Miami Crossing District

Transcription

1 Miami Crossing District Building a Brand for a Traditional Suburban Community Center OTA Winter Conference February 1, 2018 Session Overview What is Miami Crossing? Previous Efforts / Why Miami Crossing? Creating a Plan / Role of the JEDD Developing a Brand Future Efforts 2 1

2 Miami Township Southern Montgomery County Population: 50,735 7 th Largest Township Top Employers LexisNexis PNC Bank MetLife Teradata Verso Corporation 3 Miami Crossing Area between I-75 and I-675 Collection of over 400 businesses Heavy retail & restaurant presence Approximately 2 square miles Partnership: Miami Crossing JEDD Miami Township City of Miamisburg 4 2

3 Miami Crossing 3.7 million square feet of retail Over 200,000 square feet of restaurant space $200 million in sales at Dayton Mall alone 5 Previous Efforts 3

4 Previous Planning Efforts 7 Previous Planning Efforts 8 4

5 Why Miami Crossing? Why Miami Crossing? Why now? What does the future hold for traditional suburbs? What lifestyle is desired today? What will create greater value? What is lacking in our current identity? 10 5

6 Business Community Impact on General Fund General Fund Revenue Property Tax = $154K Hotel Motel Tax = $425K JEDDs = $720K Interest 9% Franchise Fees 15% 2017 Revenue Estimate Other 9% Property Tax 7% Local Govt 9% Hotel Tax 19% JEDDs 32% Property Tax Local Govt Hotel Tax JEDDs Interest Franchise Fees Other 11 Priorities for choosing where to live 1990 Golf courses Large backyards Homogeneity Escape from work Convenient auto access 6

7 ...more people with choices are seeking urban lifestyles 1990 Golf courses Large backyards Homogeneity Escape from work Convenient auto access 2017 Main streets Walkability Transit Diversity Short commute Convenient auto access Prospects for Traditional Malls Approximately 1,200 malls in the U.S. 20% of malls produce 72% of mall revenue ¼ of malls are at high risk of losing an anchor store 1/3 of malls projected to close in coming years 60% of Macys 68 store closures were within 10 miles of another Macys and 2/3 were within A and B class malls Industry consolidating around top performers Sources: ISCS, Fung Global Retail & Tech, CoStar Jan Kniffen-retail consultant, CNBC/CoStar 14 7

8 Challenges & Opportunities Retail Sales 28% between Food Service Sales 57% between Department Store Sales from 12% of core retail sales to approximately 3% of retail sales: Source U.S Census Bureau, Heartland Real Estate Business Brick and Mortar Stores still Dominate Market E-Commerce represents approximately 8.5% of total retail sales; but from 3.5% just 10 years ago, US Dept. of Commerce Who s Creating Demand? 15 Who s following the Boomers & Millennials? Millennials Millennials??? Source: U.S. Census Bureau, Pop. In Millions by Age 16 8

9 Post Millennials Who Are We Building For? Generation Z Upper range turning 18 More conservative More likely to shop in brick & mortar stores Grounded by war and recession Pragmatic but also optimistic Desire not to be defined by Millennial label Hyper connected Aware of Risk and Reward of Social Media and Automation Want to feel connected to the story behind the brand, not the label Sources: HRC Realtor Advisor, Fast Company 17 What does this mean for Retail? Increased Use of In-Store Technology Budget Conscious Stores will Benefit Higher End Stores will Need to Have a Strong Connection and Story to Tell Return to Bricks and Mortar but Continued Merger with Online Brands Increased Need for Experience Based Venues Need to Remain Adaptable as Experiences Change Environments Need to be Real Real Opportunities for Interaction 18 9

10 Recent Trends Retail Sales Up Continued Downsizing Experience Based Redevelopment Continued Crossover Between Online Convenience and In-Store Experience Amazon and Kohls Partnership, Target & Barnes & Noble Returns to a store cost a retailer $3 versus $6 to process when sent to a distribution center: Wall Street Journal and AlixPartners Potential for Greater Variety of Small Shops and Pop Up Shop Experiences 19 We didn t get here overnight

11 We didn t get here overnight Creating a Plan 11

12 A Plan! Phase I Kickoff February 2013 Oversight and stakeholder meetings Summer 2013 Board of Trustee s Acceptance of Scope October 2013 Phase II Kickoff, Contract with Stantec Consulting Services Nov Oversight and stakeholder meetings Winter / Spring 2014/2015 Middle School Meeting December 2014 Surveys (Text and Phone) Spring 2015 Draft Plan Open House September 2015 Adoption of the plan December 2015 Wow it looks like a little town. It feels like I m in a city. I can eat, shop, and workout. #Dang #wow 2014 Middle School Workshop 23 Miami Crossing JEDD Joint Economic Development District Partner: City of Miamisburg Funded Phase II Utilize City Powers 2017 Revenue - $819K 25% Increase from 2015 Year Master Plan Approved 24 12

13 Primary Stakeholders Businesses Residents Diversity of ages and backgrounds Hotels Realtors Visitors Hotel guests, etc. Dayton Mall and anchor tenants Library Greater Dayton Regional Transit Authority ODOT Major Shopping Center Owners Greater Dayton Mall Business Association Utilities Kettering Hospital Major Office Tenants PNC Bank, Lexis Nexis, MetLife, Verso (formerly NewPage) City of Miamisburg City of West Carrolton Washington Township 25 Oversight Committee 26 13

14 Public Engagement 27 Public Engagement 28 14

15 Three Public areas Engagement will be the focus for catalytic development 29 Redevelopment Scenarios Redevelopment scenarios focus on placemaking

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18 Public Engagement Future land uses will be mixed use Public Engagement Development will be phased

19 Public Engagement Focus on placemaking and walkability Setting Goals Ten benchmarks in four groups

20 39 Developing a Brand 20

21 How Does Miami Crossing Fit in Marketing the Region? 41 DESIGN BRIEF Aligns with overall plan principles 21

22 Branding Process December 2014: site visit and stakeholder interviews January: Development of branding types and concepts; draft design brief February: Public involvement & input March: Creation of potential names and logos based on stakeholder input, research, and community input March: Oversight Committee review and input April: Determination and concept refinement of preferred logo and name May: Oversight Committee review and determination of appropriateness June 2015: Presentation to public of final logo, title, and branding/wayfinding tool kit 43 Branding Process 44 22

23 Redevelopment Scenarios Many variations considered Redevelopment Scenarios Many variations considered

24 Redevelopment Scenarios Community Refinement Final Logo / Brand Merging of arrowhead and summit design with Miami Crossing Arrowhead representative of Miami Township & forms a peak and summit Miami River representative of Miamisburg and West Carrollton Crossing also relates to Int. 75 and Int. 675 Two color tones reflect multiple jurisdictions within the area and interchange quadrants 47 Branding 48 24

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26 Branding & Marketing Efforts Miami Crossing JEDD 51 Looking Beyond Traditional Boundaries What Can You Do To Capture Market Share? West Chester Liberty Chamber Alliance: I-75 Growth Corridor Video 52 26

27 Regional and Statewide Marketing 53 JEDD Update Miami Crossing 54 27

28 Future Efforts Exit 44 Pedestrian & Aesthetic Study ODOT Sidewalk Project Southwind Drive Gateway Study Prestige Lighting & Landscape Study ODOT Intersection Project Lyons Road Pedestrian Project 28

29 Exit 44 / SR 725 Pedestrian Study Exit 44 / SR 725 Enhancement Study 29

30 A lot has changed 59 A lot has changed Google Maps 60 30

31 Transforming Exit

32 Lyons Road / SR 741 Pedestrian Project 32

33 Lyons Road Redevelopment 65 Sears Auto Center 66 33

34 Challenges Ahead Redevelopment of Dayton Mall Increasing Participation Funding Major Infrastructure Projects Funding Maintenance Adapting to Technology Changes Automated Vehicles, Autonomous Shuttles, Retail Automation 67 Opportunities with traditional anchor sites Dayton Mall Sears acres in the middle of Miami Crossing Located on a private roadway Next to property owned by Washington Prime (mall owner) North of Township owned property Adjacent to the Village on 725 Prime location to spur additional redevelopment activity 34

35 Opportunities with traditional anchor sites Esplanade at Aventura, Aventura Mall, north of Miami, Florida Sears pays Seritage about $4.45 per square foot in rent, whereas Seritage's non-sears tenants are paying about $15.23 per square foot, according to Seritage. Hayley Peterson, Business Insider, May 17, 2017 Thank you! Contact Info: Christopher Snyder, AICP Director of Community Development Miami Crossing District Miami Crossing Joint Economic Development District (937)