7.2. HRSR 08-25-2003 - Laserfiche WebLink

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Aug . 21 . 2003 3 : 36PM No . 0020 P . 2/3 40,11 I' Research Inc. • August 20,2003 Ms. Catherine Mehelich Director of Economic Development City of Elk River 13065 Orono Parkway Elk River, Minnesota 55330 Dear Ms. Mehelich: This letter addresses the following question you posed regarding Downtown Elk River: Who uses the Downtown? The answer must be two-fold and must identify the difference between who currently uses the Downtown and who will use the Downtown as new uses and new housing are incorporated into the area. Downtown currently has several age groups that patronize businesses in the Downtown, • including predominantly younger and older people(under 30 and over 65). Downtown businesses however, indicated drawing a diverse mix of people at various times for various reasons. The Post Office also draws a large group of people,predominantly older or business customers that have a post office box. The financial institutions in the Downtown also draw a wide variety of customers. Incorporating housing into the Downtown will draw primarily singles, and married couples without children both young and old,because of the type of product intended to be developed (i.e. multifamily-for-sale and rental). Incorporating restaurants will draw more of the young to mid-age group with and without children depending on the restaurant format. If other types of cultural activities such as those being proposed by the Elk River Arts Council are held in the Downtown area,they will draw a wide cross section of people from the community and from outside of the community. The target markets for Downtown depend less on"Downtown" as a physical place and more on the types of products and services offered in the Downtown. As Downtown is redeveloped and new uses are added,the groups of people drawn to the Downtown will change and expand. • 615 1'`Avenue NE #400 Minneapolis,MN 55413 (612)338-0012 (612)904-7979 FAX