Business Area Market Analysis:

Issued by: Central District Management Association, Inc.

The Central Avenue Business Improvement District (CBID)

Date of Issue: March 1st,  2024

Submission Deadline: April 1st, 2024

The selected candidate or firm will be responsible for:

• Retail Market Analysis: Assessing local, regional, and national retail competition, and trends, and identifying opportunity projects that would be reasonable recruitment strategies for our market.
• Multi-Family Housing Opportunities: Evaluating permit trends, forecasts, and target markets.
• Office Space Potential: Analyzing general-purpose office space opportunities.
• Transient Accommodations: Examining the transient accommodation market and its potential.
• Revitalization Strategies: Developing strategies and prioritizing projects for area revitalization. Outline redevelopment and retail optimization strategies for better site utilization 
• University Potentials and Impacts: Assessing the impacts of local universities and potential synergies. Including existing projects and those under development.
• Catalyst Projects Identification: Recommending projects that can stimulate economic growth and development.
• Investment Attraction Strategies: Strategies for the BID to attract investment and improve the investment climate.
• Stakeholder Engagement: Identifying key participants and structures for new investment initiatives.
• Phasing of Projects: Recommending a phased approach for project implementation.
• Data Analysis: Utilizing various data sources, including shopper surveys, census data, economic assistance programs,  commercially available cell data, etc.
• A visual representation of strengths and weaknesses in relation to the results of the consultant's work.