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.