8.1. SR 07-18-2016 - Laserfiche WebLink

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Executive Summary Market Analysis: The primary goal of this study was to explore the community need and feasibility of a new community recreation facility in the City of Elk River through market analysis, stakeholder meetings, community meetings, and operations analysis. The Elk River service area population is growing at a moderate rate with the population projected to grow about 2.6% over the next five years to reach a population of 24,175 people by the year 2020. The demographic profile of the community indicates that the age group distribution is somewhat mixed. There is a higher concentration of under 5, 5-17, 25-44 and 45- 54 age groups than the national level. This points to a large number of families with young children in the service area. The median age of Elk River service area is younger than the national level while the median household income is significantly higher. Age and household income are two determining factors that drive participation in sports and wellness activities. The demographic profile suggests that there will be continued support and demand for recreation activities and programs in the future. There are limited recreation and fitness providers in the service area and the other service providers have a narrow business focus on the adult fitness market while the wellness and recreation opportunity for young people, seniors and athletic teams are underserved in the community. The City of Elk River has addressed many community needs through a partnership with the YMCA. The need for improved ice skating facilities along with the need for more meeting room and banquet space, senior activities and group fitness component was validated through the extensive public input process used during the market analysis phase to assess community needs. Over 50 people were involved with the stakeholder meetings representing youth sports groups, health care, School District, students, seniors, Chamber of Commerce, elected officials, major employers, coaches, and community members. Statistics from the National Sporting Goods Association (NSGA) were overlaid on to the demographic profile of the service areas to determine the market potential for various activities that can take place within a community recreation center. The market analysis concluded that the Elk River area is underserved for recreation swimming, fitness and recreation opportunities, especially for family activities, youth fitness and senior citizens. These groups are also the same groups that have a significant concentration represented in the age group distribution. APPENDIX A APPENDIX A