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NEWS
[ Monday, Feb. 21, 2005 ]

Study assesses demand for retail stores

Collegian Staff Writer

Although a market feasibility study to assess the demand for retail in the Urban Village began last week, a definitive course of action for the area will not be determined until May.

Economic Research Associates (ERA) will be conducting the study that was commissioned by State College Borough Council and Ferguson Township in mid-January to determine if the area could support redevelopment.

In the past, Borough Council has debated whether Urban Village, the area west of campus along West College Avenue beyond Atherton Street, should incorporate mixed-use zoning, with both residential space and retail space.

"[ERA] has done a lot of market research in college communities so it seemed like a good one to proceed with," said Art Anderson, State College planning commission chairman. "[The representative] is here trying to get acquainted with the community."

Chris Brewer, ERA representative, said the objective of the study is to assess the demand for retail stores. He said the supply of retail space in Centre County, apartment building vacancies across the borough and tenants who are in the market would all be factors incorporated in the study.

"I'm looking at potential retail spending compared to current spending," Brewer said.

He also said college students make the study more complicated because they spend money differently than permanent residents of the area.

"We would probably overstate demand if [college students] weren't looked at as a sub-market," Brewer said.

State College Planning Director Carl Hess said the study will gather information from local developers, Centre Area Transportation Authority, university officials and rental property owners in the area.

"I think we made a good start [last] week," Hess said. "[Brewer] had opportunities to get a feel for the area. I'm optimistic that we'll be getting information that's useful."

Hess said there are four visits planned for Brewer to return to State College, the dates of which will be determined after he finishes analyzing the initial data from last week.

Brewer said he would use local information as well as national data from sources such as the U.S. Census Bureau to make his assessment.

Trisha Lang, Ferguson Township planning and zoning director, said the study should be completed in about eight weeks and would include a report of development potential in the area.

"I would like to think by the end of year we would be in the implementation phase," Anderson said.

Lang said the study costs $27,000, and State College Borough would pay for about 60 percent of the study, while Ferguson Township would pay for about 40 percent, which reflects the amount of area that each group owns.

State College Borough Manager Tom Fountaine said the municipalities have been collaborating and working well together throughout the duration of the process. "It is a good example how of municipalities can work together to address problems that affect all municipalities," Fountaine said.

Anderson said the council wants to turn the area into a truly village component of the town. "[There is] really a lot of history there and we're trying as much as possible to preserve the history and provide a transition between university and residential areas," he said.

 

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Updated: Monday, February 21, 2005  1:57:11 AM  -4
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Created: Wednesday, May 07, 2008  6:52:22 PM  -4