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<br />District Market Analysis <br /> <br />TABLE 3 <br />SUMMARY OF HOUSING DEMAND IN THE STUDY AREA* <br />2008 to 2020 <br /> <br />Market Rate Apm1ments <br />Affordable Apm1ments <br />Total <br /> <br /> <br />Percent <br />Capturable <br />in study area <br /> <br />Estimated Potential <br />Demand for Units <br />in stud)' area ** <br /> <br />Total Excess <br />Demand for Units <br />in Mkt Area <br /> <br />917 <br />2,057 <br /> <br />228 <br />183 <br />41] <br /> <br /> <br />Adult Rental <br />Adult Ownership <br />Congregate <br />Assisted Living <br />Memory Care <br />Total <br /> <br />389 <br />620 <br />340 <br />202 <br />185 <br />1,736 <br /> <br />200/0 <br />20% <br />20% <br />25% <br />250/0 <br /> <br />78 <br />124 <br />68 <br />51 <br />46 <br />367 <br /> <br />Total Units <br /> <br />778 <br /> <br />* Figures shown are the total number of units that could be supported in the study area. Figures <br />assume that the TCAAP site will be developed as planned. <br />**If TCAAP does not develop as many units as planned, tben the study area could potentially capture a <br />greater percentage of the excess demand. <br /> <br />Source: Maxfield Research, Inc. <br /> <br />Projected Demand for Neighborhood and Specialty Retail <br />Space <br /> <br />Table 4 calculates the amount of neighborhood retail space and Table 5 calculates the <br />amount of specialty retail space (gross leasable area in square feet) supportable within the <br />draw area from household growth alone. <br /> <br />The figures used for the calculations reflect the amount of money spent on consumer <br />goods and services (from consumer expenditure reports from Claritas, Inc.) and the <br />estimated median sales per square foot for neighborhood retail centers (from Dollars and <br />Cents of Shopping Centers, Urban Land Institute). <br /> <br />Also shown in the table is a calculation for "net leakage." Net leakage is the amount of <br />consumer spending for convenience goods and services that is likely to be spent outside <br />of the Retail Market Area. This calculation is based on the proportion of consumer <br />expenditures that can be captured by retail space in the area. We estimate that retail <br />space in the Retail Market Area is currently capturing about 80 percent of the total <br />neighborhood retail expenditures and 60 percent of specialty retail expenditures by <br />residents. The net leakage figures in the demand tables are based on the estimated <br />leakage after new space would be added in the Retail Market Area. Based on the goods <br />currently offered in the Retail Market Area, it is estimated that leakage would gradually <br />decrease if new space were added. ' <br /> <br />20 October <br /> <br />Guiding Plan for the 82 District 3-3 <br />