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Nj future redevelopment forum 2019 getz

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Nj future redevelopment forum 2019 getz

  1. 1. Preparing for Redevelopment Strategies for stimulating economic growth in communities
  2. 2. What happened to downtown Consumers Technology Retail Preferences Consumers Technology Retail Preferences You are here 2
  3. 3. What happened to consumers Fewer Boomers, more Millennials Lower incomes, higher (college) debt Fleeing NJ, growing diversity 3 60 62 64 66 68 70 72 74 76 78 Boomers Gen X Millennial Population (millions) $0.0 $0.5 $1.0 $1.5 $2.0 $2.5 $3.0 $3.5 $4.0 Boomers Gen X Millennial Income (trillions)
  4. 4. What happened to technology Online shopping 3rd party delivery Wireless Facebook, etc. 4
  5. 5. What happened to retail Amazon, not Macy’s GAP Zipcar, Uber 5
  6. 6. How would you know what I want, you never asked me. 6 What we’re doing…
  7. 7. Community engagement Business owners Property owners Key stakeholders Residents Workforce Commuters Visitors 7
  8. 8. Survey Audience segments Behaviors Preferences Perceptions Demographics 8
  9. 9. Analysis 9
  10. 10. Strategic plan Specific opportunities Targeted projects Prequalified prospects Marketing materials Timeline 10
  11. 11. Prequalified prospects 11
  12. 12. Marketing materials 12
  13. 13. Implement your plan Heart of Brooklyn High income residents 11 million visitors $2.4 billion unmet demand 19% vacancy rate Owner meetings Marketing campaign Property tours 9 stores in 6 months 13
  14. 14. Growth by choice, not by chance. Be proactive Know your market Promote yourself Be persistent Glassboro, NJ $350 million 14

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