Consultants to present Downtown Market Assessment results Dec. 8

Consultants to present Downtown Market Assessment results Dec. 8

RRC Associates completes process that characterizes Downtown business

DURANGO, Colo. – Consultants retained to develop a Market Assessment and Downtown Management Plan for Durango will present the results of Phase 1, Mon., Dec. 8, 3 to 5 p.m. in the Bank of Colorado’s board room, 1199 Main Ave. Those interested in learning more about the methodology, findings and next steps are encouraged to attend.

Last spring, Boulder-based RRC Associates (www.rrcassoc.com) was retained to oversee the effort by the Business Improvement District (BID) board of directors in cooperation with the City of Durango, La Plata Economic Development Action Partnership (LEAD) and members of the private sector. Durango’s project is being managed by Nolan Rosall and Angela Atkinson, who will be on hand to discuss the process and results Dec. 8.

An outgrowth of the Downtown Vision and Strategic Plan adopted by City Council in 2006, the market assessment and management plan is intended as part of the effort to help sustain the economic vitality of the BID, which includes North Main in addition to the Historic Downtown.

“The results of this phase are very interesting,” said Jasper Welch, coordinator for the BID board. “Some of the findings are probably what everyone would expect – like more parking – but other things were revealed that we hadn’t expected. The best part is that the study gives the BID, the City and merchants some substantive data to move forward on various projects. The assessment is a roadmap for now and well into the future.”

The Market Assessment, or Phase 1, included a downtown market analysis, identification of local economic trends and user groups, the segregation of local resident and tourist economic impacts, quantification of sales “leakage” and brand positioning. A total of 664 intercept surveys were conducted on Main and E. 2^nd Avenues between March 18 and October 14. In addition, 2,500 mail-back surveys were sent to La Plata County residents in October, with approximately 400 completed and returned.

With the Market Assessment complete, RRC will move on to the second phase of the project: development of a Downtown Management Plan. The plan will be based on the findings from the market research and ideally identify an organizational structure, financing plan and implementation plan with phasing and roles/responsibilities identification.

Following the public meeting, a copy of the completed Market Assessment will be posted on the BID web site, www.downtowndurango.org. Contact the BID office, 375.5067 for further information.

The Durango Business Improvement District was formed in 1997 with a goal and mission to support businesses within the District by assisting with special event marketing, providing research on topics of concern to the District (facilities, special events, best practices), planning and development of new facilities, and providing capital budget for equipment that enhances business in the District. Funding is generated by a 1.5 mill levy on property owners within the district, with additional marketing dollars contributed by the City of Durango and Durango Area Tourism Office. BID Board members are John Wells, presiding officer; Bob Allen, Karen Barger, Rod Barker and Tim Wheeler.