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February 4, 2009 Mississippi Lakes Symposium Demographic Overview Sardis Lake, Mississippi.

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Presentation on theme: "February 4, 2009 Mississippi Lakes Symposium Demographic Overview Sardis Lake, Mississippi."— Presentation transcript:

1 February 4, 2009 Mississippi Lakes Symposium Demographic Overview Sardis Lake, Mississippi

2 Mississippi Lakes Symposium Slide 2 David Nissenson Waterfront Developments

3 Mississippi Lakes Symposium Slide 3 David Nissenson Opportunities and Market Sources Waterfront Development Commercial Residential Primary Residence Seasonal / Vacation Residence Development Uses Primary Market Sources Recreation and Entertainment Resort / HotelRetail Baby BoomersOther Visitors / Tourists Area Residents HH Income > $100,000++ Inter and Intra-regional Migration Median Home Value + Premium Your Project

4 Mississippi Lakes Symposium Slide 4 David Nissenson Major Lake Resources in Mississippi Arkabutla Enid Grenada Okatibbee Ross Barnett Sardis

5 Mississippi Lakes Symposium Slide 5 David Nissenson National Association of Realtors (Survey of Second Home Owners-2006)  Median age: years (45-74 years~70%)  Married couples: 75-83%  Couples w/o children at home: 70-75%  Ethnicity: 85-95% white  Primary residence w/in 300 miles: 60% (25% over 1,000 miles)  Drive to second home: 82%  Detached single-family: 41% (versus 61% for primary)  Value of home less than primary residence: 68%  Purchase new: ~1 out of 4  Owner use (median): 39 days  2004: Good investment choice - 92%; Bad/don’t know – 8%  2005: Good investment choice - 82%; Bad/don’t know – 18%

6 Mississippi Lakes Symposium Slide 6 David Nissenson Demographic Overview

7 Mississippi Lakes Symposium Slide 7 David Nissenson Proximity Market Areas

8 Mississippi Lakes Symposium Slide 8 David Nissenson Second Homes (By Numbers)

9 Mississippi Lakes Symposium Slide 9 David Nissenson Second Homes (By Percent Share)

10 Mississippi Lakes Symposium Slide 10 David Nissenson Characteristics of Successful Waterfront Developments  Physical Attributes  Location, location, location  Natural land characteristics  Shoreline configuration  Year-round access and use  Climate  Cultural Aspects  Authenticity  Historic characteristics  Symbolic value/meaning  Architectural character  Landscape character  Maintenance  Amenities, appropriate and correctly scaled Source: New York State DOS Division of Coastal Resources; PPS; ERA|AECOM;  Economic/Demographic Variables  Age distribution  Population growth  Households  Household income  Median home value  Housing tenure Owner Occupied Renter Occupied Vacant  Scenic Qualities  Length and breadth of views  Views to site/land  Adjacent uses  Focal points (clustered experiences)

11 Mississippi Lakes Symposium Slide 11 David Nissenson % Own Homes32% Rent Homes U.S. Household Base

12 Mississippi Lakes Symposium Slide 12 David Nissenson ESRI LifeMode Groups LifeMode Tapestry Segments Households (millions) % U.S. 1. High Society % 2. Upscale Avenues % 3. Metropolis % 4. Solo Acts % 5. Senior Styles % 6. Scholars and Patriots % 7. High Hopes % 8. Global Roots % 9. Family Portrait % 10. Traditional Living % 11. Factories and Farms % 12. American Quilt % Total %

13 Mississippi Lakes Symposium Slide 13 David Nissenson LifeMode Household Changes

14 Mississippi Lakes Symposium Slide 14 David Nissenson LifeMode Average HH Size

15 Mississippi Lakes Symposium Slide 15 David Nissenson LifeMode Median Age

16 Mississippi Lakes Symposium Slide 16 David Nissenson LifeMode Median HH Income

17 Mississippi Lakes Symposium Slide 17 David Nissenson LifeMode Median Net Worth

18 Mississippi Lakes Symposium Slide 18 David Nissenson LifeMode Median Home Value

19 Mississippi Lakes Symposium Slide 19 David Nissenson LifeMode Home Ownership Rate

20 Mississippi Lakes Symposium Slide 20 David Nissenson Summary of Characteristics

21 Mississippi Lakes Symposium Slide 21 David Nissenson Markets by Location segment distribution

22 Mississippi Lakes Symposium Slide 22 David Nissenson Markets by Location % of US Total

23 Mississippi Lakes Symposium Slide 23 David Nissenson Largest Segments Median Income $150,000 +

24 Mississippi Lakes Symposium Slide 24 David Nissenson Largest Segments Median Income $100,000 to $149,999

25 Mississippi Lakes Symposium Slide 25 David Nissenson Largest Segments Median Income $50,000 to $99,999

26 Mississippi Lakes Symposium Slide 26 David Nissenson Analysis and Opportunities  Strengths  Relatively pristine  Large number of waterfront development opportunities.  Affordability an option (land price)  Warm climate  Less risk from natural disasters  Opportunities  Vast waterfront areas, including rivers, streams and lakes  Optimum size lakes with proximity to economic and urban centers  Primary residences – local market conditions  Integrated, mixed use waterfront development (at best locations.)  Weaknesses  Smaller market  Abundant competitive sites across region  Lower population growth rates, especially in the target age groups  Low average household incomes  Limited number of lakes with optimum scale and size  High levels of vacant and renter-occupied homes  Lacks Unique Selling Proposition (USP)  Not widely recognized at the national level  Financing (everywhere)

27 Mississippi Lakes Symposium Slide 27 David Nissenson Strategies to Move Forward  Developing a waterfront vision – Generate a sense of community ownership of the waterfront and defining its future  Establishing partnerships – Strengthen community involvement and ensure the key players are on board  Taking a look around – Understand your waterfront opportunities, its assets, key issues and opportunities  Developing a strategy – Pull it all together to fulfill your vision  Taking it one step at a time – Implement your vision

28 Mississippi Lakes Symposium Slide 28 David Nissenson David Nissenson Consultant 142 North Abingdon Street Arlington, VA Cell: Contact Information

29 Mississippi Lakes Symposium Slide 29 David Nissenson End of Presentation  Questions and Answers

30 Mississippi Lakes Symposium Slide 30 David Nissenson High Society  11.7 MM Households  10.6% of all households  Nearly one-quarter of all household income  Professionals and management  Well-educated  High levels of home ownership  Mostly married couples  Affluent neighborhoods  Limited ethnic diversity  Civic responsibilities, exercise, financial planning, travel, Internet or print over TV

31 Mississippi Lakes Symposium Slide 31 David Nissenson Upscale Avenues  15.7 MM households  14.2% of all households  Prosperous through hard work  Well-educated  Home ownership varies by personal taste  Invest in their homes  Savers/investors  Leisure activities include golf and bicycling  Partial to new cars

32 Mississippi Lakes Symposium Slide 32 David Nissenson High Hopes  4.7 MM households  4.2% of all US households  Prefer single-family homes  50% own their homes  Mobile  Younger, college-educated  One-third less than 35 years of age  Mix of married couples, single-parent families, and singles

33 Mississippi Lakes Symposium Slide 33 David Nissenson Family Portrait  8.6 MM households  7.7% of all US households  Fastest growing LifeMode  Families w/ Children  Ethnically diverse  30 percent Hispanic  Single-family homes  Large household size  Visit theme parks and zoos  Own minivans or SUV

34 Mississippi Lakes Symposium Slide 34 David Nissenson Traditional Living  10.1 MM households  9.1% of all US households  Middle America  Higher median age  Live in older, slower growing established neighborhoods  Buy American sedans  Belong to fraternal organizations  Rely on traditional information sources for news (newspapers)


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