Market Study Release - June 22,2005

On June 22 at noon, a public presentation of a market study of the downtown Muskegon commercial district was delivered by Main Street staff and national Main Street consultants at the GVSU Lake Michigan Center. The consultants were contracted though the Michigan Main Street program of the Michigan Economic Development Corporation.

The report presented was the culmination of a four month process that began in February and gathered input from over 400 community participants. Data was gathered though a public forum, conversations with Main Street business owners, a consumer survey, and the procurement of data from proprietary vendors. With the Main Street program in its third year of existence this product serves as a valuable tool for Main Street staff to better understand the conditions impacting the Main Street Area’s economic performance. In addition the study was able to identify potential business development opportunities, with an emphasis on downtown business retention, expansion and recruitment strategies.

Highlights of the study included the fact that an additional 80-100 housing units, of various styles, will be in demand by 2009. On the business development side market study findings provided general direction for various business types that could be candidates for expansion and recruitment to the Main Street District. High on the list suggested to fill the 7 - 15,000 sq ft of demand that exists are eating and drinking places and specialty retail. The report concluded with an analysis of how the four point Main Street approach should be directed in view of the market study results.

For Muskegon Chronicle coverage of the Release event click here.

For more information on the results of the market study click here.