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Res-2019-014 EDBA
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2019-01-15 10:00 AM - Commissioners' Agenda
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Res-2019-014 EDBA
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Last modified
1/18/2019 9:36:53 AM
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1/18/2019 9:35:17 AM
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Meeting
Date
1/15/2019
Meeting title
Commissioners' Agenda
Location
Commissioners' Auditorium
Address
205 West 5th Room 109 - Ellensburg
Meeting type
Regular
Meeting document type
Fully Executed Version
Supplemental fields
Alpha Order
p
Item
Request to Approve a Resolution for the 2019 Distressed County Sales and Use Tax Infrastructure Improvement Program Agreement with Ellensburg Business Development Authority
Order
16
Placement
Consent Agenda
Row ID
50670
Type
Resolution
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2.3.3 Overall Retail Market Opportunities <br />The retail market potential for Ellensburg combines many different facets of the data gathered <br />above. Retail markets depend on both quantitative and qualitative information. Moreover, just <br />because there is retail market potential for a potential retail store type in no way ensures success <br />of that store type in the community. <br />There are many reasons why H. business might succeed or fail, and the retail market is but one of <br />those factors. The days of the downtown competing with subw-ban locations for primary retail <br />have long since vanished. The major "pro" of keeping all retail in the community is that once a <br />shopper has left. they have left for the day and their money will follow. This section explores <br />retail development likely to develop in suburban locations in Ellensburg. <br />• Family clothing -This category includes stores such as TJ Maxx, Ross, and similar type <br />stores that cater to llll fwnily members. They typicaJly locate in suburban market <br />developments. With over $5 million in leakage from the primary trade area, this could be a <br />suburban opportunity for Ellensburg. A store of similar type (though unlikely a chain) could <br />also work in a downtown setting. <br />• Auto Dealers-Ellensbw-g is home to a number of highly successful auto dealerships, though <br />not all auto brands are currently represented in the market. There is an opportunity for new <br />car dealerships that would likely develop in a suburban location. There is also a growing <br />trend of downtown auto dealerships decamping to suburban locations for better exposure. <br />• Electronics-While Ellensburg is leaking sales in the electronics category, this store type has <br />proven to be problematic as of late with the demise of Circuit City and the bankruptcy of <br />Radio Shack. A regional electronics store may be successful based on the market leakage. <br />• Pharmacies -Surprisingly, Ellensburg leaks sales in Pharmacies. This could be a trade of <br />the retail dollar for in-store pharmacies at stores Jike Fred Meyer or, more likely, a signal for <br />additional demand. The location is likely to be suburban and will have little to no impact on <br />the downtown pharmacy in Ellensburg. <br />• Home Improvement Stores -This is an intriguing category for Ellensburg in so far as <br />independent garden dealers, hardware stores, and similar store types have proven to be great <br />for the community. A home center such as Home Depot might be plausible based on these <br />numbers but would likely have a negative impact on existing independent merchants. <br />• General Retail -This category includes stores like Fred Meyer, Target, and Walmart. <br />Ellensburg cw-rently has a high quality Fred Meyer in very close proximity to the core of <br />downtown, although separated by storage and warehousing uses that would not encourage <br />walking between the two. Retail leakage indicates potential for some degree of additional <br />general retail. The impact of such a store on downtown would be minimal and would likely <br />benefit downtown Ellensburg and the community as a whole as it would retain customers that <br />are currently leaving the community to shop in Yakima, metro Seattle, or Wenatchee. <br />17
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