the retail development crisis: what now? - kelley cnu17
TRANSCRIPT
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The Retail Development Crisis: What Now?
Katharine Kelley
Green Street Properties
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Themes of Future Development
o High quality, urban infill locations with high barriers to entry
o Small and medium quantities of product that can be absorbed by the market on a reasonable schedule to minimize market risk
o Sustainable, walkable projects to satisfy market demand for environmental sustainability
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Sample project: Glenwood Park$150M total project, 28 Acres. Retail component is 50,000 sf.
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Sample project: Post Riverside$122 M total project, 85 acres. Retail component is 25,000 sf.
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Sample project: Post Riverside
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Sample project: Post Parkside
$23 M total project, 2.3 acres. Retail component is 10,000 sf.
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Lesson 1: Retail should be self sustaining
… be externally focused
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Lesson 2: Find someone to obsess about every detail of the retail
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Lesson 3: Build small retail spaces
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Lesson 4: Place retail adjacent to residential in a fine-grained mix
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Lesson 4: Place retail adjacent to residential in a fine-grained mix
(where possible)
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Lesson 5: Seed the retail and generate momentum
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Creating great places…