Market analysis and economic development strategy helps the Village of Olympia Fields target hotel, restaurant, and retail opportunities
- Market analysis for 2 commercial corridors in south suburban Chicago
- Identifying opportunities, constraints, and potential targets, along with the strategy to attract them
Requirement
VSKA prepared a market analysis and economic development strategy for 2 commercial corridors for the Village of Olympia Fields, a small but upscale suburb of Chicago.
Approach
Covering everything from retail, restaurant, and entertainment to office and hotel opportunities, we analyzed both vacant and potentially available sites.
The analysis identified the opportunities and constraints facing the village. We also looked at potential targets and outlined a strategy to attract them, including public sector improvements, staff responsibilities, and priorities for near, mid-, and longer-term actions.
Results
The Village is actively in discussions with a hotel developer and restaurateur for 2 key sites.