Data is everywhere. How a community uses it is where art meets science. We are adept at discovering secondary data and marrying it with primary research to tell your story and predict your future. Our clients are empowered our data analysis to understand their existing economic conditions, strengths, weaknesses, opportunities and threat, to help them meet their goals. Those goals may include expanding the tax base, diversifying the local employment base, and attracting quality jobs. Quantitative data is only part of the story, and when paired with local intel from key stakeholders, it further illustrates the unique storoy of a market and how all its facets impact one another.
Many developments would not happen without the combined financial efforts of the public and private sectors. Investments generate impacts in the form of dollars spent, tax base and jobs created. Measuring the economic impact from those investments, in other words, the return on investment facilitates further investment decision making. Our economic and fiscal impact analysis defines and demonstrates direct, indirect, and induced impacts to the local economy from private and public sector investments in development.
Gain understanding of your market’s unique competitive advantage, which sectors are strong, maturing, and burgeoning, how to market to specific industries, what those industry trends are, and how to best deploy the community’s limited resources.
Housing is economic development. Rising construction costs that significantly outpace wage increases can challenge talent recruitment and retention if a community’s housing options do not suit employees’ needs. Our thorough, data-driven housing analysis provides a solid understanding of existing housing conditions and challenges, future demand for housing to meet growth in the market, and tools available to support housing development including policies, marketing and funding. Recommendations are placed in priority order with associated responsible party and potential budget implications necessary to improve housing choices for existing and potential new residents.
If conflict amongst a community’s plans, policies, processes, and marketing efforts exists, it could be impacting a community’s ability to achieve its economic goals. Coordinating a cohesive strategy of can feel ambitious. Together, we can;
• Review all plans, policies, procedures and marketing efforts
• Identify priority issues
• Present or create activities or programs that will support your development goals
• Outline economic development financing options
• Create a short-term and long-term implementation plan
Visionary leaders or developers with project ideas to move their community or develoment goals toward growth and vitality need to assess the feasibility and sustainability of their great ideas. This can be done by:
• Comparing demographic characteristics within defined market areas of competitive markets
• Analyzing industry and market trends
• Analyzing labor supply and available skills
• Calculating operation and capital costs
• Conducting stakeholder interviews
Redevelopment Resources has the skills and experience to conduct this type of analysis for you community or company.
For any site analysis, we will consider the regional economy, who lives and works in the area now, who visits the area, and what potential the site could provide as a productive future use for the community. We study the market for the highest and best use for the property, financially analyze our recommended uses, and define a preliminary use of the property for future development. Our service includes a prospect list for future tenants and marketing strategy.
| Project Type | Project Name | Location | Description | Result |
|---|---|---|---|---|
| Market Analysis | City of Appleton Housing Market Analysis | Appleton, WI | Comprehensive housing market analysis as a component of the downtown chapter update to their Comprehensive Plan in 2016. | As part of the update to the Comprehensive Plan, Redevelopment Resources conducted a market analysis for retail/commercial and housing. This study analyzed the downtown on a block by block basis and derived recommendations for business cluster by block. |
| Market Analysis | City of Elkhorn Commercial Market Analysis | Elkhorn, WI | Detailed market analysis of their retail and commercial business community to identify gaps in the market and improve sustainability of the downtown retail environment. | This comprehensive study brought to light the communities strengths and opportunities, which were leveraged to encourage growth in all sectors. |
| Market Analysis | Village of Mukwonago | Mukwonago, WI | A full market analysis was undertaken to determine retail and commercial gaps and prospects. This study included strategies for encouraging infill development and redevelopment of blighted properties. | The community now has a playbook to attract business, visitors and investment in the downtown and surrounding business district. |
| Housing Market Analysis | City of Merrill Housing and Commercial Property Assessment | Merrill, WI | Full housing and commercial property assessment conducted (east side and west side) due to blighting conditions throughout the city and inform recommendations which included robust property rehab programs and new developments on selected sites. | Data was collected from secondary sources and a city-wide survey to solutions needed to rehab existing and build new space to meet demands. Implementation work was ongoing in Merrill for six years. Plan was on time and within budget. |
| Housing Market Analysis | Crow Wing County Housing Market Needs Analysis | Crow Wing County, MN | Municipal code and zoning ordinances were reviewed to help each of 18 different municipalities understand their policy roadblocks to encouraging the development of needed housing. Four specific sectors of housing were studied, including Affordable/Affordability & Cost-burdened; Middle-income & Workforce Housing; Aging population; and Seasonal workers. | The information uncovered through this housing market assessment informed elected officials, staff, and service organizations of the needs in the County, and gave each municipality tools to advanced their goals in tandem with the other municipalities. Every market has unique needs. This was another example of how Redevelopment Resources develops unique solutions for each client depending on their challenges, assets, and opportunities with resources, leadership and stakeholders. |
| TIA/Market Analysis | Langlade County Market Analysis | Langlade County, WI | A county-wide market analysis in conjunction with a review of the skills and occupations of the workforce in the market. | This review led to a focused effort to support industries which paid a living wage. Recommendations were also made to make improvements to the housing stock so future workforce would be able to find a suitable place to live as large numbers of current workers were nearing retirement. |
| TIA/Strategic Plan | Portage County Business Council | [Location Not Provided] | Cluster and Targeted Industry Analysis and Strategies, and Economic Development Action Plan with organizational structure review | Portage County received a complete industry analysis including strengths of employers by category, workforce skills and education inventory and needs, and a full review of their organizational structure with recommendations for how best to move forward. |
| Real Estate Site Analysis | City of DePere Mixed-Use Development Market Analysis | DePere, WI | Analysis of downtown redevelopment project which proposed multi-family and condos with office and retail/commercial space | Detailed analysis of a single multi-property project for its ability to be absorbed in the market. Our analysis proved the market was not able to absorb all proposed units. Fiscal impact of the project was calculated, and it was determined not to be prudent for the City to invest based on the return. Completed on time and within budget. |
| Real Estate Site Analysis | Private sector client | Whitewater, WI | Market analysis and business recruitment strategies for hotel and mixed retail development for family owners of large tract of developable property. | This study provided the family with a direction, prospects, and expectations for sale of the property and its future use. |
| Real Estate Site Analysis | City of Kaukauna Housing Market Assessment | Kaukana, WI | Housing market assessment directly related to two specific sites in the community's downtown. Secondary data analysis informed the client of the projected demand by 2025 across each income category by rental rate. Primary research informed the client on perceptions in the metropolitan area about Kaukauna which contributed to the decision to live in the community or live elsewhere by potential new residents. | Redevelopment Resources compiled secondary data and the results of primary research to provide a proactive yet targeted set of recommendations for the City to address their housing challenges. Sites were developed accordingly. |
Gain understanding of your market’s unique competitive advantage, how to market that advantage to specific industries, what those industry trends are, and how to apply limited resources.
If conflict amongst a community’s plans, policies, processes, and marketing efforts exists, it could be impacting a community’s ability to achieve its economic goals. Coordinating a cohesive strategy of can feel ambitious. Together, we can clarify goals and tactics so there is a clear path to results, with all stakeholders acting in coordination without duplication of efforts.
Periodic review of a longstanding program for any organization is a necessary and appropriate undertaking. The economy changes, local circumstances change, and the most effective use of resources changes.
Establishing benchmarks and evaluating if the current programs meet those benchmarks effectively is not only important to a community’s ability to effectuate growth, but also provides an opportunity for an EDO to show their board and stakeholders their work is creating measurable results.
Rising construction costs that significantly outpace wage increases can challenge talent recruitment and retention if the housing options do not suit employees’ needs, challenging economic development efforts. Our thorough, data-driven housing analysis provides a solid understanding of the current market and future opportunities, providing implementable action steps to attract the right mix of housing at the right time.
Visionary leaders with project ideas to move their company or community toward growth and vitality need to assess the feasibility and sustainability of their great ideas. This can be done by:
How do customers and visitors experience a business district, Main Street or downtown? How do they feel when they arrive, spend their time and money? How do they feel when they leave? Will they make it a point to come back?
Redevelopment Resources can arrive in a community, walk a downtown, visit businesses anonymously and create a first impression report based on our experiences. This work comes with a set of recommended improvements for short and long term, at varying levels of investment and involvement by the client organization.
