Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Economic Development topic
No spam. Unsubscribe anytime.
Village hears pitch from Retail Strategies to recruit restaurants and shops to University Park
Summary
Consultant John T. of Retail Strategies outlined a three-step approach—data, site criteria, real-estate outreach—to recruit retail that could serve college students and spur new traffic along University Parkway; trustees pressed on zoning, permitting and traffic concerns.
John T., director of community partnerships for Retail Strategies, presented to the Village of University Park board on a proposal to recruit national and regional retailers to vacant sites in the village. He told trustees the firm uses a three-step approach—customized trade-area data and gap analysis, prospect and site criteria, and licensed real-estate match‑making—to “fill the gap of bringing retail to community.”
John said his team draws on mobile/GPS visit data and peer‑community comparisons to show retailers how many customers pass near a given site, and that the firm does not take real-estate commissions: “We don't take any real estate commission at all. We are literally just the match people,” he said.
Trustees and residents questioned whether low traffic on University Parkway and permitting delays are realistic barriers. One trustee asked how the firm would “break that particular rule” that retailers cite about insufficient traffic; John replied retailers often avoid a market because there is not an existing draw, and adding smaller, lower‑risk tenants (pizza, coffee, convenience formats) can seed traffic that later attracts larger tenants. He gave the example of converting small-format stores to larger grocery or fresh‑food formats as a staged strategy.
John estimated that visible retail outcomes often take about two years on average, citing permitting, interest rates and external retail trends as key variables. He also described deliverables including an 80–100 page market report and on‑going software access so staff can track prospects and negotiations.
The board did not take a final vote on hiring Retail Strategies during the discussion. Trustees asked staff to follow up with specifics on scope, cost, and any required changes to zoning or incentives that would affect site readiness.
