MHMS Market Research Study Overview Wit Clp Sean Bender 2008

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    MHMS Market Research Study Overview Wit Clp Sean Bender 2008 - Presentation Transcript

    1. MISSION HILL MAIN STREETS Market Research Overview - 2008
    2. Purpose 2 This report will provide Mission Hill Main Streets, and its stakeholders, a variety of quantitative and qualitative information to understand the commercial district’s existing and future market conditions, within the context of greater Boston. Further, the report will provide insight into opportunities for business retention, expansion, recruitment, and development. www.wit.edu/clp 5/29/2009
    3. Context – Neighboring Districts 3 Back Fenway Bay Brookline Village Dudley Square Jackson- Hyde www.wit.edu/clp 5/29/2009
    4. Context – Mission Hill 4 www.wit.edu/clp 5/29/2009
    5. Geography – Figure Ground 5 www.wit.edu/clp 5/29/2009
    6. Context: Facts & Figures 6 Residential Population (2000 census): approx. 21,000 Daytime Population Approximately 25,000 Non-resident student population Approximately 10,000 Area: approx. 0.75 square miles Major Roads: Huntington Ave, Columbus Ave, Tremont Street, and South Huntington Ave Transit: Green Line E Branch, Orange Line, #66 Bus line, and #39 Bus line www.wit.edu/clp 5/29/2009
    7. Businesses 7 90+ currently functioning enterprises (not including home businesses) Concentrations in restaurant/food service, convenience/grocery, pharmacy, personal (i.e. hair salons), and professional (i.e. banking) services Heavy concentration of institutional uses (i.e. hospitals, schools, churches, not-for-profit organizations, and public agencies) within the district and sometimes occupying commercial/retail buildings www.wit.edu/clp 5/29/2009
    8. Buildings 8 More than 650,000 SF within commercial district (does not include LMAA) Building Stock is predominantly “historic” in nature (more than 50 years old) and is heavily multi-use in design with small floor-plates One large scale modern-commercial development (OBC) with a large floor-plate Moderate commercial vacancy rate… …though “under-developed” conditions do exist on a number of parcels/properties www.wit.edu/clp 5/29/2009
    9. Vacancies 9 Location Square Footage 714 B ‐722 Huntington Ave 6,606  808 Huntington Ave 8,000  2‐6 South Huntington Ave 4,076  12‐14 South Huntington Ave 3,492  35 South Huntington Ave 4,000  81 South Huntington Ave 6,901  1443 Tremont Street 1,318  1447 Tremont Street 1,680  1455‐61 Tremont Street 5,391  1596 Tremont Street 3,750  1612‐(20) 1,500  144 Smith Street 2,080  www.wit.edu/clp 5/29/2009 Total Vacant Square Footage 48,794 
    10. Existing Conditions 10 www.wit.edu/clp 5/29/2009
    11. Parking & Transit 11 www.wit.edu/clp 5/29/2009
    12. Anchors & Clusters 12 www.wit.edu/clp 5/29/2009
    13. Current Conditions 13 Anchors Businesses (Stop & Shop, Restaurants (collectively), BMRCC) Culture/Institutions (BCYF, The Mission Church, & Library) Other (Green Space, Transit) Clusters Brigham Circle (anchored by OBC & BWH) Neighborhood Core/Tremont Street (anchored by the Mission Church, the Tobin Center, & Sheahy Park) Roxbury Crossing & Terrace Street (anchored by ORC (future), Building Materials Co-op, Diablo Glass, & Mississippi’s) South Huntington (the forgotten cluster) www.wit.edu/clp 5/29/2009
    14. Current Conditions 14 The Good Views Architecture Street-life/pedestrian traffic Green Space Robust Cultural & Institutional Anchors The Bad Congestion (ambulances, through/commuter traffic) blank walls/closed blinds dilapidated buildings/lots streetscape (litter, maintenance, street trees) www.wit.edu/clp 5/29/2009
    15. Trade Area 15 www.wit.edu/clp 5/29/2009
    16. Trade Area Determination 16 Identified a representative Sample of Commercial District Businesses Interviewed/Surveyed Sample Businesses Concerning Customer Demographics/Geography Complimentary Data from Intercept Survey Developed a Composite Map Representative of Contributing Data Averages www.wit.edu/clp 5/29/2009
    17. Trade Area Sample 17 AUTOMOTIVE Boston Clutch Works Crossing Auto Body LukOil ARTS & MUSIC Diablo Glass and Metal Studios CLEANING Joseph Sullivan Carpet Care DRY CLEANERS/LAUNDRAMATS Hollywood II Cleaners Sofia's Alterations and Cleaners FINANCIAL Citizen's Bank Sovereign Bank HEALTH SERVICES & FITNESS Chi Wellness Clinic at Longwood Crossfit The Family Van PERSONAL CARE Carmen's Beauty Salon Cut It Up Haircutters Liz's Hair Care Nail Spa by Time PROFESSIONAL SERVICES Dahabshil (Multi-Service Center) Spinney's Insurance Agency REAL ESTATE and PROPERTY MANAGEMENT Sunrise Real Estate & Mortgage FOOD and BEVERAGE COFFEE SHOPS & CAFES Butterfly Café JP Licks Mike's Donuts RESTAURANTS & PUBS Brigham Circle Diner Flann O'Brien Pub Mississippi's Penguin Pizza TGI Friday's The Squealing Pig PIZZA, SUBS AND TAKE-OUT AK's Take-Out and Delivery Chacho's Pizza IL Mondo Pizzeria Joseph's Pizzeria Kwik-E Subs RETAIL AC Hardware Boston Building Materials Coop Martin's Beepers Tiny's Flowers of Mission Hill Orchard Skateshop CONVENIENCE STORES AND GROCERIES Stop and Shop WAN Convenience Pun JAB Mini Mart LIQUOR STORES ODB Liquors Dara's Wine and Spirits www.wit.edu/clp 5/29/2009
    18. 2005 Trade Area Demographics 18 Trade Area Characteristics Population 21,238 Households 7,508 Median Age 30.25 Avg. Persons p/ Household 2.83 Owner-occupied 14.8% Family Households 38.4% Non-Family Households 61.6% Group Quarters Population 4,431 Households w/ no Vehicle 46.4% Public Transit, Bicycle, or Walking as 88.3% Primary Mode of Transportation www.wit.edu/clp 5/29/2009
    19. 2005 Trade Area Demographics 19 Income Median Household Income $45,373 Average Household Income $34,018 Per Capita Income $17,860 Education Attainment Some College/Associates 29.8% Bachelors 21.8% Masters or Higher 10.8% Gender Male 49% Female 51% www.wit.edu/clp 5/29/2009
    20. 2005 Trade Area Demographics 20 Age % (according to 2007 intercept survey) Under 18 25.9% (5.8%) 18-34 26.1 (49%) 34-54 30.7 (27.9%) 55+ 17.4 (7.4%) Race/Ethnic Origin White 53.6% Hispanic 15.7% African American 20.2% Asian 12.8% Native Indian, Alaskan or Hawaiian or 0.6% Pacific Islander www.wit.edu/clp 5/29/2009
    21. Trade Area Demographic Projections 21 2000 to 2010 residential population projection according to the US Census is for flat to slightly negative growth for the overall trade area However, Boston (among numerous other large urban centers) has repeatedly and successfully corrected Census Projection Methodology, which unfortunately does not reach down to the tract level for estimates www.wit.edu/clp 5/29/2009
    22. Trade Area Demographic Projections 22 Key Considerations 1,400 + dormitory beds added within trade area since the year 2000 2.2 million SF of space added to the LMA area (partially overlapping with trade area) since 2000 2.4 million SF of additional space planned/under construction in LMA area through 2010 One Roxbury Crossing Proposed Development Nearly 500 units of new housing approved/under review www.wit.edu/clp 5/29/2009
    23. Understanding The Mission Hill Patron: 23 Intercept Survey Original Survey Customers Surveyed conducted in 2000 Residents gathered information from 200 customers 11.4 Students 9.5 2007 survey gathered 50.1 information from more Longwood Employee than 600 customers 28.9 Business Identical survey format Owner/Em ployee www.wit.edu/clp 5/29/2009
    24. 2007 Intercept Survey 24 Changes that would # % increase patronage Business Open Earlier 136 5.0 Business Open Later 255 9.3 Better Selection of Goods/Services 280 10.2 Better Quality of Goods/Services 251 9.2 Restaurant Delivery 208 7.6 Better Customer Service 218 8.0 Better Information 251 9.2 Increased Policing 250 9.1 Lower Prices 291 10.6 Improved Cleanliness 321 11.7 More Attractive Stores/Storefronts 278 10.1 www.wit.edu/clp 5/29/2009
    25. What the Mission Hill Customer Wants 25 Top Ten Desired Business/Retail Options 1. Sit-down restaurants 2. Clothing stores 3. Retail stores 4. Bookstores 5. Convenient Food restaurants 6. Laundry/Cleaners 7. Cafes 8. Supermarket/Grocery/Specialty 9. Bars 10. Community/Social www.wit.edu/clp 5/29/2009
    26. Retail Sales (see full report) 26 Retail Type Groceries (minus beer, wine & liquor) $18,060,994 Restaurants & Taverns $73,939,963 Apparel, Accessories & Merchandise $2,807,991 Furniture & Home Goods $0 Hardware, Building Materials & Garden $2,247,003 Office Supplies, Gifts, Stationary & $4,922,999 Novelty General Merchandise $12,747,000 Electronics & Appliances $3,337,998 www.wit.edu/clp 5/29/2009
    27. Retail Sales Potential (see full report) 27 Retail Type Groceries (minus beer, wine & liquor) $69,180,043 Restaurants & Taverns ($18,442,945) Apparel, Accessories & Merchandise $36,709,016 Furniture & Home Goods $8,882,002 Hardware, Building Materials & Garden $35,473,008 Office Supplies, Gifts, Stationary & $3,017,000 Novelty General Merchandise $64,227,028 Electronics & Appliances $13,599,006 Total Leakage (minus pharmaceuticals and $180,469,060 institutional sales) www.wit.edu/clp 5/29/2009
    28. Retail Sales Potential Analysis 28 Certain Categories Currently Exceed Traditional, Residential Expectations due to adjacency/overlap w/ LMAA (i.e. Restaurants, Textbooks, and Pharmaceuticals) but may still have room for growth Nearly all “traditional” commercial district categories show significant leakage (i.e. apparel, general merchandise, home goods, office supplies and novelties, and electronics) Other sales such as entertainment and hotel/lodging, while not considered retail sales, show market potential www.wit.edu/clp 5/29/2009
    29. Challenges & Barriers 29 Institutional encroachment Fragmented market, transient populations High property valuations, market values for leasing = barrier to small businesses and start-ups Little retail presence Lack of commercial/cultural anchors with strong linkages to business (i.e. Theatre, Anchor Stores/Attractions) Excessive institutional/“office” presence on first floor retail spaces www.wit.edu/clp 5/29/2009
    30. Strengths 30 Excellent access to large employment and student base in the adjacent LMAA: 50,000+ Excellent access to transit (orange line, green line, #66, and #39 buses) and surface routes (Huntington Ave, Columbus Ave) Excellent access to parks and green spaces Institutional Anchors (i.e. the Mission Church, Library, MFA, BCYF Headquarters, LMAA) The Mission Hill business district serves a diverse population: i.e. race/ethnicity, age, socio-economic status, student/transient, professional, and long-term residents/families www.wit.edu/clp 5/29/2009
    31. MHMS Action Strategies 31 Business Member Program that incorporates high quality technical support and advising for sustainability and growth Business Member Program that provides valuable and detailed market research for members (i.e. customer identification (a la zip codes), Claritas data, etc. Collective Branding/Identity Coordinated Calendar of Promotional Events & Activities (substantially organized by businesses) Business Recruitment/Expansion targeted towards “complimentary” and “leveraging” enterprises according to current/project market trends Implementation of the Holy Trinity- Clean & Well-maintained Storefront/Windows, Pretty Flowers/Plantings, Clear & Clean Sidewalks www.wit.edu/clp 5/29/2009
    32. Top Areas for Business 32 Expansion/Recruitment Home goods, hardware Entertainment/Engagement (i.e. cooking school) Niche Retail: Artistic creative (i.e. funky t shirt shop), Shoe store, second-hand clothing and goods Hybrid: i.e. Comics/Music/Movies/Books, Bookstore/Café/Bakery, Video store & Inde-Theatre, Laundry & Arcade Sports/Fitness/Lifestyle: i.e. Yoga Studio, full-scale gym a la BSC, Gym/Sporting Goods Store Hotel/Extended Stay www.wit.edu/clp 5/29/2009
    33. Market Position Statement 33 Mission Hill is… The crossroads for Boston’s Medical, Research & Academic communities Among the best connected commercial districts outside of downtown w/ two rapid transit lines, commuter rail access, multiple high-capacity bus and shuttle routes situated between Rtes. 9 and 28 A vibrant and diverse community representing a true cross- section of Boston (students, young professionals, and families) A neighborhood with architectural character and amazing parks (and views) alongside restaurants, shops, and services www.wit.edu/clp 5/29/2009
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