The Vision
Redevelopment is a tool for breathing back life into forgotten spaces, supporting local economies, and creating community hubs. You’ve all passed an old structure in your town and daydreamed, “Wouldn’t it be cool if they turned that into…?”
Those visions are the starting point, but successful projects require a strategic approach that balances community needs, tenant goals, and investor priorities.
During one of Georgia Power’s retail-focused educational sessions, Edie Weintraub from terra alma, a commercial real estate advisory firm, shared insightful case studies and proven techniques for emerging neighborhoods. Highlighting best practices for retail redevelopment while showcasing real-world examples, she shared how communities have turned a redevelopment dream into retail reality.
Best Practices for Retail Redevelopment
1. Anchor Efforts Around Community Needs
Community-focused retail redevelopment thrives on understanding residents. Conduct demographic studies and create "resident avatars" to analyze the population’s preferences and habits. This helps tailor retail offerings to resonate with customers and ensure long term sustainability.
2. Leverage Historic and Architectural Appeal
Preserve and celebrate unique architectural elements in retail redevelopment. Historic features can add character and attract businesses that value the charm of a distinctive space. Highlight these features through storytelling and design. Example: Fairburn’s historic architecture was identified as a driving strength in its SWOT analysis. By coupling preservation efforts with retail innovation, plans are formed to set up a cohesive and functional passage.
3. Create a Cohesive Retail Mix
Retail thrives when there’s a balance of business types catering to needs and experiences. Maximize synergy by grouping businesses that complement each other — for instance, a mix of boutiques, restaurants, and service providers. This ensures customers view the community as a destination rather than a series of disconnected storefronts.
4. Foster Engagement Through Events and Activations
Retail zones with community-focused programming see stronger foot traffic and customer loyalty over time. Host cultural events, street markets, or even pop-up shops to engage residents and provide additional exposure for tenants.
- Example: Cities like Duluth, Norcross, and Lawrenceville take inspiration from successful walkable downtown models where events like First Fridays foster connectivity and reinvigorate retail zones.
5. Strike a Balance Between Development and Convenience
One of the challenges in retail redevelopment, especially in small downtowns, is accommodating growth without compromising convenience. Little deters people more than not being able to find parking. Mixed-use developments are one way to alleviate this. They provide spaces for businesses, residents, and visitors, while integrating parking solutions.
- Example: Policies that allow for shared parking arrangements between businesses with different operating hours (such as a doctor’s office and a brewpub) may improve parking access without the need for adding more parking spaces.
6. Support Local Businesses
Local businesses are vital to creating a unique retail environment and retaining cash flow within the community. Actively engage with local entrepreneurs and offer support through incentives, training, and access to resources. Weintraub shared research that shows at least 70% of thriving shopping centers are made up of local businesses, which contribute more meaningfully to the local economy than national chains.
7. Use Data to Drive Decisions
Partner with local business managers to access specific sales data and better understand buying trends. Reliable data equips developers and investors with actionable insights that align retail offerings to customer behavior.
- Example: The award-winning research team at Georgia Power Economic Development has access to some of the most reliable data services in our industry – from ESRI, Datafy to custom tools. Talk with your Regional Economic Development manager to determine what information can help turn ideas into actionable insights.
Looking Ahead
Retail redevelopment is more than repurposing storefronts — it’s about enriching communities and fostering long-lasting connections. Real success lies in understanding the intricate needs of the space, using local stories, and ensuring a mix of modern amenities and tradition.
Georgia Power Economic Development’s Regional Managers are available to support your community to turn daydreams into plans. Join us at one of our retail-focused events later this year or contact your Regional Economic Development Manager to learn how we can help.
