Willowick Lakefront Connectivity & Redevelopment

Location

Willowick, Ohio

Project Type

Economic Development

Overview

The Willowick Market Analysis assisted the City of Willowick in understanding market conditions for a desired town center located along the shores of Lake Erie. During the process, Environmental Design Group not only analyzed current market conditions but reached out to local developers to better understand the perceived advantages as well as barriers to development.This holistic approach helped to guide and fine tune a conceptual plan rooted in real world understanding.

Scope of Services

Environmental Design Group was hired by the City of Willowick to develop a Market Analysis investigating the potential for a town center. In order to make an informed decision, a detailed Real Estate Market Study was conducted to understand the local supply, demand, occupancy, pricing and general real estate trends within the City.

A Retail Demand Analysis was conducted to understand consumer spending patterns and growth in the study area for both the proposed site as well as the City itself. The data reflects sales trends and real estate market data for major retail locations as well as an assessment of competitive supply within the City’s trade area. Furthermore, a Retail Leakage Analysis was conducted to assess the potential for additional retail within the development.

Impact

The market analysis created by Environmental Design Group aided in the creation of a conceptual town center plan rooted in real world understanding, consequently increasing the chance of successful completion.

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