Percent Complete: 33%
Start Date: 10/01/2019
End Date: 09/30/2021
The City has a significant amount of retail leakage. To alleviate this issue, the EDO is developing a retail recruitment strategy. Staff is working with Retail Strategies to identify retail gaps and potential opportunities to fill those gaps. Finding the right retail mix and density is essential for a community seeking to create a sense of place for residents, businesses and visitors.
The Mall, Village Square and Cornerstone were moving along until the COVID-19 crisis hit. Businesses have begun to reopen, but the capacity is impacting them. Retail and restaurants are closing all around the City. Our strategy is going to need to be reevaluated. The retail vacancy rate in September 2020 was only 4.0%, so that is a positive.
Kristi spoke with Sarah Beth Thornton at Retail Strategies and received a proposal for the company to due retail recruitment starting on October 1, 2020. The proposed amount is $35K and we can utilize existing funding. It is included in the 2021 Business Plan.
Initiatives: Closed Out/Completed | On Target/In Progress | Behind Schedule/Late | Discussion Needed Retreat/Workshop Item | Delay/Hold | No Milestone | Not Defined
Initiatives: Closed Out/Completed | On Target/In Progress | Behind Schedule/Late | Discussion Needed | Retreat/Workshop Item | Delay/Hold | No Milestone | Not Defined
City of Coral Springs | 9500 West Sample Road, Coral Springs, FL 33065 | 954-344-1000