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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

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