Nevada’s economy has been dominated by a handful of industry clusters that include hospitality and tourism, construction, and mining. These clusters are highly sensitive to boom and bust cycles that make the Nevada economy vulnerable to severe downturns–even when the national economy experiences only minor slowdowns. In recognition of the need to diversify, the Clark […]
Continental/Ferguson Lansing, LLC commissioned Anderson Economic Group to update our 2018 economic impact analysis of a proposed development located at the former Red Cedar Golf Course in Lansing, Michigan. We completed our study in the fall of 2018 using information pertaining to the development plan at that time. The Lansing City Council used our report […]
Northern Michigan University retained Anderson Economic Group to conduct a market study and strategy for the development of university owned property in Marquette, Michigan. The commission of this report opened the opportunity for the proactive planning of future development efforts, the return of underutilized property to productive uses, and the physical and social connection of the campus and community.
Our approach began with a field assessment in Marquette, followed by community outreach through online surveying, meetings with community stakeholders, and focus groups for the business community, area residents, university faculty and staff, and students. Findings from the community engagement helped to qualify results from our retail and residential supply and demand analyses, which identified opportunity for growth in various retail categories and housing value brackets to complement the existing stock. Our recommendations included illustrative development plans for the property, and specific development guidelines and tenant recommendations to enliven the area, connect the campus to the community, and bring in each element of living, working, and playing.
We provided the university with a full report which included an executive summary and appendices that contained explanations of the methodology used, detailed findings from the analyses, custom maps, and results from the community engagement process. We also provide pro forma financial models for the development to illustrate the financial considerations related to the project.
The City of Adrian, located in southern Michigan, is home to a historic downtown, three centers of education, and the Lenawaee County seat. The City and its Downtown Development Authority identified two areas that were being underutilized, and retained Anderson Economic Group to develop a market strategy for both its Witt Property and the downtown riverfront.
We started the project by visiting the market, interviewing key stakeholders, and inventorying local retail supply to supplement our retail database. We combined this with our quantitative analyses, including demographic projections, a drive-time analysis and trade area delineation, a retail supply-demand analysis, a consumer expenditure analysis, and a residential unit absorption assessment. We then drafted a market strategy, with specific recommendations, for each of the two properties. Our strategy included residential, retail, and entertainment opportunities, specific project types and staging, and tenant recommendations for retail space.
We documented our analysis, findings, methods, and recommendations in a final report, which was delivered to the DDA and community leaders. The report included a detailed data appendix, visual examples and development options, and a concise executive summary to highlight our findings, and is available on the City of Adrian Economic Development web site, and from the link below.