As part of its ongoing
efforts to assist in the growth and development of the Northeast Shore
Collinwood neighborhood in Cleveland, Northeast Shores Development Corporation
commissioned DiSalvo Development Advisors, LLC to conduct a Retail Market Analysis
of the East 185th street retail district.
The East 185th Street business district runs along East 185th Street
from Lakeshore Boulevard to the Interstate 90 exit ramp. The study identifies a
number of potential areas for growth and market driven (re)development. There
is a sizable, and currently under-served, audience of daytime employees in the
district (including employees of Euclid Hospital, Hospice of the Western
Reserve, Villa Angela St Joseph High School) and local Cleveland and Euclid
residents. Northeast Shores Development Corporation is seeking entrepreneurs interested
in taking advantage of these opportunities in the well situated East 185th
retail district.
Based on DiSalvo Development
Advisors' (DDA) data collection, in-person interviews, analysis of
demographics, consumer spending patterns, retail sales and an assessment of the
characteristics of East 185th Street District, they have determined that a
market exists for additional restaurants on East 185th Street. Restaurants
would also serve as the catalyst for further growth. Under-represented retail
businesses in the shopping district include pet stores, apparel and
accessories, specialty food, office supplies, books/music and business
services. The study points out that traffic patterns on East 185th Street
remain strong and home prices have stabilized.
The analysis also points out the vacancy rate of three significant
properties accounts for 43% of the vacant ground floor space on East 185th
Street. Several strengths the district
offers include recent infrastructure investment of several banks and that grocery
services adequately accommodate consumer demand.
The in depth Retail Market Analysis
created by DiSlavo Development Advisors is available for view on Northeast
Shores Development Corporation's web site or available by request for current
and potential business or property owners. Check it out at:
Northeast Shores is excited to have
this in-depth study available that can help developers and entrepreneurs find
their niche on East 185th St. For more information about East 185th Street
please visit: http://northeastshores.org.
Northeast Shores Development Corporation
is a non-profit organization that helps entrepreneurs bring their business
ideas to market and increases home ownership in the North Shores Collinwood
neighborhood. Over the last 10 years, their activities have resulted in over
$42 million in neighborhood investment.