Development of Inner-City Retail Niche Markets

Abstract

This chapter outlines major issues concerning development of inner-city retail niche markets. We document the substantial amount of new retail construction in midwestern cities which has occurred despite the lackluster growth in new housing. Some of the problematic issues facing developers such as data analysis, site assembly, and project financing are identified. Because of high development costs and resulting market failure, the key factor to a successful retail project is the gap financing from public or quasi-public entities.