. Build a North County District Office building and infrastructure as the first steps in a new and exciting journey of renewal in this area.
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Imagining Lindbergh Place
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A big, & unique vision for the community’s identity
A basis for growth & reinforcement
Cumulative & adaptive change
Integration
Creating a place to be
Five Ideas
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The Plan
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The Plan
The Green
North County District Office
Day Care
Assisted Living
The “Screen”
The “Y”
Environmental Green Tech
Ice Hockey Pond
Movieplex
Farmer’s Mkt
Agriculture
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The Plan
The “Screen”
Campanile
The “Green”
North County District Office
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ImagineA day of your life in Lindbergh Place
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Morning coffee
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Walking around
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The Market
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Lunch
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A “Green” Break
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Sunday Afternoon
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The Screen
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Evening
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Pond Ice Hockey
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Be Brave…
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Imagine Lindberg Place!
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Questions?