Client: City of Woodland Park (CO)
As part of the preparation of a comprehensive plan update, Gruen Gruen + Associates (GG+A) was engaged to undertake a market analysis to estimate the size and make-up of retail uses supported in the community of Woodland Park and to identify strategies for expanding and improving the retail base. Located northwest of Colorado Springs in rural Teller County, GG+A provided strategic recommendations for maintaining and enhancing Woodland Park’s position as the commercial activity center of the County while reducing sales leakage to alternative shopping destinations in Colorado Springs.
GG+A completed a comprehensive audit of retail supply conditions through an analysis of sales trends, a review of retail development activity, rents, and occupancy rates, and interviews with local merchants. To estimate the potential demand for retail goods and services within Woodland Park, and the on-the-ground space supported by this demand, GG+A identified the primary trade area served by the retail base and identified the sources demand emanating from local household, workers, and seasonal visitors. GG+A analyzed demographic, income and employment data to estimate the amount of retail demand able to be captured within the community and identified the relationship between current and likely future demand and supply of space in the relevant trade area.
A synthesis of the supply and demand analysis provided a framework from which to identify a retail development/tenanting strategy and policy actions for the community. GG+A prepared a report that summarized the research and analysis conducted, and the findings, conclusions, and strategic recommendations. A GG+A principal participated in community workshops to review and describe the implications drawn from the research and analysis.