May 2009

Best Practices

Evolving Public Sector-Private Sector Partnerships

With retail developers facing difficult financial markets, it is becoming increasing popular to seek public sector participation in sharing the inherent risk of new developments by providing more incentives and financial assistance from communities.

Public sector/private sector partnerships (PPP) and communities’ active participation are not new to retail development.  What has changed is the increased levels communities are asked to commit especially in times of limited resources.  It is a tough challenge but communities are responding by taking a more aggressive role as a participating partner and demanding more say in the development.  Here are ways that communities are exerting their expanded role in the PPP:

Design Standards-The typical square, big box may not be aesthetically pleasing so communities are requiring design standards that better reflect the community’s vision and desires.

Amy Wetzel will be speaking on PPP during the Retail Trends and Predictions panel at ICSC RECon. The panel takes place Tuesday, May 19 at 9:15 am in the Las Vegas Convention Center Room S230-S232.

Read more on Private Sector -Public Sector Partnerships

Success Filling Empty Boxes

Buxton has helped a number of communities trying to fill empty big boxes. Salinas, California successfully filled an old Mervyns location with Forever 21, a clothing store for teens and young adults.

The following is an excerpt from The Californian newspaper:
Jeffrey Weir, the city's economic development director, provided some good news with the grand opening of Forever 21 on March 20 in the former Mervyn's site at Northridge Mall.

Mall officials reported about 500 people were waiting in line before the store opened its doors, Weir said.

He said the clothing store was identified in a retail analysis that Fort Worth-based Buxton Co. provided last year for opportunities to generate sales tax revenue. The report stated that the city loses about $2.3 million in possible sales tax revenue annually because people choose to go elsewhere to shop.

"We really do expect (Forever 21) will be enhancing the retail sales tax," Weir said.

Read the entire article.

Resources

Buxton will be hosting a webcast titled “Positioning Your Community For Retail: Recruiting The Retail Developer Partner” with the Texas Municipal League on June 24.

By forging alliances with retail developers many communities have discovered they can maximize their retail potential.  Participants in this webcast will gain insight into the requirements for a successful partnership with retail developers, as well as learning practical methods for ensuring top performance.

To sign up for this Texas Municipal League webcast, follow this link: http://www.tml.org/ed_webinar_retail.html

2009 ICSC RECon
May 17-20, 2009
Come by Booth 2000
Meet with us at ICSC RECon in Las Vegas

2009 Town & Gown Conference
June 1-4, 2009

2009 CALED Community Retail Retention & Development Summit
June 4-5, 2009
Menlo Park, CA
Register for this Event

Texas Municipal League Webinar: Positioning Your City for Retail
June 24, 2009
10:30 am CT
Register for this Event

 
 

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More affordable space leads to out of the box retailing

While some retailers are shutting their doors, leading to ever growing dark spaces in community store fronts, others are taking advantage of the lower lease rates these vacancies leave in their wake. Retailers still in expansion mode are beginning to adapt their plans to include this existing space, in some cases adapting their models to include new approaches to meet the desires and needs of the consumer.

Click here to Read More

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