Johnstown expressway target site proposal
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Johnstown Expressway Target Site Proposal. Johnstown Economic Development Task Force April 5, 2004. Purpose. To propose the Johnstown, PA market as a potential site for Target. Agenda. Who are we? Why the Johnstown market? Why this site? Why Target? What’s the proposal?.

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Johnstown Expressway Target Site Proposal

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Johnstown expressway target site proposal

Johnstown ExpresswayTarget Site Proposal

Johnstown Economic Development Task Force

April 5, 2004


Purpose

Purpose

  • To propose the Johnstown, PA market as a potential site for Target


Agenda

Agenda

  • Who are we?

  • Why the Johnstown market?

  • Why this site?

  • Why Target?

  • What’s the proposal?


Who are we

Who are we?

  • Our team includes all the major economic development and political players in the market…

    • City, state, and federal level representatives

  • …partnered with Echo Development of Pittsburgh


Why johnstown

Why Johnstown?

  • Johnstown is the #1 most underserved secondary market in PA based on population

    • 78,000 for each mass merchandiser

      Sources: 2000 U.S. Census; 1997 U.S. Economic Census; walmart.com, samsclub.com, kmart.com, target.com


Why johnstown1

Why Johnstown?

  • Johnstown is 8th largest secondary market MSA in PA

    • Population = 233,000

  • Source: 2000 U.S. Census


Why johnstown2

Why Johnstown?

  • Johnstown’s population is larger than other secondary PA markets with existing Targets…

    Source: U.S. Census Bureau, 2000, target.com


Why johnstown3

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Why Johnstown?

  • Johnstown’s trade area is very large…

    • All or part of 7 counties

    • Population = 355,000

  • Sources: Crown American REIT 2000 U.S. Census


Why johnstown4

Why Johnstown?

  • …but it has little overlap with existing Target stores due to natural boundaries: mountains

    • Most routes across the mountains are 2-lane highways

    • Market is connected north-south by 4-lane expressway

Laurel Mountains

Allegheny Mountains

  • Sources: Mapquest, 2004


Why johnstown5

Why Johnstown?

  • Johnstown is the #2 most underserved MSA based on upscale households ($50k+)…

    • 8,000 for each mass merchandiser

      Sources: 2000 U.S. Census; 1997 U.S. Economic Census; walmart.com, samsclub.com, kmart.com, target.com


Why johnstown6

Why Johnstown?

  • …and its upscale ($50k+) demo is growing..

    Sources: 1990, 2000 U.S. Census


Why johnstown7

Why Johnstown?

  • …and its $50k population is competitive with other PA Target secondary markets

    Source: U.S. Census Bureau, 2000, target.com


Why johnstown8

Why Johnstown?

  • Johnstown is the #2 most underserved MSA

    based on college educated individuals

    • 7,300 for each mass merchandiser

      Sources: 2000 U.S. Census; 1997 U.S. Economic Census; walmart.com, samsclub.com, kmart.com, target.com


Why johnstown9

Why Johnstown?

  • …and its college educated demo is growing…

    Sources: 2000, 1990 U.S. Census


Why johnstown10

Why Johnstown?

  • … and its college educated population is competitive with other Target PA markets

    • Only 5% fewer than State College, home to Penn State

Source: U.S. Census Bureau, 2000


Why johnstown11

Why Johnstown?

  • Johnstown is the #2 most underserved MSA

    based on professional/managerial positions…

    • 8,500 for each mass merchandiser

      Sources: 2000 U.S. Census; 1997 U.S. Economic Census; walmart.com, samsclub.com, kmart.com, target.com


Why johnstown12

Why Johnstown?

…and its professional/managerial demo is growing

sources: 2000, 1990 U.S. Census


Why johnstown13

Why Johnstown?

  • In sum, Johnstown is competitive with other Target secondary PA markets, and it is:

    • Home to the largest medical community between Pittsburgh and Harrisburg…

Conemaugh Regional Medical System

(3,000+ employees)


Why johnstown14

Why Johnstown?

  • …Rated by the Milken Institute as one of the nation’s fastest growing “high tech hotspots” - Home to National Drug Intelligence Center and 2 high technology complexes

Windber Research Institute

Johnstown High Technology Park


Why johnstown15

Why Johnstown?

  • Host of larger city amenities:

    • 3 four- year universities

    • Sports arena with professional hockey

    • New $25MM convention center complex


Why this site

Why this site?

  • The site is the population center of region

    • 62% (146k) of the MSA’s population lives within

      15 miles/15 minutes

Site

15 miles/ 15 minutes


Why this site1

Why this site?

  • The site is a key “choke point” connecting:

    • the business/sports/tourist district and…

    • … its 2 large medical centers…

    • …with its largest/most upscale neighborhoods

      • 15904 and 15905 zip codes

        • Best $50k+, P/M, College Grad demos in MSA

Business/Sports/Tourist District

Major Medical Center #1

15905 Zip

15904 Zip

Site

Major Medical Center #2


Why this site2

Why this site?

  • The site is #4 traffic density spot in the market…

    …but the one with best positioned for incentives


Why this site3

Why this site?

  • The site is adjacent to 2 exits of a 4 lane limited access highway (Johnstown Expressway)

Walnut St. Exit

Site

Bedford St.

Exit

Johnstown Expressway


Why target

Why Target?

  • Johnstown fills a gap in Target coverage

    • 2.25 hours/81 miles between existing Targets

      • Greensburg and Altoona

  • Source: MapQuest, 2001


Why target1

Why Target?

  • Consumer demand is there for Target

    • 1,000+ residents have signed a petition asking Target to consider Johnstown

  • Actually, consumer demand is there for any mass merchandiser

    • 5,000 signed a petition to ask K-Mart to stay

      • “This store is going to close because the developer is selling the property to our competitor.”- Kmart spokeswoman Michele Jasukaitis

        Source: Johnstown Tribune-Democrat, March 15, 2003 and July 15, 2003


Why target2

Why Target?

  • Johnstown is already in a Target TV market

    • Johnstown-Altoona DMA

      • 3 of the 4 commercial TV stations in the DMA are based in Johnstown

      • All stations provide coverage of Johnstown plus other existing Targets in Altoona and State College

        Source: Nielsen Media Research, 1999


What is the proposal

What is the proposal?

  • Our plan duplicates a Gaithersburg, MD project

    • Gaithersburg uses a “main street” approach

      • 3 acre site

      • 2 level, 100,000 s.f. Target

      • Adjacent parking deck

        • ~ 600 spaces providing 5 spaces per 1,000 s.f.

      • Adjacent retail environment

        • Small specialty retail

          • i.e. Bath & Body Works; Barnes & Noble

        • Restaurants

          • i.e. Panera Bread, Ben & Jerry’s Ice Cream

            Source: Tony Tomasello, Gaithersburg Economic Development Department


What is the proposal1

What is the proposal?

  • Gaithersburg site looking toward Target


What is the proposal2

What is the proposal?

  • Gaithersburg site looking toward parking deck


What is the proposal3

What is the proposal?

  • Our task force offers a 5+ acre site…


What is the proposal4

What is the proposal?

  • …for a development similar to Gaithersburg

    - 180k s.f. retail/ 1,271 parking spaces

    - large format of the plan below is included in this package


What is the proposal5

What is the proposal?

  • Our task force would work with you in a public/private partnership to spearhead:

    • Site acquisition and control

    • Site clearance

    • Infrastructure upgrades

    • Parking deck development


What is the proposal6

What is the proposal?

  • …leaving Target/its developer to focus on:

    • Build-out for:

      • Anchor store

      • Out parcels

    • Surface parking


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