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GROCERY STORE Flint & Genesee Chamber of Commerce | June 2016 FEASIBILITY ANALYSIS
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Page 1: GROCERY STORE - Flint Beat

GROCERY STOREFlint & Genesee Chamber of Commerce | June 2016

FEASIBILITYANALYSIS

Page 2: GROCERY STORE - Flint Beat

PROJECT CONTRACTOR, Streetsense

BRAND STRATEGIST

RETAIL MARKET ANALYST

ARCHITECT

PROJECT DIRECTOR

Bethesda, Maryland

Page 3: GROCERY STORE - Flint Beat

Streetsense WORK

Existing Clients• University of Pennsylvania• Johns Hopkins University• DC Office of Planning• City of Pittsburgh• City of Ann Arbor• City of Durham, NC• City of Orlando, FL• Marriott Hotels• Hyatt Hotels• Ritz Carlton• Starbucks• Jos. A. Banks• The JBG Companies• Hines Corporation• Chapman Development• Peterson Companies• Winn Companies

Page 4: GROCERY STORE - Flint Beat

PURPOSE OF THE STUDY

What is the best method to

improve access to full-service

grocery stores on the north end

while also reinforcing the residents’

sense of pride, hope, and

community?

Page 5: GROCERY STORE - Flint Beat

6

FLINT FOOD DESERT

• DEFINITION: an area where

access to fresh produce and

protein is limited, compromised,

or non-existent within reasonable

means.

• Grocery stores over 10,000

square feet are large enough to

be a “food oasis.”

• Flint’s northend has been a “food

desert” since the Kroger left

Pierson Road in July, 2014.

Page 6: GROCERY STORE - Flint Beat

6

FLINT GROCERY STUDY PROCESS

Initial Scope

• Market Analysis

• Planning

• Financial Analysis

Revised Scope

• Local Grocer Standards

Grocery Strategy

Page 7: GROCERY STORE - Flint Beat

UNCOVERING THE SOLUTION

$30-$45 million in sales

Page 8: GROCERY STORE - Flint Beat

UNCOVERING THE SOLUTION

National Grocery Option

Page 9: GROCERY STORE - Flint Beat

MARKET POTENTIAL

Local Grocery Option

Page 10: GROCERY STORE - Flint Beat

MARKET POTENTIAL

$4-$8 million in sales

$4-$8 million in sales

$4-$8 million in sales

$4-$8 million in sales

$4-$8 million in sales

$4-$8 million in sales$2-$4 million in sales

Page 11: GROCERY STORE - Flint Beat

NATIONAL GROCERY

CHAIN

REGIONAL GROCERY -

PIERSON ROAD

Facility Size 50,000 square feet 22,000 square feet

Total Estimated Sales $19 million $8 million

Sales/Square Feet $525 $350

Supportable Square Feet 18,546 square feet 27,819 square feet

Parking Requirements 200 88

Construction-Period Jobs Created 76 direct; 119 total jobs 44 direct; 69 total jobs

Permanent Jobs Created 111 direct; 168 total jobs 49 direct; 74 total jobs

Total Development Costs** $11.6 - $14.1 million $6.6 - $8.1million

Initial Capital Subsidy $8.8 - $10.8 million $4.1 - $5.0 million

Operating Subsidy with Market-Rate

Financing

$749,900 - $916,500 $0

Operating Subsidy with 2% Financing $511,400 - $625,000 $0

EVALUATION MATRIX

FINDINGS &RECOMMENDATIONS

Flint Grocery Study |June 2016 39

* These costs are for the development of specifically a grocery store.

** Development costs are subject to review and revision pending confirmation from local experts. These values are the costs of developing just the grocery store.

Page 12: GROCERY STORE - Flint Beat

MARKET POTENTIAL

Local Grocery Option

Page 13: GROCERY STORE - Flint Beat

NEW GROCERY SITES

Flint Grocery Study |June 2016

SITE ACCESS

PARKING

VISIBILITY

STORE PLACEMENT

Page 14: GROCERY STORE - Flint Beat

Flint Grocery Study |June 2016

Community Grocery

Clinic / Neighborhood Retail

Aquaponics Center

Multifamily Residential

Community Open Space

±22,000 sf

±7,500 sf

±30,000 sf

±120 units

±1/2 acre

Pierson Road Site

Site Program Details

Page 15: GROCERY STORE - Flint Beat

Flint Grocery Study |June 2016 43

Grocery

PiersonRoad

Multifamily Residential

Aquaponics Center

Eagle’s Nest Academy

Clio

Ro

ad

Clinic

0 75’ 150’ 300’’

Page 16: GROCERY STORE - Flint Beat

MARKET POTENTIAL

Local Grocery Option

Page 17: GROCERY STORE - Flint Beat

EXISTING RENOVATIONS

Flint Grocery Study |June 2016

Page 18: GROCERY STORE - Flint Beat

AUDIT MATRIX

Market Conditions

Competitive Analysis

Density

Demand

Design: Exterior

Site Access & Parking

Visibility & Signage

Store Placement

Design: Interior

Aisles

Cash Wrap

Storage/Office

Operations

Purchasing & Distribution

Compliance

Day-to-Day Considerations

Management

Training

Collaboration

Marketing

Social

Civic Use

Complementary Uses

Community Relations

Page 19: GROCERY STORE - Flint Beat

SAMPLE AUDIT

Market Conditions

Competitive Analysis

Density

Demand

Design: Exterior

Site Access & Parking

Visibility & Signage

Store Placement

Design: Interior

Aisles

Cash Wrap

Storage/Office

Operations

Purchasing & Distribution

Compliance

Day-to-Day Considerations

Management

Training

Collaboration

Marketing

Social

Civic Use

Complementary Uses

Community Relations

$12K

$22K

$8K

$74K

$12K

$80K

$12K

$25K

$6K

Page 20: GROCERY STORE - Flint Beat

COMPLEMENTARY NOT COMPETITIVE

SHARED SERVICES

&

COLLECTIVE BUYING

Page 21: GROCERY STORE - Flint Beat

GROCERY STOREFlint & Genesee Chamber of Commerce | June 2016

FEASIBILITYANALYSIS


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