Caption: Map of UIUC (2004) (Campus Retail Assessment)
This is a reduced-resolution page image for fast online browsing.
EXTRACTED TEXT FROM PAGE:
University of Illinois at Urbana-Champaign Section IV – 3 The development could be built in one of three ways: • Build all units immediately as a possible loss leader understanding that the developer may incur significant capital investment to attract the restaurants now Build the development in phases starting with two units now and adding the balance as the research park is developed Build all the units as a complete project when there are sufficient customers to support six units • • Not only does the food cluster concept satisfy the needs of the park’s employees, it would also attract the UIUC campus’ students and employees as well as the broader community, including nearby residential customers and visitors to the facilities on the south end of campus. Other positive attributes for this type of food clustering are: • • • • • • A large offering and wide variety for all palates and wallets for the park’s employees Critical mass of food/eatertainment for the broader market audience Higher performance potential per acre than traditional retail in terms of both sales and income generation The ability to provide a prepared pad and parking, which is very attractive to this type of food tenant A site with easy ingress and egress Likely tenants for this concept pay higher rents, advertise more, implement better build-outs and are more credit-worthy than other food and retail tenants Orchard Downs Today, Orchard Downs is graduate student housing occupied by adults and families. This is likely to remain true when the apartments are redeveloped and when the vacant portion of the parcel is put to use. New development under consideration includes upscale and varied housing, a senior residential community and/or an alumni village. Non-housing development should include a retail/entertainment/dining/service component. The east side of the Champaign-Urbana market is presently underserved; all of the market’s significant retail is located in the northwest corner of the trade area. The Orchard Downs site could serve the needs of the UIUC campus’ students but, more importantly, should be positioned primarily to address the shopping needs of the affluent consumer that lives in Urbana’s nearby, upscale neighborhoods. Further, graduate students and their families would make up the second most important component of the site’s target market. An affluent customer and a graduate student’s family would co-exist at a properly merchandised center. The upscale shopper may get greater benefit from a better selection of apparel and household goods, while the graduate student family would enjoy the expanded and nearby entertainment selection. Jones Lang LaSalle
| 
