Jamestown Mall St. Louis County, Missouri. Presentation to: St. Louis County and St. Louis County Economic Council September 25, 2009

Transcription

1 Jamestown Mall St. Louis County, Missouri Presentation to: St. Louis County and St. Louis County Economic Council September 25, 2009

2 Chair: Ray Brown Ray Brown Consulting Memphis, TN Panelists: Abby Ferretti Partners for Economics Solutions Washington, DC Donna Lewis Mercer County Trenton, NJ Scott Hall Virginia Beach Department of Economic Development Virginia Beach, VA Arun Jain Design Consultant Portland, OR Dan Quinto Roaring Brook Development Co. Colleyville, TX Dr. Philip Hart Hart Realty Advisors Los Angeles, CA Ray Brown Ray Brown Consulting Memphis, TN Chuck Berling Berling Equities, LLC Morrison, CO

3 Purpose of Market Analysis 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?

4 Addressing Myths It s dangerous at the Jamestown Mall with gangs of teenagers. If the stores come people will shop here. We have money and can support the Jamestown Mall if the right stores were there. More multifamily/ apartments means big problems for our community. We are cheating on Jamestown Mall if we shop at the Galleria & other malls.

5 Existing Conditions $61,200 Median HH Income 170,000 residents 8.7 % unemployment rate 1973 PMA TMA SMA

6 Retail Demand Regional Malls Standard Needs North County Residents 200, , ,000 Area Workers 180,000 +/ Less than 80,000 Traffic (ADT) 30, ,000

7 Mall Competition St. Claire Square Chesterfield Mall 1978 Alton Square St. Louis Galleria Mid Rivers Mall St. Louis Mills

8 Measuring Retail Potential Total Retail Demand = Total Retail Supply Surplus Total Unmet Supply Retail TOO Demand MUCH

9 Customer Trade Areas

10 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.

11 Office Surplus of Supply for speculative office Overall 15% percent vacancy Always potential Institutional user Neighborhood service Back office operations

12 Residential Inventory Low-rise rental buildings - garden and senior complexes Single Family Homes - High $200,000 to $400,000 Villas /attached Senior active living Ownership lofts over retail

13 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)

14 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

15 Two Plan Solution Coordinated Vision Across jurisdictions Participation from Local Residents Broad strategic approach is not sufficient!

16 Two Plan Solution 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

17 County Primes the Pump Gain control of the land Demolish the Jamestown Mall Install initial infrastructure Create key public places in accordance with the plan

18 A Great Place 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

19 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 Economic Engine

20 Economic Engine Environmental Engineering Technology Center Research Education Applied Engineering Combines with North District Green Technology Initiative Not Found Anywhere Else Belongs to YOU!

21 The panel s goal: Inspire the county and the community to transform a dying mall and site to a vibrant, mixed-use community development.

22 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

23 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

24 8. Medical and healthcare 9. Entertainment and food 10. High-tech center 11. Small business incubator 12. Agriculture and a farmer s market

25 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.

26 Imagining Lindbergh Place

27 Five Ideas A big, & unique vision for the community s identity A basis for growth & reinforcement Cumulative & adaptive change Integration Creating a place to be

28 The Plan

29 North County District Office The Plan Farmer s Mkt Movieplex The Green Assisted Living The Y Environmental Green Tech The Screen Agriculture Ice Hockey Pond Day Care

30 North County District Office The Plan Campanile The Screen The Green

31 Imagine A day of your life in Lindbergh Place

32 Morning coffee

33 Walking around

34 The Market

35 Lunch

36 A Green Break

37 Sunday Afternoon

38 The Screen

39 Evening

40 Pond Ice Hockey

41 Be Brave

42 Imagine Lindberg Place!

43 Questions?