New York Avenue Corridor Strategy Adopted Report New York Avenue Corridor Strategy Adopted Report | Page 48

MARKET CONDITIONS
Rental
Demand
Rental Apartments
Annual
Household
Income Range Approximate
Trade Area
Rent Range Rental Demand
Attainable
Capture Rate Attainable New
York Avenue
Capture (units)
$15-25K $375 - $625
$25-35K $625 - $875
1,660 8% 133
1,570 8% $35-50K 126
$875 - $1,000 1,529 8% 122
$50-75K $1,000+ 761 8% 61
$75-100K $1,000+ 266 8% 21
$100-150K $1,000+ 161 8% 13
$150K and up $1,000+ 24 8% 2
5,971 8% 478
Totals
Source: NCTCOG; U.S. Census; Claritas, Inc.; and Ricker│Cunningham.
Figure 3.17 Rental Demand
Retail/Restaurant/Service Demand
Retail Category Estimated 2012 Estimated 2012
Retail Sales
Household Retail
Demand
(Supply)
Furniture & Home Furnishings
Electronics & Appliance
Bldg Materials, Garden Equipment
Food & Beverage (Grocery)
Health & Personal Care
Clothing and Accessories
Sporting Goods,Hobby, Book, Music
General Merchandise
Miscellaneous Stores
Foodservice & Drinking Places
Total $60,867,838
$168,007,764
$71,539,275
$56,433,092
$265,311,284
$408,280,785
$448,968,420
$400,353,147
$195,573,941
$161,880,186
$164,998,515
$310,709,799
$62,125,557
$192,020,799
$451,108,772
$485,467,547
$82,757,124
$83,045,169
$376,149,749
$432,962,316
$2,179,400,475 $2,699,160,604
New Retail
Annual
New Retail
Space Needed
Estimated 2012 Estimated Space Needed Household
Net New
for Household
Retail Void
Retail
Household
to Recapture Growth Rate
(Leakage)
Sales/s.f. Void/Leakage (2012-2022) Retail Demand
Growth
$0
$15,106,183
$0
$48,615,273
$33,693,755
$0
$0
$0
$0
$0
$97,415,211
$200
$225
$300
$375
$325
$225
$225
$300
$200
$325
0
67,139
0
129,641
103,673
0
0
0
0
0
300,452
0.8%
0.8%
0.8%
0.8%
0.8%
0.8%
0.8%
0.8%
0.8%
0.8%
$5,048,519
$5,933,633
$22,005,530
$37,238,477
$16,221,354
$13,685,358
$5,152,837
$37,416,003
$6,864,067
$31,198,729
$180,764,506
25,243
26,372
73,352
99,303
49,912
60,824
22,901
124,720
34,320
95,996
612,942
Total 10-Year
New Trade
Area Retail
Demand (s.f.)
25,243
93,510
73,352
228,943
153,585
60,824
22,901
124,720
34,320
95,996
913,395
Estimated Estimated
New York
New York
Avenue
Avenue
Capture
Retail
Rate
Capture (s.f.)
15%
15%
15%
15%
15%
15%
15%
15%
15%
15%
15%
3,786
14,027
11,003
34,342
23,038
9,124
3,435
18,708
5,148
14,399
137,009
Source: Claritas, Inc.; Urban Land Institute; and Ricker│Cunningham.
Figure 3.18 Retail/Restaurant/Service Demand
ARLINGTON, TEXAS
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