TASK A. EVALUATION AND RESEARCH Deliverables: • Perform commercial neighborhood market potential analysis addressing dining, entertainment, personal and professional services, institutional uses, offices, and tourism market demand/future capacity • Analyze development trends and applicable local demographic and employment characteristics impacting the study area • Quantify the demand in the neighborhood using industry-accepted data methodologies and identify business sector gaps that could be met by new or expanded placement in the area • Evaluate the project area’s economic relationship to surrounding neighborhoods, particularly the presence, impact, and market potential generated by NC Central University • Interview appropriate stakeholders to gain additional insight into market conditions • Survey adopted historic preservation and economic development plans for the project area, documenting economic development strategies and gaps in knowledge to inform additional municipal, property owner, or business engagement needs or strategies • Synthesize successful neighborhood commercial redevelopment case studies, best practices, strategies, and trends
