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# .1€ '7.4 -%',',-"0", <br /> ;,..,1 ir <br /> m a <br /> 4fitki , 41 <br /> ■ Identify the strip's trade area. ).. N ... <br /> ■ Determine the specific market forces at work where the -, <br /> strip is located. z <br /> ‘ o <br /> • Determine a realistic assessment of where the strip fits <br /> in the overall retail continuum, i.e., its level of maturity in z <br /> the marketplace relative to other retail destinations, and \ = i. <br /> the amount and nature of the competition. v o <br /> 0 <br /> • Determine the shopping patterns of the market and set , o <br /> ti reasonable expectations about how they are likely to evolve. ` <br /> 8 <br /> ■ Recognize that different types of arterials serve different <br /> types of markets, and be prepared to <br /> serve those markets that your arterial <br /> serves best. <br /> • Build on the position that the Different Markets: <br /> strip holds in the regional hierarchy of Different Demand <br /> retail locations, and be reasonable <br /> about what is economically feasible, <br /> which will change over time. <br /> • Recognize that a corridor will '` <br /> likely be composed of many distinct — V <br /> 1 <br /> neighborhoods with different popula- <br /> Population .< Node <br /> tions, incomes, growth rates, and lev- Higher Income <br /> els of access. These differences should Faster Growth ' „,,,, <br /> lead to wide variations in activity and More Through-Traffic <br /> character along different parts of Multiple Land Uses <br /> the strip. Regional Draw <br /> • Understand the complex interplay <br /> between land values, densities, market "'' <br /> demographics, access, demand for dif- <br /> ferent types of retail offerings, and z <br /> the level of competition in the strip's Less Population Node 2 <br /> market area; in other words, know Lower Income . <br /> ale market! Slower Growthco <br /> 7 <br /> Less Through-Traffic o <br /> 0 <br /> c <br /> Limited Land Use Variety <br /> a <br /> Local Draw <br /> 7 <br />