Presentation on theme: "EDOs & Retail Development A New Type of Ombudsman April 10 th, 2014."— Presentation transcript:
EDOs & Retail Development A New Type of Ombudsman April 10 th, 2014
EDOs & Retail Development – A New Type of Ombudsman Introduction Who the heck is Cushing Terrell? What can and should an EDO be doing? Look to your Peers? City of Spruce Grove City of Lethbridge City of Grande Prairie Final Thoughts? How do we find some new “targets”
WHO THE HECK IS CUSHING TERRELL? Multi-disciplinary architectural, engineering and planning firm est Employees (95+ LEED) Retail / Industrial / Commercial / Ranch Resort / Education / Health Care Vancouver, BC; Regina, SK; and 15 other locations across US Top 250 Architectural Firms - Architectural Record 300 Giants - Top 50 Architectural & Engineering Firms - Building Design & Construction
What & who are you waiting for? Being proactive is essential
I guess we’re safe for now, but why Nanaimo? I heard Cabela’s is going to Nanaimo? How well do you really know your market? Why do tenants choose one location or city over another?
Validate the Anecdotal Understand your market and your market will understand you! Just because you know a market, doesn’t mean other developers, investors or tenants do! “Objective Cheerleading”
Surprise people with “light bulb” moments Demographics are easy, but what else can you provide that isn’t generic, has value and can validate the opportunity?
Competition for Developer, Investor & Tenant $$$$ You’re not the only one with an opportunity! BE PREPARED
Reach out and put a face to names or companies Give your municipality leverage and create awareness
Have a strategy for being proactive Cities of Canada Pavilions ICSC Whistler ICSC Toronto ICSC Montreal ICSC Las Vegas
Have a strategy for being proactive Urban Land Institute
Navigate the Process – We can all use a little help
Look to your Peers
When Opportunity Knocks – Spruce Grove is Ready Gateway (Westwind) Market Analysis Retail Gap Analysis Industrial Profile Analysis Economic Benefits & Impacts Demographic Profile Study Consumer Intercept Survey
City Due Diligence to Developer Acquisition to Leasing Gateway Town Centre Spruce Grove, AB Market Study & Positioning Strategy Prepared for: The City of Spruce Grove October 2009 Final Prepared by: MXD Development Strategists, Ltd.
Developers/Investors have many tentacles MADISON DIAMOND SHEP YELLOWHEAD SPRUCE GROVE INDUSTRIAL PARK CAMPSITE BUSINESS PARK PHASE 1 PROPOSED PHASE 2 PROPOSED PHASE 3 PUBLIC WORKS QUARTER FUTURE POTENTIAL FUTURE POTENTIAL It isn’t always about Retail Principles apply to all land uses
Industrial Profile Example
Businesses love to cluster 107 acres 37 businesses 680 Employees 900 sf / employee
Look to your Peers
A collaborative effort to maximize value & return Source: MXD Development Strategists Ltd.
A Proactive Process Leads to Success Attended ICSC Whistler Conducted a Market Analysis Created a Conceptual Plan Identified 5 or 6 target developers Prepared a Request for Qualifications
Source: MXD Development Strategists Ltd. Assess, Identify, Define and Validate the Value Proposition
A Proactive Process Leads to Success Short-Listed Target Developers Prepared a Request for Proposals Evaluation Procedure Negotiations Entire process was new for the City Education & Learning Curve Council Transition - Elections
Connecting the dots beginning to end ROYOP selected in partnership with Residential developer to prepare a Comprehensive plan that responds to the spirit and vision of the ASP.
Look to your Peers
RETAIL PROJECTS Become a liaison between developers, tenants & brokers Don’t just hunt for big game. Know your sites, know your target markets
RETAIL INVENTORY BY CATEGORY & SECTOR Retail – How Much, Where and What Type…Do you know?
RETAIL INVENTORY SECTORS Retail Supply Total City – 3.5 million sf NORTH 1.4 million sf SOUTH 305,000 sf EAST 64,000 sf WEST 1.4 million sf CENTRAL 395,000 sf
Density of Respondents Map Where are your customers really coming from? Get to know your city’s customers like a retailer would its own.
FULL-SERVICE RESTAURANTS DESIRED TOP 5 verbal responses 82 - Red Lobster 78 - Olive Garden 21 - Montana’s *** 11 - Cactus Club 7 – Outback & Old Spaghetti TOP 5 verbal responses 41 – Toys R Us 37 - IKEA 30 - Chapters/Indigo 29 - American Eagle 24 - Sport Chek What do your customers want?......ASK THEM!
Final Thoughts….. Be Proactive Be Prepared Be a Resource Do the Due Have a Strategy Know your Markets Reach Out Raise the Bar Create Leverage Liaise Liaise Liaise
I don’t always have the answer But when I do, it’s because I talked to the City’s EDO
Kieron Hunt Director of Canadian Operations Thank You (and enjoy the Masters Golf!) c o Credits: Cushing Terrell Architecture Inc. Kasian Architecture WAM / Beaverbrook Developments Royop MXD Development Strategists Inc Cushman Wakefield City of Grande Prairie City of Spruce Grove City of Lethbridge