Study: Retail viability in Fairfax City mixed use development
2024-07-22
(Press-News.org)
Center for Retail Transformation (CRT) and Center for Real Estate Entrepreneurship (CREE) jointly received funding to study retail viability led by Mehmet Altug, Associate Professor, Information Systems and Operations Management and Director of CRT, Costello College of Business.
Led by Mehmet Altug, the two centers CRT and CREE at Costello College of Business have teamed up to determine market-specific retail opportunities within Fairfax City, specifically within five Small Area Plans. The project will specifically consider the viability of mixed-use retail within the Small Area Plans, the unique conditions at work within Fairfax City (e.g., traffic conditions, current and future development, the development and goals of the Small Area Plans, the creation of place, the existing strength of the retail market, historic leasing success, and the effectiveness of coordinated marketing with Fairfax County Economic Development programs, etc.).
The final deliverable will be a presentation to the FCED team and a final document that FCED staff can utilize and distribute to site developers, the mayor and members of the City Council, Planning Commission, and Community Development and Planning staff.
The team received $20,000 from City of Fairfax for this project. Funding began in June 2024 and will end in late July 2024.
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[Press-News.org] Study: Retail viability in Fairfax City mixed use development
