Historically, retail development has been a significant land use of choice driven by longstanding socio-economic demand factors that have impacted virtually every neighborhood. Currently, the supply of national retail space exceeds the demand for it, primarily due to the recent changes in lifestyle choices referenced herein. As a result, many communities are left with acres of parking and the traffic congestion issues commonly associated with the construction of traditional neighborhood shopping centers.
Nonetheless, retail uses still represent the largest non-farm economic sector because community building with economic development initiatives tend to focus on recruiting big companies and industries. FUTURA understands that retailers come in many profiles and in magnitudes that tend to be very sensitive to economic swings. Thus, making it critical to create and/or empower mix-use neighborhood communities capable of developing sustainable investment strategies to help attract and retain the right retailers.
FUTURA understands that the sales tax revenue generated by retailers is substantial; therefore, identifying retailers that are the best match for its communities’ needs and interests is critical. The creation and expansion of neighborhood communities that promote healthy-lifestyle choices can help keep sales tax dollars within a community’s general fund; thus, allowing it to invest the money back into the local public projects and services that make it great to begin with. Bottom line, if residents leave a neighborhood to shop at their preferred retail stores, those sales tax dollars end up benefitting a neighboring community.
It’s finally been proven that creating mix-use communities that provide convenient shopping and dining options greatly contribute to a community’s quality of life; therefore, FUTURA focuses on recruiting the retailers that are the best match for each of its communities’ desires. Otherwise, residents may continue to bypass local retailers in favor of others that provide the products, services, or experiences they seek.
FUTURA focuses in the creation of smart communities to promote profitable and sustainable lifestyle centers allowing existing and future retailers the ability to optimize their location, marketing and merchandising strategies that contribute to long-term success. In addition, we understand that retail development efforts shouldn’t just focus exclusively on recruitment opportunities because it is equally important to support existing retailers as part of integrating any new development or investment strategy.