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Jamestown MallSt. Louis County, Missouri
Presenta tion to :St. Louis County
and St. Louis County Economic Counc ilSeptember 25, 2009
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Panelists:
Ab by FerrettiPartners for Ec onomic s SolutionsWashing ton, DC
Donna LewisMerc er CountyTrenton, NJ
Sc ott Ha ll
Virg inia Beac h Dep artment o fEc onomic Develop mentVirg inia Beac h, VA
Chuck BerlingBerling Equities, LLCMorrison, CO
Arun Ja in
Design ConsultantPortland , OR
Dan Quinto
Roaring Brook Deve lopment Co.Colleyville, TX
Dr. Philip HartHart Rea lty Advisors
Los Ang eles, CA
Ray BrownRay Brown Consulting
Memphis, TN
Chair:Ray BrownRay Brown ConsultingMemphis, TN
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Und ersta nd existing c ond itions
spend ing hab its/ pa tterns reta ilrents/ p ric ing - offic e & residentia l
Determine type a nd amount of c ommerc ia lRetail
OfficeOther c ommerc ia l
How many new units & what type ?
Purpose of Market Ana lysis
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Addressing Myths
Itsdangerousatthe
JamestownMallwithgangs
ofteenagers.
Wehavemoneyandcan
support
the
Jamestown
Mall
iftherightstoreswerethere.
More multifamily/
apartmentsmeansbig
problemsforourcommunity.
Ifthestorescomepeoplewillshophere.
Wearecheatingon
JamestownMall
ifwe
shop
at
theGalleria&othermalls.
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Existing Cond itions
$61,200 Med ian HH Inc ome 170,000 residents
8.7 % unemployment ra te
1973 PMA TMA
SMA
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Reta il Demand
RegionalMalls StandardNeeds NorthCountyResidents 200,000
250,000 170,000
AreaWorkers 180,000+/ Lessthan80,000
Traffic(ADT) 30,000+ 20,000
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Mall Competition
1974-- St. Claire Square1976 -- Chesterfield Mall1978 Alton Square1986 -- St. Louis Galleria
1987 -- Mid Rivers Mall2003 -- St. Louis Mills
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TotalRetail
SupplyTotalRetail
Demand
TotalUnmet
RetailDemand=
Measuring Reta il Potentia l
SurplusSupply
TOOMUCH
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Customer Trade Areas
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Lindbergh Plac e Wha t s Possib le??
New sit-down resta urants
New furniture or home furnishing s storesA stand-a lone or c enter-opera ted pharmac y withurgent c a re med ic a l servic es
Spec ia lty groc er with beer and wine sa les
A yea r round farmer s market; and
Other reta il opportunities.
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Surp lus of Sup p ly for spec ula tive offic e
Overa ll 15% perc ent vac anc y
Office
Always potentia l
Institutiona l user
Neighborhood servic e
Bac k offic e opera tions
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Low-rise renta l build ings - garden and seniorcomplexes
Sing le Family Homes - High $200,000 to $400,000
Residentia l Inventory
Villas / a ttac hed
Senior ac tive living
Ownership lofts over
retail
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The Ac tua l Story
There is a market!
Lind bergh Plac e will reorient itself to meet theneeds of:
Existing residents (families, young p rofessiona ls,seniors)New residents,
Existing emp loyees,New emp loyees,
Students
And the b roader business c ommunity (reta ilers,offic e users, institutions)
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BREAKING THE STATUS QUO!
Ineffic ient Sa les Tax System/ Fragmented Loc a lGovernment
Unsusta inab le development p rac tic es
Can be Overc ome
Identify new revenue a nd fund ing sourc es Be stra teg ic in using tools
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Two Plan Solution
Coordinated Vision
Acrossjurisdictions
Participation from Local
Residents
Broad strategic
approach is notsufficient!
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Coord ina ted Vision
Two Plan Solution
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Detailed Development Plan
Set the Standards Be Spec ific (size, density, use,programming, community involvement)
Control the Process Seek out best possib le development
partner Create most advantageous financ ingprogram Keep foc us on successful
implementation
Two Plan Solution
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Gain c ontrol of the land
Demolish theJamestown
Mall
Insta ll initia l
infrastructure
Crea te key pub licp lac es in ac c ordance
with the p lan
County Primes the Pump
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Designed for and Welc oming
to Everyone
Meets Shared Community
Needs Plac e of CommunityOwnership
Safe & Comfortab le Dynamic Programming &Tec hnology Built fo r All Genera tions Genera tes Jobs
A Grea t Plac e
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Ec onomic Eng ine
Estab lish Sma ll BusinessDevelopment Program
Assist From Inc ub a tor to
Sustainability Provide Small ProfessionalOffic e Spac e
Esta b lish Reta il Deve lopmentProgram
Coord inate a FragmentedProc ess
Crea te New BusinessOpportunities
Hea lthc a re Servic es Recreation AthleticTourna ments
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Ec onomic Eng ine
Environmenta l Eng ineeringTec hnology Center
Research Education Applied Engineering Combines with North Distric t
Green Tec hno logy Initia tive
Not Found Anywhere Else
Belongs to YOU!
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The panel s goa l:
Insp ire the c ounty andthe c ommunity totransform a dying ma ll
and site to a vib rant,mixed-use c ommunitydevelopment.
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Suggest synergisticpotentia l land uses tha t
c an inc luded in the VisionPlan for the futureLindbergh Plac e:
1. Senior living andactivities
2. Lifestyle andboulevard shopp ing
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3. Professiona l, sma llbusiness offic es
4. CommunityRec rea tion Venues
5. Family-oriented and
organized ac tivities6. Youth fac ilities and
organized ac tivities7. Child day ca re
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8. Med ic a l andhealthcare
9. Enterta inment andfood
10. High-tec h c enter
11. Sma ll businessincubator
12. Agric ulture and afarmer s market
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Propose tha t the County aggressively andproac tively take the lead by:
1. Using their eminent doma in powers totake control and ownership of theproperty
2. Build a North County Distric t Offic ebuild ing and infrastruc ture as the firststeps in a new and exc iting journey ofrenewa l in this a rea .
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ImaginingLindbergh
Place
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A b ig , & unique vision for the c ommunitys identity
A b asis for growth & reinforc ement
Cumula tive & adap tive change
Integration
Crea ting a p lac e to b e
Five
Ideas
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ThePlan
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The
Plan
TheGreen
NorthCounty
DistrictOffice
DayCare
AssistedLiving
TheScreen
TheY
Environmental
GreenTech
IceHockey
Pond
Movieplex
FarmersMkt
Agriculture
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The
Plan
TheScreen
Campanile
TheGreen
NorthCounty
DistrictOffice
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Imagine
A
day
of
your
life
in
Lindbergh
Place
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Morning
coffee
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Walking
around
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The
Market
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Lunch
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A
Green Break
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Sunday
Afternoon
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The
Screen
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Evening
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Pond
Ice
Hockey
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Be
Brave
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ImagineLindbergPlace!
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Questions?