header-left
Share to Facebook Share to Twitter Bookmark and Share
File #: 1739-2019    Version: 1
Type: Ordinance Status: Passed
File created: 6/18/2019 In control: Economic Development Committee
On agenda: 7/22/2019 Final action: 7/25/2019
Title: To authorize the Director of Development to enter into contract with Arch City for Professional Consultancy Services in an amount up to $50,000.00 to provide a commercial market analysis of the SR-161 corridor in Columbus, Ohio; to authorize the expenditure of up to $50,000.00 from the Department of Development, Division of Economic Development general fund; and to declare an emergency. ($50,000.00)
Attachments: 1. ORD1739-2019 2019-06-13-ED SR-161 Corridor Market Study
Explanation
1. Background
This legislation authorizes the Director of Development to enter into contract with Arch City Development for Professional Consultancy Services in an amount up to $50,000 to provide a commercial market analysis of the SR-161 Corridor in Columbus, Ohio.

The project was formally advertised on the Vendor Services web site from March 5, 2019 to March 27, 2019. The city received two (2) responses.

The responsive firms were:

CONSULTANT LOCATION FROM COUNTY AUDITOR'S OFFICE WEB SITE
Arch City Development Columbus
Scioto Analysis Columbus

The SR 161 corridor has suffered from an unsustainable amount of commercial square footage given recent commercial trends. Vacant retail structures and land are found throughout the area. Empty storefronts and retail centers suggest disinvestment and uncertainty about the area's future, although there has been recent movement by current property owners that is encouraging.

Viewing the SR 161 corridor as something more than a retail district is critical to its economic sustainability. Columbus is ranked as having one of the highest retail square footage per capita ratios in the country, signifying an overabundance of retail space. There is excess retail capacity in most commercial corridors in the region. Rethinking SR 161 in this regard is important. What is its role in the region? To what extent should new land uses be introduced into the corridor to strengthen the real estate market? What are the other uses that would be economically viable?

The selected firm will be responsible for reviewing and evaluating current business and business expansion opportunities along the corridor, evaluating the land use patterns relative to the study’s findings, and provide detailed recommendations that address market constraints, real estate development opportunities and potential programming to assist businesses in the corridor.

Emergency action is requested to complete the study within the next six months ...

Click here for full text