"Assuming public-private partnerships are forged to support downtown office expansion, we estimate that 100,000 to 150,000 square feet of office and 30,000 to 60,000 square feet of storefront retail can be absorbed in Downtown over the next ten years.
Other opportunities exist in addition to those listed above. Downtown can likely support one or two hotels, despite the potential support of three higher education institutions, current hospitality options are almost all located outside Downtown.
While demand for grocers in Columbia is limited, opportunities likely exist for specialty grocers selling organic and quality prepared foods. With this, downtown Columbia would have a typically elusive amenity essential to the marketability and livability of urban places."
—H3 Studio Consulting, October 2010
"..the city of Columbia can expect another 3,800 households over five years from roughly 39,700 in 2008 to 43,5000 in 2013. This would create added demand in the city for about 76,000 retail square feet, excluding the replacement of space that becomes obsolete or otherwise uncompetitive. Extending that to the rest of Boone County, the added retail need would be about 126,000 net new square feet.
Some of this can and should be clearly met in the downtown area as the university continues to grow and as the city attracts and retains younger households."
—Development Strategies, April 2009
"Assuming public-private partnerships are forged to support downtown office expansion, we estimate that 100,000 to 150,000 square feet of office and 30,000 to 60,000 square feet of storefront retail can be absorbed in Downtown over the next ten years."
—H3 Studio Consulting, October 2010
"Future office demand is estimated by analyzing employment growth by industry, and determining how much-if any-office space each worker will require. Office demand can be calculated by using employment projections to determine future space needs..We project that the addition of 761 office jobs per year will drive annual demand for office space to 230,000 square feet, or 2.3 million square feet over ten years. Again, these number are for the Central Missouri Region.
We estimate that Columbia will capture between 45 to 55 percent of regional demand based on the scale of the Columbia economy compared to the rest of the Central Missouri Region. This amounts to an addition of 1.0 to 1.3 million square feet of office space in the city over ten years."
—Development Strategies, April 2009
"...a significant market opportunity exists to add a substantial amount of housing to the downtown over the next 10 to 15 years, since consumer/household attitudes have embraced the viability of urban living, and adding more residents will strengthen the commercial market. The city of Columbia (population: 100,900) grew by 19 percent over the past decade, and the Columbia MSA is adding on average 1,250 housing units annually (current economic conditions notwithstanding.) National studies frequently indicate that one-quarter to one-third of many housing markets would prefer to live in denser, walkable communities. After subtracting those who would likely prefer a new urban product over downtown living, it is reasonable to expect a demand for about 125 (1,050 to 1250 over 10 years) new housing units per year in downtown Columbia. This assumes a broad range of housing products, at a variety of price points and rentals, over 10-years including:
500 market rate, rental units
. 250 student housing units
. 250 upscale rental units
250 affordable rental units (targeting those with annual household incomes of $20K-$35K)
300-500 for sale units
. 250 moderately-priced townhomes ($200K-$250K)
. 250 upscale townhomes/condominiums($225K-$375K)"
—H3 Studio Consulting, October 2010
"Analysis of incomes and rental affordability helps determine the level of market support for apartments at different price points..The first (insight) is a rather obvious paradox that the residents with the lower incomes actually drive the market for high-rent apartments. This is because students generally have incomes below $15,000 but, because they have supplemental income from their parents and student loans, they are able to afford higher-priced housing than their incomes would seem to indicate. Plus, they are often more willing than other types of households to accept roommates where total rent can be shared to afford a more expensive unit.
The second insight is that there is a substantial amount of unmet demand for high-end apartment housing..there are roughly 12,000 renter households in the city that earn between $35,000 and $75,000 annually. These are not students; they tend to be young professionals, singles, and recent transfers who are not yet willing to anchor themselves down with a mortgage. Such residents are often able to pay in excess of $1,000 per month in rent, yet few high-quality products are offered that directly target this market, as opposed to numerous products that target students..
If Columbia is a growing city (and metro area, for that matter), then it will need additional housing to absorb the "net new" population moving into the city..the population of Columbia is projected to increase by about eight percent over the next five years, adding some 7,900 residents. The city would also add ten percent more households for an increase of 3,800."
—Development Strategies, April 2009
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Overview of market demand. Retail, office and residential demand.
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Retail/Restaurant Survey Report. Find out what types of businesses District customers want.
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Columbia Kudos
Best Place for Start Ups.
Columbia Ranked #1 by Business Week.
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Best Place in Missouri to Open a Restaurant in 2010.
Columbia Ranked #46 in Entire Nation.
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Best Small Place For Business And Careers for 2010.
Columbia ranked #8 in country, #1 in state.
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Columbia Ranked #9 in Nation.
2009 report names Columbia as one of the top college towns.
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Columbia Named to Best Towns of 2008 List.
Outside Magazine ranks Columbia 10th in nation.
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Best Place in Missouri to Start a Business
Columbia 14th in nation; 5th among cities of 250,000 or less.
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Columbia named Most Creative Community.
Columbia first in the state to receive honor.
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Ranked by Forbes as One of the Smartest Cities.
Columbia is 11th in nation.
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6th Best in Nation for College Educated Workers.
Creative workers key for knowledge-based companies.
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Country Homes Top Green Cities.
Columbia ranked 7th for green lifestyles and quality of life.
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