The Retail Development Crisis: What Now? - Kelley CNU17

The Retail Development Crisis: What Now?

Katharine Kelley

Green Street Properties

Themes of Future Development

o High quality, urban infill locations with high barriers to entry

o Small and medium quantities of product that can be absorbed by the market on a reasonable schedule to minimize market risk

o Sustainable, walkable projects to satisfy market demand for environmental sustainability

Sample project: Glenwood Park$150M total project, 28 Acres. Retail component is 50,000 sf.

Sample project: Post Riverside$122 M total project, 85 acres. Retail component is 25,000 sf.

Sample project: Post Riverside

Sample project: Post Parkside

$23 M total project, 2.3 acres. Retail component is 10,000 sf.

Lesson 1: Retail should be self sustaining

… be externally focused

Lesson 2: Find someone to obsess about every detail of the retail

Lesson 3: Build small retail spaces

Lesson 4: Place retail adjacent to residential in a fine-grained mix

Lesson 4: Place retail adjacent to residential in a fine-grained mix

(where possible)

Lesson 5: Seed the retail and generate momentum

Creating great places…