At its meeting on Monday, November 4, 2013, the City Council will receive a report from BAE Urban Economics ("BAE") regarding its findings on an assessment of the commercial / retail market in Foster City.
BAE was engaged by the City Council to analyze demographics, sales data and trends and sales "leakage" (sales lost to other communities). They were further tasked with evaluating the existing retail centers and clusters in Foster City and identifying the implications of all the data on Foster City's retail marketplace. The City Council is seeking to better understanding market dynamics, opportunities and challenges within the retail and commercial sector of Foster City as part of the implementation of the Sustainable Foster City Plan's economic development strategies.
Fully understanding the retail environment is critical to the economic vitality and future planning of our City. The report from BAE will identify Foster City's opportunities to develop a more thriving retail environment, the strengths and weaknesses of the Foster City commercial / retail market, the most opportunistic business sectors for Foster City, how much commercial / retail space is needed to accommodate these opportunities and the assessment of how the proposed approximately 30,000 square feet commercial / retail center that is proposed part of the Foster Square development could enhance the Foster City retail experience.
All interested parties are encouraged to hear BAE's report first-hand, begin the dialog with the City Council regarding the findings in the report, and learn where the City will go from here in terms of evaluating the recommendations in the report. The meeting will take place on November 4, 2013, at 6:30 PM in the City Council Chambers located at 620 Foster City Blvd. It will also be broadcast live on FCTV (Comcast Channel 27, AT&T Channel 99, or online at www.fostercity.tv).
Questions about this item should be directed to Steve Toler, Assistant City Manager at 650-286-3214 or firstname.lastname@example.org, or Curtis Banks, Community Development Director at 650-286-3239 or email@example.com.
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City Hall - 610 Foster City Blvd.
Foster City, CA 94404