Managing the Growth of Retail Space: Retail Market Dynamics in Lawrence, Kansas Kirk McClure
Many communities seek to preserve and protect their existing downtown shopping district or, if that district has experienced deterioration, they pursue various strategies to revitalize the downtown. A host of research is available concerning community redevelopment, focused particularly upon downtown revitalization (Black 1983; Frieden and Sagalyn 1989; Paumier 1988; Smith 1988; Urban Land Institute 1992). Communities across the nation have fa$ade improvement programs, building renovation programs, and historic preservation programs designed to preserve their downtown shopping districts. While the programs all have their place, fundamental economic analysis of the retail market is often missing from these revitalization and preservation programs. A key component of any effort designed to preserve a downtown district is to ensure that the supply of retail space is supportable by the level of spending that exists within the market area.