1. “Successful Strategies to Attract and Retain Downtown Retailers” Monday, May 18 th 2015 Panel Co-Chairs Ivan Baker, CEcD, AICP John Crossman, CCIM, CRX Special thanks to: Cynthia Stewart ICSC Staff Vice President Community Development

2. Kim Ellis Kim Ellis ICSC Trustee Consultant Minneapolis, MN Robert Stark Robert Stark President & CEO Stark Enterprises Cleveland, OH Bill Fulton Bill Fulton Director Kinder Institute for Urban Research Houston, TX Nancy Whitworth Nancy Whitworth Director of Economic Development City of Greenville Greenville, SC Carl L. Goertemoeller Carl L. Goertemoeller ICSC Trustee Senior Vice President of Real Estate Macy’s, Inc. Cincinnati, OH

3.  Hard-nosed market analysis and actually talking to retailers  Marketing through RECON and other trade organizations  Understand the relationship between retail and the trend toward urban housing …Nationally Cities are Doing These Things Right

4. …Biggest Mistakes Cities are making  Unrealistic view of the market  Cities want to become the next Silicon Valley  Cities think they can attract Nordstrom/Apple Store  Cities often think that if they provide a deep enough subsidy, they’ll get the high-end retail they want

8. Best Places to Live: Top 18 Coolest Towns in America - Men’s Journal America’s Top 10 Greatest Main Streets - Travel & Leisure Top 10 Best Downtown - Livability.com 2015 Hottest New Vacation Destination - CBS News

9.  Capitalize on Assets and Uniqueness of Community  Balance the Uses  Details are Important  Focus on Quality, not Quantity  Focus on Investments That Yield Multiple Returns  Entrepreneurial Leadership is Key  Be Committed – It Takes Patience  Leverage ICSC … Lessons Learned

16.  Establish Needs the Retailer Would Fulfill  Shovel Ready Site  Establish Consensus  Identify Detractors  Incentive Packages in Place  Minimize Regulatory and Procedural Issues … Attracting Big Box Retailers Historic Third Ward, Milwaukee

17.  Understand the Retailer’s Specific Site and Market Needs  Provide Context through Market Research  Roll out the Red Carpet  Thorough Review/Tour of the Market … Presenting the Site Herald Square, Midtown Manhattan

18. Thoughtful retail planning  Big Box play/synergy  Complimentary tenant mix Be Proactive and understand desired tenant’s business models  Demographics  For Restaurants, know how many day parts (meals) each concept can expect Consider required parking requirements for desired uses  Accessible and/or short term parking  Rent structure and Tenant Improvement Allowance that provides confidence that ROI can be met … Attracting Small Shop Retailers

19.  Footprint sizes are atypical; “cookie cutter” layouts won’t typically work (ceiling heights, HVAC requirements)  Two way roads are more ideal than one way (unless use is destination oriented)  Pedestrian traffic is a plus; how to get them in your door  Proximity to big box users  Rents/Build out cost – higher  More Density does not mean the demographics fit  Labor challenges - How will employees get to work; where will they park and at what cost  Hours of Operation … Advice to Retailers in Urban Developments “The only standard element of urban retail growth is that nothing is standard.” – Joseph Magnacca

20. Thanks for coming! Please consider attending this other public sector session entitled: “Optimizing Tenant Mix for Downtown Business Districts” Westgate Hotel - Pavilion 1 Tuesday, May 19 th 2015 3:30pm - 5:00pm