I am a frequent critic of market analyses.  Somehow, the economic development, ---and in particular the commercial district revitalization worlds--  have become convinced that they need to know everything about their market--current, past, future.   This used to be the domain of the real estate developer who needed to discern what she/he could build, make money on and get financed.  Now every community wants one---- GREAT!  However, most firms do not do them right and in fact present an overpriced, boilerplate product that throws little light into the economic development cave. They give you an updated version they did in town X the day before-- but it is not personalized!!  I will say immodestly that I do them right--period.  Moreover, I have been told as much by countless clients from around the world.  I do something shocking.....I take into account the cultural and human elements of a community.....I don't reduce everything to "metrics." As they say, what a concept..............................................................................

I just got back from the charming community of Brunswick, Georgia a waterfront City about 70 miles from the Florida border(well from Jacksonville).  My firm, Economic Development Visions has been hired to conduct a market analysis for the downtown.  It is a community with lovely architecture, two distinct islands serving different needs(one for island residents, the other more for tourists), and a committed and visionary local leadership.  Moreover, a progressive, professional and creative developer is about to build a mixed-use waterfront project that will include condominiums, a hotel, housing, a marina and some retailing.  This developer, does not want to detract from the downtown retail core, so is partnering with the Downtown Development Authority to determine what the market for retailing is downtown and on his site.   This is a remarkable and very community-based decision on the part of the developer.  Frankly, more developers could take a lesson from this firm and make themselves part of the community on the front-end so that there is a melding of economic and social needs on the back-end.  Kudos to the developers of Liberty Harbor in Brunswick, GA.  Hats off as well to the Downtown Development Authority and its Board for wanting a market study that was all-inclusive, but also takes into account the human, social, financial and political realities of the moment.   Also, the Mayor, a progressive, thoughtful man understands the dynamic perfectly.  This is a community that  in fact "gets it."

The "numbers", or as so many feel impelled to call them now--"the metrics", we can handle easily.  We needed to layer this study--as we at Economic Development Visions do with all of our studies--with an understanding of the community, including: history, culture, local politics, and yes PEOPLE.  The human elements.  We spent the week conducting a great deal of research, but none was more rewarding than the conversations with local residents.  This takes time and often means as much as the "metrics", as we listen to their sage business advice relative to the downtown or just their recitation of local history and how the community has evolved.  Frankly, large firms who send junior people into a community cannot afford the personal touch.  They have high overhead, and  need to move from project to project.

We thrive on the personal touch.  We revel in what makes one community different from the next and we do it  very well--period.  When we finish a market analysis for a community, a downtown or a development project we don't hand over a myopic, metric -laden document--we present a product that realistically pays homage to the community and the future.  Yes, it defines the market and is a superb decision-making tool, but the one we will present to Brunswick GA, will be unique to Brunswick, Georgia---a place, like every other place, that is UNIQUE!

Here is a link from the local paper the Brunswick Times to an article about our project.
http://www.thebrunswicknews.com/open_access/news/326806617962308.php



Best and Happy Holidays

Chuck D'Aprix
Economic Development Visions &
The Downtown Entrepreneurship Project
Washington, DC
202-248-9715
http://www.economicvisions.com
http://www.downtownproject.com
http://www.DAPRIXBLOG.com