This document presents a vision and strategy for developing a daytime economy in Parker, Colorado. It identifies several challenges, including a lack of daytime jobs, missing industries, and commercial real estate competition from other areas. The strategy proposes focusing on health care as a major job growth opportunity by establishing a "Health Corridor" anchored by a medical office park near Parker Road and E-470. Developing the corridor would require a vision plan, marketing, transit connections, and phased implementation. The goal is to stem economic leakage, add thousands of daytime jobs, and generate millions in local spending and tax revenue.

1. Daytime Economy
Vision and Strategy
Presented by Dr. Phil McCready
2008 Dr. Phil McCready & Don Threewitt
July 14, 2008

2. Why Daytime Economy
Retailers want depth in local spending
Daytime vibrancy lacking downtown
Out-commuting threatens Q. of Life
Cultural industry users/sponsors few
Sales tax for investment and upgrading

3. Daytime Economy Wanted
Where Parker can compete!
Daytime workforce with high wages
Growth potential for job creation
Industries boosting image of Parker
Match local workforce skills/assets

4. Context: Locational Advantage
AIRPORT.

5. Context: Commercial Development Focus

6. Competition : I-25 Office Market
ACTIVE DEVELOPMENT
AREA
DTC: 9m sq. ft.
(35,000 JOBS)
INVERNESS: 9m sq. ft.
LONE TREE: 4m sq. ft.
MERIDIAN: 2m sq. ft.
(8500 JOBS)
HIGHLANDS R.: 1.9 m sf.
S. AURORA 1.7m sq. ft.
COMPARK: 1 m sq. ft.
PARKER: 0.6 m sq. ft.

7. What Inhibits Development?
Land Availability/Cost Commercial Lending Rules
Fragmented Ownership Land/Development
Land/Development Multiple small developers
Choice/Quality/Cost with competing visions
Business Space
Business Space 1.Real Competition
Competition
Estate I-25 Corridor Market
Market
Real Estate
Larger Quality
Firms Don’t Come
Failure Market Perceptions
Companies
Companies Sectors/Timing
Sectors/Timing
2.Economic Leakage Successful Companies Leave

8. Missing Industries
Metro Denver Compared to Lone Tree, South
Aurora and Highlands Ranch:
-1400 jobs in Information!
Parker has:
6000 - 7000 fewer daytime
jobs & job gap is growing
Missing South Metro sectors
Lack of larger companies
Home grown firms leaving
Business vibrancy limited

9. Missing Industries
Metro Denver
Compared to Lone Tree, South
T
Aurora and Highlands Ranch:
k
-1100 jobs in Finance/Insurance
Parker has:
Office space choice/quality
Pre-lease development block
Choice/quality/cost space
30% smaller retail sector

10. Expanding Retail Competition
EXPANSION PLANS
NEW MAIN STREET
RETAIL
REGIONAL CENTER/
SUPER-REGIONAL
CENTER
COMMUNITY CENTER
Ppppp

11. Retail Quality
is Suffering
High turnover in restaurants
Fewer quality restaurants
Dead retail space & vacancy
Lower quality ‘big box’
Improve roadside frontage
Quality along Parker Rd.
Lacking landmark gateways
Better signage
Boost retail spending capacity

12. Available Commercial Land
C Daytime Economy
c Viability Diminishing!
Sites need to be:
Larger sites for landmark/
quality type development
E-470 access (visibility)
Proximity to Parker for
spending capture
Consistent quality with
nearby sites to safeguard
tenant investment

13. Daytime Economy Can Work in Parker!
What it will take:
But
Harness key sites close
no to E-470 & Parker Rd.
Backing for larger scale
job growth opportunities
Clear development vision
for key parts of the town
Selected higher density
Target office market failure
Drop bedroom community
market perception
Scheme design to retain
spending and sales tax

14. Large-scale Job Growth Opportunity
Metro Denver
P P Long-term
P
projected
P P P growth in
Health Care
expenditures!
Fast growing
industry in
South Metro
Denver:
• New hospitals
• 1,500 firms
• C 470 medical office development
• 30% growth in new firms (2001-2005)

15. Location: Parker Health Corridor

16. Context: Established Health Corridors
1 hour drive time
Hospitals number:
EAST-WEST HEALTH
31 CORRIDORS
Gross patient revenue:
$16 Billion HOSPITALS
Plus military medical:
OVER 250 BEDS
Fort Carson; VA;
Air Force Academy
hospitals
100 to 250 BEDS
UNDER 100 BEDS

17. Context: Local Health Assets
Rocky Vista
University
Parker
Adventist
Skyridge
Medical

18. The Health Corridor Concept
What is needed to make the concept work to
maximize economic benefits for the town:
1. Health Corridor Vision Plan
2. Parker Medical Office Park
3. Marketing and Branding Strategy
4. Connection & Transit Strategy

19. 1. ‘Big Picture’
Vision
P
p

20. 1. Block by Block Vision

21. 1. Vision for Key Sites
P
p

22. 2. Brand and Message
Parker
Health
Corridor
Where Business
Comes to Thrive
First Choice
for Healthy
Lifestyle
Healthy
Communities

23. 2. Who are we Selling to?
1. Medical education satellite facilities
2. Financial, IT, Business services in health
3. Health related sales and corporate offices
4. Health related wholesale and distribution
5. Healthy living treatment and facilities
6. Health related not-for-profits

24. 3. Parker Medical Office Park
Anchors new development
benefits close to Parker
p

25. 4. Transit Strategies
Maximize
economic
linkages SHUTTLE BUS
and utilize
grant RTD BUS LINK
funding RTD
for public CYCLE / PEDESTRIAN
transit &
access

26. Health Corridor Job
Medical Office Park:
and Tax Impacts  4,500 - 9,000 direct jobs
 1,400 - 2,800 indirect jobs
 $129 - $258 m spending locally
 $1.16 - $2.32 m sales tax locally
Rest of Health Corridor:
 2,400 - 8,000 direct jobs
 745 - 2,500 indirect jobs
 $48 - $160 m local spending
 $0.43 - $1.45 m local sales tax

27. Intelligent
Implementation The payback of daytime
economy is not direct;
but it is REAL (e.g. crop
feeding/rotation on yield):
Helps stem “leakage” of
purchases from outside Parker
bought with local money.
 Estimated tax of $173.35 per
resident daytime worker/year
 Focus on women into
workforce; workforce placement

28. Strategies to Improve Development
pre-lease
land availability 1. Parker Rd.
1. Parker Rd. requirements
Corridor Vision
Corridor Vision
business space gaps I-25 Corridor competition
5. RTD facility/parking
5. RTD facility/parking 2. Business Incubator
2. Business Incubator
The
few larger firms smaller fragmented land
small independent
ideas perceptions of
developers development profs.
4. Transit Connection Strategy
4. Transit Connection Strategy 3. Zoning/density
3. Zoning/density
complexity in development control signage/quality of
and building regulation entrance gateways poor

29. Phasing, Integration and Grants

30. End of presentation
Q&A
Next steps
Thank you