Williamsburg Downtown
Vibrancy, Design &
Marketing Plan
Presentation to The Economic Development Authority & City CouncilDecember 14, 2015
PRESENTATION OVERVIEW
• Introduction: Team, Market, Mission
• The Retail Trade Area
• Overview of the Market
• Market Fundaments
• Retail Placemaking
• What we have Heard
• Immediate Next Steps
• Questions
ABOUT OUR TEAM
• Downtown Development
• Retail Marketing & Branding
• Urban Planning & Design
• Seasoned Professionals Who Have Worked
with Communities, Retailers & Policy-Makers
Econsult Solutions
Group Melvin DesignCo-Project Principal
Catherine Timko
Project Director
Ethan Conner-Ross
Project Director
Adam Tecza
Co-Project Principal
Robert Melvin
Project Advisor
Peter Angelides, PhD
Project Associate
Sara Woolf
Planning AssistantResearch Analyst
WHAT’S AT STAKE
• The Importance of Place and of a Strong
Downtown
• Keeping Downtown Attractive for Visitors
AND residents
• Drawing in Investment
• Engaging the Community
PROCESS
Phase 1: Project Kick-Off
Phase 2: Downtown
Analysis
Phase 3: Outreach &
Selling Priorities
Phase 4: Plan
Development
Phase 5: Revision & Deliverables
• Kick-Off
Meeting
• Online
Presence
• Review of
Regulations• Physical
Conditions
Analysis• Retail Tenant
Mix Analysis• Analysis
Synthesis• EDA
Presentation
• Online Public
Outreach• Targeted
Stakeholder
Meetings
• Placemaking
Recommend-
actions• Retail Tenant Mix
Recommend-
actions• Draft Design
Standards +
Draft Plan• Draft Marketing
Strategies• Implementation
Matrix
• Online Public
Outreach• Targeted
Stakeholder
Meetings
The Retail Trade Area
The Retail Trade Area
The Retail Trade AreaThe Retail Trade Area
The Retail Trade Area
The Retail Trade Area
The Demographics
Demos
Williamsburg Population CitywidePrimary Trade Area (custom)
Regional Trade Area (12 mile
drive time)
2010 Population 14,068 66,924 89,837
2016 Population 14,956 72,830 97,884
2021 Population 15,398 78,233 105,260
Rate of Change 2016-2021 0.58% 1.44% 1.46%
Median Age 2010 24.5 42.0 40.7
Median Age 2016 24.9 43.7 42.2
Median Age 2021 36.3 45.2 43.3
Percent of Millennials (20-34) 201638.8% 19.8% 19.8
Percent of Pop Over 65 2016 15.3% 23.4% 21.4
# Households 2016 4,857 28,395 37,471
2016 Avg HH size 2.18 2.39 2.46
# Households 2021 5,945 30,565 40,338
2021 Avg HH size 2.18 2.4 2.47
Average HHI 2016 $76,822 $102,345 $95,780
Avg HHI 2021 $81,310 $111,144 $103,655
2016 % of Pop w BA or Higher 58.50% 50.40% 55.60%
2016 % of Pop w Graduate Degree25.30% 24.70% 21.80%
2016 % of Civilian Employment 95% 96.4% 96%
2016 of Civilian Employment 63.4% 66.3% 65%
The Audience
72,830
8,000
47,951
28,395
TARGET AUDIENCE PRIMARY TRADE AREA
Residents Students Workers Households
The Demographics
0 10 20 30 40 50 60 70
Cumulative
Silver & Gold
Golden Years
College Towns
Exurbanites
In Style
Williamsburg, VA Tapestry Analysis 2016
Regional Trade Area Primary Trade Area Citywide
The Demographics
$-
$20,000
$40,000
$60,000
$80,000
$100,000
$120,000
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
30.0%
35.0%
40.0%
45.0%
Citywide Primary Trade Area (Custom) Regional Trade Area (12 MilesDriving)
Comparison of Household Income 2016-2021
2016 Average HHI 2012 Average HHI
% of HH Income over $100K % of HH Income over 100K
The Retail Market
Williamsburg Retail Marketplace
CitywidePrimary Trade
Area
Regional Trade
AreaDemand
(Retail Potential)
Supply
(Retail Sales)Gap
Leakage
Factor
Total Retail Trade and Food & Drink $194,704,268 $ 357,597,737 $162,893,468 -29.5
Total Retail Trade $175,585,239 $268,015,575 $92,429,336 -20.8
Total Food & Drink $19,119,029 $89,583,162 $70,464,133 -64.8
Primary Trade Area
Demand
(Retail Potential)
Supply
(Retail Sales)Gap
Leakage
Factor
Total Retail Trade and Food & Drink $1,557,381,022 $1,249,409,815 $307,971,207 11
Total Retail Trade $1,406,606,463 $1,070,247,800 $336,358,663 13.6
Total Food & Drink $150,774,559 $179,162,015 $28,387,456 -8.6
Regional Trade Area
Demand
(Retail Potential)
Supply
(Retail Sales)Gap
Leakage
Factor
Total Retail Trade and Food & Drink $1,912,550,903 $2,754,860,757 $168,690,146 4.6
Total Retail Trade $1,726,892,737 $1,519,944,338 $206,948,399 6.4
Total Food & Drink $185,658,166 $223,916,419 -$38,248,253 -9.3
The Retail Market
Primary Trade Area
The Retail Market
Index of Williamsburg Retail Expenditures
CitywidePrimary Trade
Area
Regional
Trade Area
Apparel 105 130 122
Women's Apparel 106 135 125
Entertainment & Recreation 99 132 124
Fees for Sports 97 144 129
Food 104 132 121
Food at Home 103 128 120
Food Away from Home 105 131 123
Bakery Products 103 128 120
Alcoholic Beverages 109 134 125
Mortgage Payments 84 137 129
The Retail Market
Major Retail Centers Market Fundamentals
Williamsburg Hampton Roads
Retail Vacancy 7.6% 6.2%Average Asking Rents $15.36 $13.70 Range of Asking Rents $10-29.01 $8-21.00 Total Inventory 8+ Million SF 102+ Million SFUnder Construction 72,175 SF 608,730 SF
* Thalhimer Q2
Merchants Square New Town Shops on MainSettlers MarketWilliamsburg Premium OutletsWilliamsburg PotteryWilliamsburg Market Center601 Merrimac Trail
The Retail Market
The Retail Market
Thalhimer 2016Q2
The Retail Market
What We’ve Heard To Date
• Certain retail properties have a strong regional draw, pulling from
as far as Richmond and Norfolk
• Tourism and visitors to the market represent a significant portion of
the customer base including time shares
• Tourism spending outpaces other areas in VA yet declining at CW
• Student population is very targeted in their spending habits
• New Town has a higher retail occupancy than appears• Certain non-food related tenants are underperforming – largely
due to competition and lack of traffic
• “Bigger” box spaces increasingly difficult to lease
• Inconsistencies in hours of operation of downtown businesses
• Limited nightlife in downtown
• Downtown is bigger than the planning area
• “We love coming here, we do it every year”
Immediate Next Steps
• Stakeholder Interviews
• Finalize Data Collection & Analytics
• Brand Void Analysis
• Review of Best Practices
THANK YOU
Econsult Solutions1435 Walnut Street 4th Floor
Philadelphia PA 19102215-717-2777
www.econsultsolutions.com@econsultsolutns
Questions?