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