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Letter Agreement for Downtown Redevelopment Market Analysis <br />City of Centerville <br />January 12, 2023 <br />Page | 2 <br /> <br /> Centerville Retail Market Study <br /> 2040 Comprehensive Plan <br /> 2022-2023 City Council Strategic Plan <br /> 2022-2024 Economic Development Authority Strategic Plan <br />2. Interview relevant city officials. <br />3. Set up online form/survey for community input and determine with city staff the best way to <br />promote the community input. <br />4. Summarize community input. <br /> <br />Site Analysis <br />1. Complete site analysis of the study area, examining and discussing the following attributes: <br /> Visibility <br /> Access to the site <br /> Quality of transportation corridor(s) <br /> Adjacent uses <br /> Proximity to key demand drivers <br />2. Provide traffic counts at key intersections. <br />3. Discuss potential uses at each of the sites based on the site analysis. <br /> <br />Demographic Analysis <br />1. Define market areas for owner-occupied, rental, and senior housing in the study area. <br />2. Provide map of market area(s). <br />3. Gather and summarize key demographic data: <br /> Total population and number of households, 2022 and 2027 (data for 2022 are estimated <br />and data for 2027 are forecasted) <br /> Income by age of householder, 2022 and 2027 <br /> Homeownership by age of householder, 2019 <br /> Median home value, 2022 <br />4. Define trade area for retail. <br />5. Provide map of trade area. <br />6. Gather and summarize key demographic and economic data: <br /> Commute shed data, 2019 <br /> Daytime population, 2022 <br /> Consumer spending in key categories, 2022 and 2027 <br />7. Provide thematic maps of study areas. <br /> <br />#®¬¯¤³¨³¨µ¤ !­ «¸²¨² ȟ 2¤²¨£¤­³¨ « 5²¤² <br />rd <br />1. Discuss available 3 <br /> party data or studies on the current housing market. <br />2. Profile up to three townhome or condominium developments in or near the market area. Collect data <br />on pricing, unit sizes, occupancy, and features and amenities. <br />3. Profile up to three general-occupancy multifamily developments and up to three affordable rental <br />housing developments in or near the market area. Collect data on rents, unit sizes, occupancy, and <br />features and amenities. <br />4. Profile up to five independent living, assisted living, or memory care assisted living developments in <br />or near the market area. Collect data on rents, services, unit sizes, occupancy, and features and <br />amenities. <br /> <br />