Business & Tech
Downtown Market Study to Suggest a New Direction for Downtown
Results of a study looking at the business climate in downtown Manchester will be revealed on Thursday.
The Downtown Manchester Special Services District (DMSSD) will host a public presentation of the results of the recently completed Downtown Market Study on Thursday, January 26 at 6 p.m. at the Elks Lodge located at 30 Bissell St.
The study was commissioned by the DMSSD and funded by a gift from First Niagara. It was conducted over a five-month period, completed in December of 2011 and is the first study of its kind in approximately 20 years.
“We recognized that tremendous change has occurred in the marketplace over the past two decades and felt it was critical to take a fresh look at Downtown’s market position,” noted DMSSD Xhairperson Ed Firestone.
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The Downtown Market Study was multi faceted and utilized the expertise of notable Connecticut firms AMS Consulting, LLC, The Center for Research and Zared Architecture. Principals from these firms will present an overview of study findings and recommendations at the January 26 meeting.
The goal of the study was to evaluate the market potential of downtown Manchester and develop recommendations and strategies for promoting desired growth within the district. The study examined demographic and economic forces affecting the downtown and their effect on future growth and development; evaluated market conditions, opportunities and climate for office, retail/commercial and residential growth; conducted a competitive analysis of the area; identified opportunities and strategies for growth and development; and provided market and land use recommendations.
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Information contained in the Downtown Market Study is expected to be of use to existing and potential downtown businesses as well as to downtown property owners. The DMSSD will look to study results to guide its development efforts. Downtown District Manager Tana Parseliti is optimistic about the study’s findings. “Downtown can’t continue to look backwards at what it was. It needs to look forward to what it can become. The recommendations and strategies contained in the Market Study will help us to guide the Downtown in a new direction.”
Copies of the Downtown Market Study will be available on the DMSSD website www.downtownmanchester.org following the presentation on January 26th.
Those who wish to attend the Market Study Presentation should contact the office of the Downtown Manchester Special Services District at 860-645-2101 to register. In the event of inclement weather attendees are advised to call the District office to confirm the status of the event.
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