Market Study of Redevelopment Opportunities Old Town Study Area Master Plan Lee's Summit, Missouri
MARKET STUDY OF REDEVELOPMENT OPPORTUNITIES OLD TOWN STUDY AREA MASTER PLAN LEE’S SUMMIT, MISSOURI May 2003 CANYON RESEARCH SOUTHWEST, INC. COMMERCIAL REAL ESTATE RESEARCH AND ANALYSIS MARKET STUDY OF REDEVELOPMENT OPPORTUNITIES OLD TOWN STUDY AREA MASTER PLAN LEE’S SUMMIT, MISSOURI May 2003 Prepared for: EDAW Inc. 1809 Blake Street, Suite 200 Denver, CO 80202 Prepared by: Canyon Research Southwest, Inc. 220 South River Drive Tempe, Arizona 85281 PR# 03-02-06 200 SOUTH RIVER DRIVE / TEMPE, AZ 85281 / (480) 966-0994 CANYON RESEARCH SOUTHWEST, INC. COMMERCIAL REAL ESTATE RESEARCH AND ANALYSIS May 30, 2003 Cales Givens EDAW Inc. 1809 Blake Street, Suite 200 Denver, CO 80202 RE: Market Study – Old Town Master Plan Lee’s Summit, Missouri Dear Cales: Per our agreement, attached are the Market Study findings identifying commercial and residential development opportunities within the Old Town Study Area of Lee’s Summit, Missouri. Potential land uses evaluated included residential, retail, office and hotel. Based on the study findings, the following conclusions and recommendations have been drawn: • Old Town Study Area’s most suitable market positioning and what could be done to enhance its marketability; • Quantify the supportable inventory of new commercial space and residential dwelling units in the Old Town Study Area through 2020; and • Identify potential short- and long-term redevelopment opportunities for the Old Town Study Area, as well as specific redevelopment sites. Upon review of the report, should any questions arise or additional information requested, contact me directly at (480) 966-0994. Respectfully submitted, CANYON RESEARCH SOUTHWEST, INC. Eric S. Lander, Principal ESL:dld Enclosure 200 SOUTH RIVER DRIVE / TEMPE, AZ 85281 / (480) 966-0994 T A B L E O F C O N T E N T S Page # Tab # EXECUTIVE SUMMARY ...................................................................
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