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Last year, the Community & Economic Development Office commissioned a Retail
Feasibility Study of the downtown district, completed by the Market Insite Group
in December 2002. The purpose of the study was to:
- Identify potential retail
voids in the downtown area
- Identify potential retailers to fill the voids
- Forecast sales that could be achieved by retailers that would fill the
identified retail voids
The study concluded that the downtown market is strong,
drawing on a diverse customer base which includes not only local residents but
also tourists, out-of-town residents working in the City, and local college
students, with the following estimated breakdown of sales generated by each
patron segment:
| Patron Segment |
Percent of Sales |
| Trade Area Resident |
55% |
| Tourist Population |
20% |
| Daytime Employment Base (including students) |
5% |
| Sales from Beyond the Defined Trade Area |
20% |
| Total |
100% |
That study identified several current voids, including:
- Additional Vermont
products to appeal to the tourist consumer.
- Additional household furniture and
accessories for both the trade area residents and the tourist shopper.
- Additional apparel/activities for children of local residents
Specifically, the report recommended adding the following mix of tenant
types, pending pro forma analysis:
| Retail Type |
Recommended Square Feet |
| Apparel and Accessories* |
34,900 |
| Restaurants and Specialty Food Stores |
33,800 |
| Other Retail |
72,000 |
| Total |
140,700 |
*Includes shoes and accessory retailers.
Page last updated
April 04, 2008
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