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Commercial Development Assessment
Commercial Development Assessment
Commercial Development Assessment
Commercial Development Assessment
Commercial Development Assessment
Commercial Development Assessment
Commercial Development Assessment
Commercial Development Assessment
Commercial Development Assessment
Commercial Development Assessment
Commercial Development Assessment
Commercial Development Assessment
Commercial Development Assessment
Commercial Development Assessment
Commercial Development Assessment
Commercial Development Assessment
Commercial Development Assessment
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Commercial Development Assessment

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Commercial Development Assessment final report presentation.

Commercial Development Assessment final report presentation.

Published in: Technology, Real Estate
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  • Transcript

    • 1. Miami Valley Commercial Development Assessment Board of Directors September 4, 2008 Martin Kim, Director of Regional Planning
    • 2. Purpose
      • To examine the Region’s commercial development status as part of “Going Places: An Integrated Land Use Vision for the Miami Valley Region”
        • Provide a comprehensive overview of the current commercial development conditions in the Region
        • Estimate future commercial development requirements for the Region
      • Study Area
        • Greene, Miami and Montgomery counties and cities of Carlisle, Franklin, and Springboro in Warren County
    • 3. Report Structure
      • Introduction
      • Regional Overview
      • Land-Based Analysis
      • Building-Based Analysis
      • Office Market Assessment
      • Retail Market Assessment
      • Vacancy
      • Employment
      • Conclusion
    • 4. Definition and Data Sources
      • Commercial land use is defined as “the land and improvements to land which are owned or occupied for general commercial and income producing purposes and where production of income is a factor to be considered in arriving at true value.” (State of Ohio Classification of Real Property)
        • Office
        • Vacant – Unbuilt
        • Unclassified Commercial Land
        • Lodging
        • Healthcare
      • Data Sources
        • Greene, Miami, Montgomery, and Warren Counties
        • Cities of Carlisle, Franklin, and Springboro
        • HUD
        • Gem Real Estate Group
        • OKI and MVRPC
        • Restaurants
        • Retail
    • 5. Regional Overview – Historic Trends
      • The Region gained over 10,000 acres of commercial land between 1975 and 2000
      • Commercial land has been developed at a much greater rate (148.1%) than non-commercial land (53.2%)
      Source: ODNR, 2008; MVRPC, 2008 25.2% 80,721.6 64,451.6 161.1% 16,960.9 6,496.5 Montgomery 118.1% 22,622.5 10,374.6 183.3% 2,636.4 930.5 Miami 95.5% 52,092.5 26,648.6 85.9% 3,502.0 1,883.5 Greene 53.2% 155,436.6 101,474.8 148.1% 23,099.3 9,310.6 Region % Change 2000 1975 % Change 2000 1975   Non-Commercial Land Commercial Land  
    • 6. Regional Overview - 2007 Source: Greene, Miami, Montgomery, and Warren counties, 2007
      • Commercial land makes up 3.3% of the total regional land
      • Commercial land is concentrated along major highways and clustered around interchanges
      13,141.6 (91.8%) 12,057.9 (8.2%) 1,083.6 War* 297,255.2 (94.2%) 280,090.1 (5.8%) 17,165.1 Mot 262,363.8 (98.3%) 257,862.2 (1.7%) 4,501.6 Mia 266,189.2 (98.0%) 260,904.8 (2.0%) 5,284.4 Gre 838,949.8 (96.7%) 810,915.0 (3.3%) 28,034.7 Region Total Non-Commercial Commercial  
    • 7. Regional Overview Source: Greene, Miami, Montgomery, and Warren counties, 2007 Land Based (in acres) Building Based (in sq ft)
    • 8. Land-Based Analysis
      • Highlighted areas represent the most concentrated areas of commercial land in the Region
      • Areas with high concentration of commercial land are found along major roads such as I-75, I-70, I-675 and US 35
      • The City of Dayton has few significant concentrations of commercial land
    • 9. Building-Based Analysis
      • Areas with high concentration of commercial GLA are found along major roadways
      • Areas with high concentrations of commercial space (Gross Leasable Area) are less spread out than the areas with high concentrations of land
      • Downtown Dayton does contain a high concentration of commercial space
    • 10. Market Assessment Source: Greene, Miami, Montgomery, and Warren counties, 2007 Retail Markets Office Markets
    • 11. Office Market Analysis
      • South market has the most office land per 1,000 employees (17.8 acres) while north (7.8 acres) and east (7.7 acres) markets have the least amount of office land per 1,000 employees
      • Central (146.3 sq ft) and south (143.1 sq ft) markets have the most office GLA per employee
    • 12. Retail Market Analysis
      • North market has the most retail land (10 acres) per capita while East (5.9 acres) and South (5.9 acres) markets have the least
      • North market has the most retail GLA (75.7 sq ft) per capita while West market (38.1 sq ft) has the least
    • 13. Vacancy Source: Gem Real Estate Group, 2007 Business Vacancy Commercial Vacancy Estimates (GLA) Source: Department of Housing and Urban Development, 2008; United States Postal Service, 2008
    • 14. Employment Source: MVRPC, 2008; Ohio-Kentucky-Indiana Council of Governments, 2008
      • Employment is concentrated along major highways and arterial roads
      • Largest clusters of employment are in eastern Montgomery County, western Greene County, and along I-75 in Miami County
      • There are few places in the Region that have no commercial employment
      Commercial Employment Concentration: 2005
    • 15. Employment Historic Commercial Employment Upper Level Projection Lower Level Projection Source: MVRPC, 2008; Ohio-Kentucky-Indiana Council of Governments, 2008 Note: *Warren County includes only the cities of Carlisle, Franklin, and Springboro
      • Regional employment to increase between 8.4% and 30.1%
      • Growth rates will vary by county: Greene growth rate is expected to be the highest
      382,724 355,190 329,870 294,088 Regional Total 11,667 10,672 9,958 8,823 Warren* 243,531 234,444 222,399 204,819 Montgomery 43,099 38,805 35,458 30,709 Miami 84,427 71,269 62,054 49,737 Greene 2040 2030 2020 2010   339,272 326,917 322,197 313,374 Regional Total 11,667 10,672 9,958 8,823 Warren* 215,013 215,204 217,065 218,666 Montgomery 38,052 35,620 34,607 32,786 Miami 74,540 65,421 60,566 53,099 Greene 2040 2030 2020 2010   285,368 273,159 221,498 169,558 Regional Total** 8,126 6,856     Warren* 209,607 203,542 172,138 135,722 Montgomery 29,021 27,727 20,059 15,254 Miami 46,740 41,890 29,302 18,581 Greene 2005 2000 1990 1980  
    • 16. Summary and Conclusion
      • While population has decreased since 1970, commercial development in the Region increased 148.1% between 1975 and 2000, while non-commercial development increased only 53.2%
      • Much of the Region’s commercial land is concentrated adjacent to major highways and arterial roads - The Region’s commercial development is very automobile-dependent
      • Commercial employment is expected to continue to grow
      • However, it is estimated that there are over 18 million square feet of vacant commercial space in the Region
      • The Region must re-evaluate the viability of existing infrastructure so that the Region can continue to offer quality places in which we live, work and do business
    • 17. For More Information
      • Contact Martin Kim, Director of Regional Planning at mkim@mvrpc.org

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