downtownTo get to where you want to be, you first need to know where you are. –Friedrich Nietzsche  “DOWNTOWN REDEVELOPMENT 101” = All this talk about incentivizing businesses to come into @dtownAlbany makes us wonder if anyone in control has taken a good look at what the “Marketplace Profile” is for the area and tried to improve these fundamentals before throwing more good money toward the wrong direction.  In all successful real estate development we have had the pleasure of being a part of for the last 26 years, it all boils down to one main thing, WHAT WILL THE MARKET SUPPORT?”.  In this mass data world we live in now, it is easy to determine what sort of retailers or business will be successful based solely on the people in that particular market.  All national, successful retailers that have stockholder holding them accountable do their research before locating a store in a particular location. 

The following report outlines the needs and over supply of goods and services in Downtown Albany, Georgia.  It profiles the number of people and the income levels in the market.  It reflects the current goods and services being offered in the market and compares it to the current population and incomes in the market.  In order for success to happen, we have all got to work together to improve the basic components of the DOWNTOWN ALBANY market.  This will be done when we create an environment for a higher income population to live, work and play.  This will happen when we have nice residential living spaces to lease or sale readily available.  And we change the current perception that Downtown Albany is a good place to spend your money.

Not to go off on a negative rant here, the recent announcements about an expanded hotel and new retail storefronts are good for progress, but please, SOMEONE look at improving the #demographics of the market first.  Otherwise we will end up being where we were 20 years ago right after the Flood of ’94, with $250 million to invest, but no one to help sustain the effort once in invested.