The document summarizes a public meeting held in Reading, MA on April 1, 2015 to discuss the town's strategic economic development action planning. The meeting covered market potential analyses for retail, office, and residential development, as well as design preferences. Key points included:
- Retail market analyses found opportunities for filling vacancies downtown and adding restaurants, with potential for more retail with greater residential density.
- Office market analyses indicated potential for small professional offices downtown and in other areas, with some opportunity for larger office buildings.
- Residential analyses projected growing demand from seniors and young professionals, finding opportunities for over 400 new units within priority development areas over 5-10 years.
- The four priority development areas identified were
Redressing the Municipal Affairs with Digital Spatial Data toward Responsible...Shamsuddin Ahmed
This research offers a basis for spatial data management case in point that the land governance strategy denoting as a routine of digital spatial data legacy development is a major stipulation to the “land resources” and the “community services”. Until 2015, Ontario’s municipalities cover just 17 percent of its landmass where the municipal affairs pace complications in land use reckoned to the seven provincial plans. The Greater Golden Horseshoe Growth Plan often cloaks the multijurisdictional constraints, for example, the amendment of the municipal zoning ordinance, land registry and surveys, land claims and conciliations, and housing options and taxations. The emphasis is to contour: first, identification of the key attributes and entity-sets; second, structuring of the geo-relational database connecting the local activities at the dissemination areas; and finally, the thematic features of each municipality and their contiguity. On the contrary, responsible land governance in municipal affairs is obviously substance at least to the three central obligations such as approach in integrated land management, shared periphery negotiation for economic and environmental growth moratoria, and digital data automation properties and protocols. The suggestion is that a massive development of digital spatial data is necessary to readdress the municipal affairs toward responsible land governance.
Shows how to make a land use "ordering" and development master plan based on trasect / new urbanism usage
Since land is already "ordered" and "planned" in developed countries this presentation may not be applicable in those countries. Nevertheless, this model might be helpful for urban planners that need to "order" their territories, specially in underdeveloped (third world countries)
The presentation is based in Ecuador´s territorial division (analogue to the US)
The model target cities that may work together to stablish a "regional" authority, which may include cities for different counties
I translated this from Spanish to English, sorry for the typos
This document is a compilation of relevant excerpts from adopted City plans that will be considered in planning for the Countryside site.
Vision 2001-2020
Peters Creek North Neighborhood Plan
Strategic Housing Plan
Parks and Recreation Master Plan
Roanoke Valley Conceptual Greenways Plan
Lick Run Greenway Phase III Feasibility Study
Redressing the Municipal Affairs with Digital Spatial Data toward Responsible...Shamsuddin Ahmed
This research offers a basis for spatial data management case in point that the land governance strategy denoting as a routine of digital spatial data legacy development is a major stipulation to the “land resources” and the “community services”. Until 2015, Ontario’s municipalities cover just 17 percent of its landmass where the municipal affairs pace complications in land use reckoned to the seven provincial plans. The Greater Golden Horseshoe Growth Plan often cloaks the multijurisdictional constraints, for example, the amendment of the municipal zoning ordinance, land registry and surveys, land claims and conciliations, and housing options and taxations. The emphasis is to contour: first, identification of the key attributes and entity-sets; second, structuring of the geo-relational database connecting the local activities at the dissemination areas; and finally, the thematic features of each municipality and their contiguity. On the contrary, responsible land governance in municipal affairs is obviously substance at least to the three central obligations such as approach in integrated land management, shared periphery negotiation for economic and environmental growth moratoria, and digital data automation properties and protocols. The suggestion is that a massive development of digital spatial data is necessary to readdress the municipal affairs toward responsible land governance.
Shows how to make a land use "ordering" and development master plan based on trasect / new urbanism usage
Since land is already "ordered" and "planned" in developed countries this presentation may not be applicable in those countries. Nevertheless, this model might be helpful for urban planners that need to "order" their territories, specially in underdeveloped (third world countries)
The presentation is based in Ecuador´s territorial division (analogue to the US)
The model target cities that may work together to stablish a "regional" authority, which may include cities for different counties
I translated this from Spanish to English, sorry for the typos
This document is a compilation of relevant excerpts from adopted City plans that will be considered in planning for the Countryside site.
Vision 2001-2020
Peters Creek North Neighborhood Plan
Strategic Housing Plan
Parks and Recreation Master Plan
Roanoke Valley Conceptual Greenways Plan
Lick Run Greenway Phase III Feasibility Study
2012 Rescaling of Planning and its Interface with Economic Development - puga...Lee Pugalis
Abstract
Following the installation of a UK Coalition Government in 2010, ways of governing the spatial organisation of development have undergone far-reaching change in England. Within a context of austerity following the abolition of regional policy machinery, and an onerous national target framework, localities are entering a new phase of incentivised development. Consequently, Local Planning Authorities are having to transfer part of their focus from government’s ‘top-down’ requirements, as they come to embrace more adequately ‘bottom-up’ neighbourhood scale plans. Analysing the path of change, especially at the interface between planning and economic development, the paper draws attention to the dilemmas arising from these crucial scale shifts, and explores the potential of sub-national governance entities – Local Enterprise Partnerships – to help resolve the strategic co-ordination of planning.
A Field Manual for the Preparation of a Participatory Community Development P...copppldsecretariat
This manual on community-based participatory approach is a training guide for a range of users and potential stakeholders: community members, extension staff, researchers, local and central administrators, NGO staff, policy makers, private institutions/associations, donors and others. The manual is easy to follow, with clear definitions of terminology, and is well structured to show the different steps of the community-based participatory approach. The main steps involved in elaborating the participatory community development plan are presented as a sequence of steps, with all necessary details for the various users and stakeholders.
The manual is the outcome of many years of experience involving many stakeholders in different countries and settings. We are indebted to all our partners for their highly-valued contributions.
[ Originally posted on http://www.cop-ppld.net/cop_knowledge_base ]
Study: The Future of VR, AR and Self-Driving CarsLinkedIn
We asked LinkedIn members worldwide about their levels of interest in the latest wave of technology: whether they’re using wearables, and whether they intend to buy self-driving cars and VR headsets as they become available. We asked them too about their attitudes to technology and to the growing role of Artificial Intelligence (AI) in the devices that they use. The answers were fascinating – and in many cases, surprising.
This SlideShare explores the full results of this study, including detailed market-by-market breakdowns of intention levels for each technology – and how attitudes change with age, location and seniority level. If you’re marketing a tech brand – or planning to use VR and wearables to reach a professional audience – then these are insights you won’t want to miss.
Draft recommendations presented by Chris Kuschel of the Metropolitan Area Planning Council at the second public forum of the Natick Center Plan, February 10, 2016, Natick, MA.
Apache Boulevard Trade Area Market Scan
LISC MetroEdge, a program of the Local Initiatives Support Corporation (LISC), works in urban markets nationwide assisting CDCs, local governments, developers and business associations to define their market potential and develop and implement strategies to achieve that potential.
Final presentation of the American Institute of Architects' Sustainable Design Assessment Team (SDAT) to the community of Oakland, Maryland on strategies for downtown revitalization. November 2016.
Chicago TREND (Transforming Retail Economics of Neighborhood Development) combines innovative predictive analytics, deal brokering and financial products to support "retail on the leading edge" of emerging neighborhood markets. The new initiative - including partnerships with ICSC, Nielsen, Econsult Solutions and leading retailers and developers - aims to enable retailers, developers, investors and neighborhoods to better target particular types of retail to specific changing neighborhoods offering retail opportunity that will help drive the neighborhood change. The initiative is led by Lyneir Richardson. To discuss potential retail development and partnership opportunities, please contact him at lyneir@rw-ventures.com.
2012 Rescaling of Planning and its Interface with Economic Development - puga...Lee Pugalis
Abstract
Following the installation of a UK Coalition Government in 2010, ways of governing the spatial organisation of development have undergone far-reaching change in England. Within a context of austerity following the abolition of regional policy machinery, and an onerous national target framework, localities are entering a new phase of incentivised development. Consequently, Local Planning Authorities are having to transfer part of their focus from government’s ‘top-down’ requirements, as they come to embrace more adequately ‘bottom-up’ neighbourhood scale plans. Analysing the path of change, especially at the interface between planning and economic development, the paper draws attention to the dilemmas arising from these crucial scale shifts, and explores the potential of sub-national governance entities – Local Enterprise Partnerships – to help resolve the strategic co-ordination of planning.
A Field Manual for the Preparation of a Participatory Community Development P...copppldsecretariat
This manual on community-based participatory approach is a training guide for a range of users and potential stakeholders: community members, extension staff, researchers, local and central administrators, NGO staff, policy makers, private institutions/associations, donors and others. The manual is easy to follow, with clear definitions of terminology, and is well structured to show the different steps of the community-based participatory approach. The main steps involved in elaborating the participatory community development plan are presented as a sequence of steps, with all necessary details for the various users and stakeholders.
The manual is the outcome of many years of experience involving many stakeholders in different countries and settings. We are indebted to all our partners for their highly-valued contributions.
[ Originally posted on http://www.cop-ppld.net/cop_knowledge_base ]
Study: The Future of VR, AR and Self-Driving CarsLinkedIn
We asked LinkedIn members worldwide about their levels of interest in the latest wave of technology: whether they’re using wearables, and whether they intend to buy self-driving cars and VR headsets as they become available. We asked them too about their attitudes to technology and to the growing role of Artificial Intelligence (AI) in the devices that they use. The answers were fascinating – and in many cases, surprising.
This SlideShare explores the full results of this study, including detailed market-by-market breakdowns of intention levels for each technology – and how attitudes change with age, location and seniority level. If you’re marketing a tech brand – or planning to use VR and wearables to reach a professional audience – then these are insights you won’t want to miss.
Draft recommendations presented by Chris Kuschel of the Metropolitan Area Planning Council at the second public forum of the Natick Center Plan, February 10, 2016, Natick, MA.
Apache Boulevard Trade Area Market Scan
LISC MetroEdge, a program of the Local Initiatives Support Corporation (LISC), works in urban markets nationwide assisting CDCs, local governments, developers and business associations to define their market potential and develop and implement strategies to achieve that potential.
Final presentation of the American Institute of Architects' Sustainable Design Assessment Team (SDAT) to the community of Oakland, Maryland on strategies for downtown revitalization. November 2016.
Chicago TREND (Transforming Retail Economics of Neighborhood Development) combines innovative predictive analytics, deal brokering and financial products to support "retail on the leading edge" of emerging neighborhood markets. The new initiative - including partnerships with ICSC, Nielsen, Econsult Solutions and leading retailers and developers - aims to enable retailers, developers, investors and neighborhoods to better target particular types of retail to specific changing neighborhoods offering retail opportunity that will help drive the neighborhood change. The initiative is led by Lyneir Richardson. To discuss potential retail development and partnership opportunities, please contact him at lyneir@rw-ventures.com.
Changing consumers and competition are providing 21st century commercial districts with exciting opportunities for innovative retail, services, hospitality, housing and work space. These changes provide opportunities for new products and services that complement downtown’s history, unique character and sense of place. An understanding of the market is a prerequisite for evaluating the economics of these opportunities. This session will provide instruction on how a community study group can use the Downtown and Business District Market Analysis toolbox (http://fyi.uwex.edu/downtown-market-analysis/) to create a forward-thinking economic development roadmap. Participants will be “put to work” through exercises related to trade area determination, demographics and lifestyle analysis, survey and focus group techniques, and business demand/supply analyses. Participants will learn how these tools can lead to business retention, expansion, recruitment, and other action steps. Examples of how various communities are using the toolbox will be discussed.
Positioning Your Neighborhood for Economic DevelopmentRWVentures
Delivered by RW Ventures, Chicago TREND and the Columbus Metropolitan Housing Authority, this pair of training sessions were designed to help communities pursuing retail, industrial land use, small business or other economic development projects think more strategically about how those efforts can align with and leverage other local development activities. The morning session used a case study from Columbus to illustrate how the viability of a retail project can be informed and enhanced by interrelated strategies to revitalize the surrounding neighborhood. The afternoon session used an industrial land redevelopment case study from Atlanta to explore how to connect regional industrial opportunities to neighborhood assets and development - sometimes referred to as "economic place-making."
Tim Reardon, Assistant Director of Data Services of the Metropolitan Area Planning Council testifies at a hearing of the Massachusetts Joint Housing Committee.
ZGB - The Role of Generative AI in Government transformation.pdfSaeed Al Dhaheri
This keynote was presented during the the 7th edition of the UAE Hackathon 2024. It highlights the role of AI and Generative AI in addressing government transformation to achieve zero government bureaucracy
This session provides a comprehensive overview of the latest updates to the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (commonly known as the Uniform Guidance) outlined in the 2 CFR 200.
With a focus on the 2024 revisions issued by the Office of Management and Budget (OMB), participants will gain insight into the key changes affecting federal grant recipients. The session will delve into critical regulatory updates, providing attendees with the knowledge and tools necessary to navigate and comply with the evolving landscape of federal grant management.
Learning Objectives:
- Understand the rationale behind the 2024 updates to the Uniform Guidance outlined in 2 CFR 200, and their implications for federal grant recipients.
- Identify the key changes and revisions introduced by the Office of Management and Budget (OMB) in the 2024 edition of 2 CFR 200.
- Gain proficiency in applying the updated regulations to ensure compliance with federal grant requirements and avoid potential audit findings.
- Develop strategies for effectively implementing the new guidelines within the grant management processes of their respective organizations, fostering efficiency and accountability in federal grant administration.
Jennifer Schaus and Associates hosts a complimentary webinar series on The FAR in 2024. Join the webinars on Wednesdays and Fridays at noon, eastern.
Recordings are on YouTube and the company website.
https://www.youtube.com/@jenniferschaus/videos
Preliminary findings _OECD field visits to ten regions in the TSI EU mining r...OECDregions
Preliminary findings from OECD field visits for the project: Enhancing EU Mining Regional Ecosystems to Support the Green Transition and Secure Mineral Raw Materials Supply.
Presentation by Jared Jageler, David Adler, Noelia Duchovny, and Evan Herrnstadt, analysts in CBO’s Microeconomic Studies and Health Analysis Divisions, at the Association of Environmental and Resource Economists Summer Conference.
Donate to charity during this holiday seasonSERUDS INDIA
For people who have money and are philanthropic, there are infinite opportunities to gift a needy person or child a Merry Christmas. Even if you are living on a shoestring budget, you will be surprised at how much you can do.
Donate Us
https://serudsindia.org/how-to-donate-to-charity-during-this-holiday-season/
#charityforchildren, #donateforchildren, #donateclothesforchildren, #donatebooksforchildren, #donatetoysforchildren, #sponsorforchildren, #sponsorclothesforchildren, #sponsorbooksforchildren, #sponsortoysforchildren, #seruds, #kurnool
Jennifer Schaus and Associates hosts a complimentary webinar series on The FAR in 2024. Join the webinars on Wednesdays and Fridays at noon, eastern.
Recordings are on YouTube and the company website.
https://www.youtube.com/@jenniferschaus/videos
Jennifer Schaus and Associates hosts a complimentary webinar series on The FAR in 2024. Join the webinars on Wednesdays and Fridays at noon, eastern.
Recordings are on YouTube and the company website.
https://www.youtube.com/@jenniferschaus/videos
Monitoring Health for the SDGs - Global Health Statistics 2024 - WHOChristina Parmionova
The 2024 World Health Statistics edition reviews more than 50 health-related indicators from the Sustainable Development Goals and WHO’s Thirteenth General Programme of Work. It also highlights the findings from the Global health estimates 2021, notably the impact of the COVID-19 pandemic on life expectancy and healthy life expectancy.
Reading Strategic Economic Development Action Plan Part 1
1. Town of Reading
Strategic Economic Development Action Planning
Public Meeting
Wednesday, April 1, 2015, 6:30 – 9:00 pm
Sponsored by the Town of Reading and the Metropolitan Area Planning
Council (MAPC) with funding provided by the Massachusetts District Local
Technical Assistance Program and Town of Reading resources
2.
3. Agenda
7:00 – 7:05 pm: Welcome and Introductions
7:05 – 7:20 pm: Goals for Tonight and Overview
7:20 – 7:50 pm: Retail, Office, and Residential
Market Potential in Reading
7:50 – 8:55 pm: Design and Density Preference
Discussion and Keypad Polling
8:55 pm: Next Steps and Next Meeting
6. Project Goal
Produce a Strategic Economic Development Action Plan
for the Town, which will include a focus on how four
regionally significant priority development areas (PDAs)
can be built out to support local and regional housing
and economic development goals
PDA_1: Downtown 40R District – Potential Expansion
PDA_2: South Main Street
PDA_3: New Crossing Road Redevelopment District
PDA_4: 1 General Way
7. • Market analysis identifying potential for retail,
office, housing, and mixed use at the regional PDAs
• Alternative development scenarios analysis for
each regional PDA that will estimate potential
additional square feet of commercial floor area,
dwelling units, etc.
• Action Plan for the four regional PDAs that identifies
potential suitable development types, findings from
the market analyses, and policy and planning
recommendations to facilitate redevelopment of the
PDAs – delivered by June 2015
Project Scope
8. Local Partners
Our local Advisory Committee, which is providing early
input on components informing the Action Plan, includes:
• Town Manager Bob LeLacheur, Assistant Town
Manager Jean Delios, and Community Development
Administrator Jessie Wilson
• Selectman John Halsey; Selectman Kevin Sexton,;
members of the Economic Development Committee
including Karl Weld, Meghan Young-Tafoya, and Jack
Russell; and Lisa Egan from the Reading-North
Reading Chamber of Commerce
9. • Town staff identified local priorities for development
and preservation. Town then identified the specific
development types they thought each priority
development area could be suitable to accommodate.
o Options: mixed-use: infill; mixed use: master
planned; multifamily; commercial: medical/office;
commercial: retail, entertainment, hospitality;
commercial: industrial
• MAPC assessed suitability of PDAs for accommodating
different development types using available data
Identifying Priority Development Areas: The North
Suburban Planning Council Priority Mapping Project
10. Data used to examine each PDA’s suitability to
accommodate different development types
1) Travel choices: proximity to CR, MBTA, and RTA bus
service; percent of non-auto commutes, interchange
proximity
2) Walkable communities: sidewalk availability,
walkscore, bike/ped lanes and paths, high traffic
roadway proximity, walkable schools, block size
3) Open spaces and 4) healthy watersheds: rare species
priority habitat, core habitat and critical landscapes,
agricultural land use, undeveloped land, developable
land, aquifer recharge areas, surface water supply, 100
and 500 year flood zones
11. Data used to examine each PDA’s suitability to
accommodate different development types
5) Current assets: number of businesses, population and
employment density, inverse population and employment
density, sewer service areas
6) Growth potential: recent and proposed developments,
additional housing units, additional employment, 40R
districts, 43D districts
13. PDA #1: Proposed 40R Expansion Area
This nine-acre area consists of 46 parcels and is
adjacent to the current 40R District. The Town would like
to expand the 40R zoning to include these parcels.
14. PDA #2: South Main Street
This 26-acre area consists of 82 parcels
located south of the downtown. The Town
wishes to enable mixed use in this area to
allow for more retail and residential and
to facilitate streetscape and road
reconfigurations that will enhance the
street for pedestrians and bicyclists.
15. PDA #3: New Crossing Rd Redevelopment District
This 5-acre area consists of four parcels and includes
vacant lots, derelict buildings and sites with industrial uses.
The area is zoned for industrial use. The Town is interested
in pursuing a change in zoning to facilitate other uses.
16. PDA #4: 1 General Way
This 20-acre area is one large parcel with a mix of
single-story commercial uses and ample parking. The
Town is interested in facilitating a more vibrant mix of
uses and structures of different densities in this area.
26. Interview Highlights
Retailers
• Most retail businesses were doing well.
• Not a lot of retail turnover & low vacancy in
downtown.
• Rents are competitive.
• Downtown parking is confusing.
• Town could be more business friendly and further
streamline business permitting process.
• Residential would be good for business.
27. Interview Highlights
Commercial Brokers
• Potential for additional small professional offices
downtown.
• Potential for limited new office development.
• Market for retail is mostly small local stores.
• Strong regional retail and office competition.
• Reading has strong community/demographics.
Residential Brokers
• Single Family (or alternatives) Market is strong
• Demand for well-located multi-family housing
30. Retail Gap Analysis
Downtown and Mixed-Use Oriented Industry
Groups NAICS
PRIMARY
TRADE
AREA
SECONDARY
TRADE
AREA
10-minute
drive time
15-minute
Drive Time
Furniture & Home Furnishings Stores 442 X X
Electronics & Appliance Stores 443 X X
Building Materials, Garden Equip. & Supply 444 X 1
Food & Beverage Stores 445 1 2
Health and Personal Care 446,
4461
2 1
Clothing & Clothing Accessories 448 X X
Sporting Goods, Hobby, Book and Music Stores 451 X X
Miscellaneous Store Retailers 453 2 3
Food Services & Drinking Places 722 1 11
Total N/A 6 18
31. Retail Market Opportunities
• Fill in downtown vacancies
(Quizno’s, Walgreens)
• Concentrate majority of new retail
in downtown and Northern end of
South Main Street corridor.
• Focus on restaurants in downtown
to elevate the area as a dining
destination.
• Opportunity for some additional
retail with greater residential
density.
Source: Reading Shop the Block
33. Office Outlook
North 128/Mass Pike Suburbs
Supply (million s.f.) 10.9 SF 20.1 SF 89.0 SF
% Class A 47.10% 58.20% 58.80%
Average Asking Rent $20.43 $28.99 $20.99
YoY Rent Growth 3.10% 3.20% 2.00%
Total Vacancy 15.60% 10.30% 18.80%
YoY Change (ppts) -2.1 -3.1 -2
Historical Average (%) 17.20% 14.60% 17.70%
Total Absorption 171,875 199,241 572,428
as % stock 1.60% 1.00% 0.60%
Historical Annual Average 136,819 326,246 770,050
Total Availability 18.70% 14.20% 21.60%
y/y Change (ppts) -0.73 -1.64 -1.12
Historical Average (%) 19.50% 16.80% 20.10%
Source: Jones Lang LaSalle, Office Outlook, Boston North Q3, 2014
34. NAICS Industry Projections
Industry
Employment
2012
Employment
2022
Change
Level
Change
Percent
Information 15,931 17,902 1,971 12.40%
Publishing Industries (except Internet) 8,648 10,402 1,754 20.30%
Telecommunications 3,289 3,176 -113 -3.40%
Data Processing, Hosting and Related Services 1,798 1,874 76 4.20%
Finance and Insurance 13,195 14,059 864 6.50%
Credit Intermediation and Related Activities 6,234 7,052 818 13.10%
Insurance Carriers and Related Activities 5,349 5,464 115 2.10%
Real Estate and Rental and Leasing 4,612 4,857 245 5.30%
Real Estate 2,927 3,272 345 11.80%
Professional, Scientific, and Technical Services 52,593 63,647 11,054 21.00%
Professional, Scientific, and Technical Services 52,593 63,647 11,054 21.00%
Management of Companies and Enterprises 5,924 6,577 653 11.00%
Management of Companies and Enterprises 5,924 6,577 653 11.00%
Administrative/Support/Waste Management/Remediation 23,499 24,872 1,373 5.80%
Administrative and Support Services 22,446 23,581 1,135 5.10%
Waste Management and Remediation Service 1,053 1,291 238 22.60%
Educational Services 46,877 51,021 4,144 8.80%
Health Care and Social Assistance 51,021 62,116 11,095 21.70%
Total 213,652 245,051 31,399 14.70%
35. Office Market Opportunities
• Small professional offices in
downtown and South Main Street
Area
• New office space as part of new
development on larger parcels at
One General Way or New
Crossing Road
• Build to suit would be greatest
potential at One General Way
• Large office tenant supported by
regional market but strong
competition.
Source: Loopnet.com
37. 0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
20-34 35-54 55-64 65+
Household Projections by Age of Householder
2010 - 2030
2010 HHs 2020 HHs 2030 HHs
Household growth will drive housing demand
• Over 1,900 additional households projected by 2030.
• Senior households will grow significantly (+75%)
• Young professional-aged households (+20%)
• Seniors and Millennial housing preferences align
38. Growing rental demand?
Reading is a majority ownership housing market.
2012: 81% owners, 19% renters
Since 2000, slight shift towards more renter households.
Driven primarily by younger households
2000 2013 Change
# % # % # %
Owner Occupied 7,165 83% 7,430 81% 265 4%
Rental Occupied 1,523 17% 1,734 19% 211 14%
Total 8,688 9,164 476 6%
39. Condominiums increasingly popular
Condominium development up.
Over 450 more (net) condos 2000-2015
Single family up, but down as total % of properties
Limited land available for development
Source: Mass DOR, Division of Local Services
*2009 latest year data is available
Single Family Multi Family Condos Apt
# % # % # % # %
2000 6,440 78.8% 395 4.8% 649 7.9% 29 0.4%
2015 6,528 76.7% 350 4.1% 1113 13.1% 36 0.4%
Change 88 -2.1% -45 -0.7% 464 5.2% 7 0.0%
Parcel Counts by Property Class
40. Home sales and prices at all time highs
Condominiums
# of sales up 256% since 2008
prices up 33% since 2008
Single Family
• # of sales up 42% since 2008
• Prices up 21% since 2008
$0
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
Sales Prices: 2000 to 2014
1-Fam Condo All
0
50
100
150
200
250
300
350
400
450
500
20002001200220032004200520062007200820092010201120122013
Number of Sales: 2000 to 2014
1-Fam Condo All
41. Broker Comments
• Single family is in highest demand
• Schools a big draw, but student population
projected to decline
• Condo market is strong and growing
• Upscale with 2 beds most in demand (small
households)
• People tend to move away once kids are out of school
• Some older people downsizing leave Reading
because don’t like location of condos in town
• Many feel existing condos on the outskirts
42. Broker Comments
• Commuter rail station a draw for those looking in
Reading
• Little new single family construction
• Anything affordable is highly desirable
• Rentals come and go quickly = demand for more
• Current inventory is older, with few exceptions
(Haven Street)
43. Residential Market Opportunities
• High Opportunity for residential town wide
– 950 potential total units (town wide) over next 5-10
years (based on MAPC household projections)
• Majority of new unit development will likely
continue to be ownership units
• Limited vacant land limits single family construction
• Most development will be infill/redevelopment
• Strong demand for housing in or near downtown
– Seniors not interested in downsizing to outskirts of town
– Younger HHs prefer walkable environments
44. Study Areas Residential Opportunity
Priority Development Areas: 5-10 years
• Up to 410 Units
- Multifamily: 300 units
- condominiums and rentals
- Single-Family (Alternatives): 110
46. 1-B
1-A
Retail
• Concentrate first on filling vacancies
-Health & Personal Care/
Specialty Grocery/Used
Merchandise
Restaurants
• Potential to Draw In a More
Regional Customer Base on Main &
Haven Street.
Residential
• Multi-Family Development At Site
1-B & Multi-Family Infill throughout
1-A
Office
• Small Office Space for Professional
Services on Upper Floors of Mixed
Use Developments.
PDA#1: Downtown 40R
Potential Expansion
Market Opportunities
47. Retail
• Redevelop underutilized
retail parcels into mixed-use
with residential above.
• Phase new commercial as
more residential is added
over time.
Residential
• Focus new Multi-Family in
north end of corridor to
benefit from proximity to
train station.
Office
• Small professional office
spaces in north end of
corridor.
PDA #2: South Main Street
Market Opportunities
48. PDA #3: New Crossing Road
Redevelopment District
Market Opportunities
Residential
• Multi-family development
supportive of nearby
commercial.
• Single-family alternatives
(row houses) as part of a
larger project.
Office
• Industrial nature of site may
allow for more creative mix
of office flex space as part
of development
49. Office
• Build to suit office space
Residential
• Multi-Family & Single
Family Alternatives
Mixed-use area
• Live-Work-Play: today’s
workers prefer walkable,
mixed-use environments
PDA #4: 1 General Way
Market Opportunities