Feasibility Study on the Establishment of a Retail Mini-Mall in the Northside Neighborhood
Thomas, Alyssa R.
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The market analysis was prepared by the author and George Erickcek at the W.E. Upjohn Institute for Employment Research. The purpose of this project is to assess the market feasibility of establishing a mini-mall in the Northside neighborhood within the city of Kalamazoo, Michigan. This proposed mini-mall will house graduates of the Northside Economic Potential Group's (NEPG) entrepreneur training program. The data in this report is based on primary data and supplemental data obtained through a variety of publications and other documents. Data were also collected with respect to the potential for retail trade and service industries in the city and county of Kalamazoo since the market areas depend on the type of business. NEPG set forth the following guidelines regarding the potential development of the mini-mall. They should: 1.) respect the interests of the entrepreneurs graduating from the training program; 2.) reach out to the Northside as well as the greater Kalamazoo area; 3.) not displace any housing units or activities already established in the neighborhood; 4.) help curtail retail leakages outside the community; 5.) provide a successful business location; and 6.) attract a diverse income population. Unfortunately, the major findings of this report suggest that given the Northside neighborhood consumer spending potential, it will be difficult to support the mini-mall concept at this time. Declining neighborhood trends in population, housing, income, and businesses, as well as, the current retail trends support this conclusion.