NEW YORK AVENUE CORRIDOR STRATEGY
Retail
North Texas, particularly Dallas and Fort Worth. As a central suburb to North Texas, Arlington in general, and the Study Area in particular, have unique opportunities to be logical targets for urban housing.
• While there is a healthy degree of retail“ leakage” occurring in the New York Avenue Trade Area( enough to support a sizable amount of new space), the recent closings of major national retailers( and potentially more to come in 2013), as well as the significant amount of underutilized or obsolete space, could characterize the Trade Area as a fragile retail market. This is a market perception that could be a challenge in attracting new retailers and new formats to the corridor.
Office / Industrial
• Arlington’ s position as an established employment center and its central location in North Texas make it a potential“ midtown” location for office space. The corridor has a twofold opportunity to capitalize on these existing office markets, while at the same time, offering“ niche” opportunities for secondary office locations providing less expensive space in a“ closer-in” urban environment.
• The corridor could also provide a home for local service office users, and even“ incubator” space for new and expanding businesses in the local economy. These opportunities will be best served by flexible space which could accommodate office and service uses.
• The New York Avenue Trade Area is likely underserved by newer retail formats and product mixes. This concept of being“ under-stored” is not uncommon in older suburban communities. The Trade Area currently represents a relatively homogenous retail market. In association with the increased diversity of housing products and targeted demographic groups, it could accommodate a wider variety of retail product types and formats.
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FINAL REPORT | SEPTEMBER 2013