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Waterdown BIA Commercial Market Analysis

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Waterdown BIA Commercial Market Analysis Downtown Waterdown BIA Commercial Market Assessment Update July 2017 Prepared by: 360 Collective 99 Ivy Ave, Suite 100 Toronto, ON M4L 2H8 www.360collective.co 647 339 9008 with support by: Page by Page Consulting TABLE OF CONTENTS 1.0! Introduction!""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!# ! 2.0! Visitors to Downtown Waterdown BIA!""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!$ ! 2.1! Vehicular and Pedestrian Movements in Downtown Waterdown BIA!""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!$! 2.2! Pedestrian Traffic!"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!%! 3.0! Trade Area Analysis!""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!&'! 3.1 Visitation to Flamborough and Leakage from Flamborough!"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!&'! 3.2! Cell Phone Data!""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!&$! 4.0! Trade Area Socio-Economic Review!"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!()! 4.1! New Residential Developments!"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!')! 4.2! School Enrollment!"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!'*! 5.0! Other Major Target Markets and Customer Visitation!"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!#&! 5.1! Customer Visitation Data!"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!#'! 6.0! Quality of Life Statistics – Crime Statistics and Housing Prices!"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!$&! 6.1! Crime Statistics!""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!$&! 6.2! Housing Prices!"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!$(! 7.0! Commercial Audit and Rent Review!""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!$'! 7.1! Changes in Downtown Waterdown. BIA Businesses from 2009 to 2016!""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!$)! 7.2! Downtown Waterdown Area Retail Rents!"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!+'! 8.0! Investment in Downtown Waterdown BIA!"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!+$! 9.0! Key Person Interviews!"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!)&! 10.0! Summary!""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!)*! 10.1! Comparison to 2009 Findings and Recommendations!""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!)%! 11.0! Downtown Waterdown BIA Vision!"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!*,! 11.1! Downtown Waterdown Identity - Workshop Findings!"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!*&! 12.0! Downtown Waterdown Action Plan!""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!*+! 12.1! Organization!""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!*)! DOWNTOWN WATERDOWN BIA – COMMERCIAL MARKET ASSESSMENT UPDATE 2017 12.2! Economic Development!"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!*%! 12.3! Physical Improvements!"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!%+! 12.4! Marketing SWOT!""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!&,&! 12.5! Marketing – Website and Social Media Review!""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!&,(! 12.6! Marketing Recommendations!"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!&&,! 13.0! Planning Context – Downtown Waterdown BIA.!"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!&&&! 13.1! Introduction!"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!&&&! 13.2! Official Plan!""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!&&&! 13.3! Zoning By-law!""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!&&'! 13.4! On Street Patio Program!""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!&&$! 14.0! Trends!"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!&&+! Appendix: BIA Marketing Planning - CHECKLIST!"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!&(,! DOWNTOWN WATERDOWN BIA – COMMERCIAL MARKET ASSESSMENT UPDATE 2017 2009. The study strategic to undertake). The previous an update update of the was Commercial conducted Market in Assessment (City) Introduction 1.0 360 Collective Downtown was retainedaWaterdown thorough by review theBusiness City of ofImprovement the Hamilton demand andArea supply (BIA characteristics of the BIA and provided Downtown Waterdown BIA for the staff and councillors process included NNJ L< NN> < K L > K > > > L '2 ; ? J . > < N;O J 2 N ' direction for new action items. " ,%""'2.'$ %" ,%""'2.'2 , ? N;N ; ' ; K ; > ; . ;O J ; 2. ; N;L ' 2 N;> ' $ ) % P ' N>K U . * U 2 % J / ;N ' ' N>? ; . / S $ N>O '2 P & P '2. $R"%$ $ * U/# + N>J < + > T >> < $% J N>N K S L ? N>; L L J > O < N>> K ;< K O N > J > N > < ' > O ;N ; . L N N<O N . 2 The process included: '2 ,#%$'2.'2 ,#%$'2.'$ "' K + ""Q < > L > + O ) N<L > NJ P LO 'R Summary of movement into and through the BIA including visitation * 2 ' . 2.'$ ! * ' $ ' % • K ,# N<; N<> > $ # N<< P * ;KK U"#,D+/+'2.' Commercial audit of businesses in the BIA including photo2S,,%.'(/' inventoryS ,# ' D ' ' % / ;KM $ . < ' . ' M * 2 > < ' ;KO ? / > * 2 . ; ' ; ! ' • ' 2 @ '( Q / ;K? ) . NJ * # % .' 2 $ - ( 2 ) ;KN ;KL J< ' # . ) @ $ $ 2 ' Competitive positioning */ * ;K> + ) . ;K; JL . 2 @ ' U)/$'#-' / U#%/ $ ! # • P ;MK ;K< J? D + T ;MM .'$ '2 Key person interviews with businesses, stakeholders, and%$ City ;MN ,# / / * * ' ' < L ) M ! ) O % % O • > $ $ ;OK < # # M " " > P#,%" ,) Trade area review including visitor profile using cell phone.+ data ,) $'2.'$ •! s compiled in P#,%".+$'2.'$ P#,%".+$'2.'2 ;O; J N ' L M J > / ' ; ;O> . J '( Review of development applications, building permits, and investment in the BIA K " * P+@# J /(' > > D R ' - > * ? O K ' # > J / M O K " M >O< + K ! " -) ) • O ) ;?O ) " ' ;?; % %. J' 2 P )( ' 8 S @ + ' J $ ; Summary of incentives and grants ./ ' (/ Q ' # "'*" / 8 information wa * " () @ /(' ! ) ' !"#"$% DEG5AGCHI • /S . P " / & ,#Q2'*/' ;JJ % # P /*P# * + 8 )%&P'2.' D%#'D0ECA4:F *PS(" ;JL ' P#/$)2@+/.P'*/' $ ;J; ' '" / $ ) '* " - ;J< / # . # P 2 ' * R P' / * @416:A0BC'D%# & ( ;LJ + % ' /( )T#Q'*.' P+@#/('D-' ) S This above listed ) +/.P'*/' / D" P#/$)2@ " ( % )/' ;L? % 2 (4167 , R PS( *S"+..#'(/' ;LL * +31096:';<=';<>? ' #/ !/) ! with BIA members at an open ' ;L> this background report that was then ;NM 2) ed &@S$'/(' !) //) -+".)//#'*.' ""%'2.' D)//Q'P%""'#-' $01'.0'23456 J< After the workshop a vision J> LM ' ;N; !"#$$%$&'#$(')*+$+,%*'()-)"+!,)$.'()!#/.,)$.
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