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<br /> <br />4. Understand the Study Area Market Potential <br /> <br />Need <br />The Small Area Plan must be based on three economic factors: <br />I. Which types of businesses, housing and other land uses are needed <br />to make the study area successful? <br />2. Which land uses could feasibly be attracted, and in what quantities <br />and configurations? <br />3. What physical design attributes (including public improvements) <br />might be necessary for the study area to achieve its full economic <br />potential? <br /> <br />It will be important to understand the market forces affecting the B2 <br />District. How has the Lcxinglon Avenue corridor development affected <br />its potential? How might TCAAP development influence the study area <br />and the sub-region? What should be the target markets(s) for the study <br />area? How should the district position itself in the market place? How <br />do traffic, parking, signage and streetscape improvements affect the <br />district? <br /> <br />Response <br />Our team includes two prominent downtown real estate professionals <br />from Maxfield Research, Mary Bujold and Ryan Bergman. This <br />"economics" element of our team will help us answer the questions <br />posed above. <br /> <br />Related Experience <br />Bujold and Bergman have advised clients across the Twin Cities on <br />commercial and resldential development markets and the financial <br />feasibility of the samc. Recent client cities engaged in development or <br />redevelopment include Maple Plain, Hutchinson, Big Lake, Minneapolis <br />and Champlin. <br /> <br />3-14 Arden Hills Small Area Plan for the 82 District <br />