Identifying Business/Economic/Community Development Opportunities

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Identifying Business/Economic/Community Development Opportunities

Introduction

In this assignment, the student is supposed to find a piece of vacant parcel (or multiple contiguous vacant parcels) or a vacant building/building complex in a local community and identity the potential development/redevelopment scenarios.

Study Area

You can use the parcel GIS data, local MLS listing for land sale, Google, or personal knowledge to identify a piece of vacant parcel (or multiple contiguous vacant parcels) for a local community to complete your assignment. The parcel(s) should NOT be within a large residential development subdivision. Instead, isolated parcels, or parcels with differential zoning requirements from the surroundings, will be a better option for this assignment. Alternatively, you can identify any vacant building/building complex that you think redevelopment is imperative. Then proceed to Tasks to gather some basic information about the study area and its context.

Tasks

1. Use Business Analyst Online to gather some demographic and economic information within the 15-minute drive time of your study area.

2. Use Business Analyst Online to conduct research on various market potentials within the 15- minute drive time of your study area.

3. Use Business Analyst Online to identify leakage and surplus of industries/businesses within the 15-minute drive time of your study area.

4. Use Business Analyst Online to identify consumption patterns within the 15-minute drive time of your study area.

5. Then comprehensively determine the best business/economic/community development use of the parcel(s), or the best adaptive reuse of the vacant building/building complex. If there are multiple parcels with different owners, pay attention to land assembly issues. State whether you will demolish or preserve the building/building complex

Submission

Your assignment should follow the similar structure and formatting requirements as in Assignment #1 and #2, including a cover page, Table of Contents, List of Tables, List of Figures, Executive Summary, main body of the report, references, etc. Include at least the following in your report:

1) Demographic characteristics, economic conditions, market potential, industrial leakage and surplus, consumption patterns, and other criteria to identify the development/redevelopment potentials. Present only the information relevant to your scenario(s). Carefully coordinate the selection of charts, tables, and texts in presenting your materials.

2) Lay out the development/redevelopment scenario(s). If you have multiple scenarios select the best one based on a quick back-of-the-envelope comparison. The detailed feasibility study of the best scenario will be in Assignment 5. Briefly describe your best scenario in terms of the use/reuse of the site and building(s), and site and building design.