In July 2022, the Alliance contracted with ECONorthwest to work on a retail market study for Pioneer Square. This effort will follow a more targeted retail environment study in the northeast section of the neighborhood also led by ECONorthwest.
The retail market study will begin with the Alliance team to identify key stakeholders to engage in 1-2 focus groups, which will include business owners, property owners, real estate professionals, and key organization partners. Feedback from the focus groups will inform analytical tasks and feed directly into potential recommendations to support economic development and activation across the district.
ECONorthwest will also conduct a targeted market analysis to provide Alliance staff, BIA members, community stakeholders, and partners with a baseline summary of market conditions and market trends that can help support utilization of vacant commercial space, and business and real estate investment.
Looking forward, ECONorthwest will develop a final report for both the Northeast Pioneer Square and neighborhood-wide studies, which will be accessible, concise, and compelling to help property owners understand where and why retail can support financial and operational goals and to communicate to decisions makers and government officials how additional retail and services are supported by the neighborhood and how the economic activity generated by new businesses can support broader district goals.