Consumers in search of convenience and value are deciding how and when they shop. As a result, retailers are giving consumers more ways to shop than the traditional brick and mortar store and online shopping. Also, consumers are choosing to spend their time and money on experiences rather than traditional goods. Many are buying less. Some are trying new subscription services like Dollar Shave Club, Blue Apron, and Stitch Fix to name a few. These consumer trends are profoundly affecting the retail industry. Big box stores appear most affected. Yet, retailers of all kinds are paying close attention and working to adapt. Growing vacancies in shopping centers nationally and in Centennial lead to the conclusion that we have too much retail space. It’s also often the wrong kind of retail space to accommodate the next generation of retail.
The City is taking proactive action, guided by the City’s comprehensive plan Centennial Next. We are embarking on a multi-year effort to study, develop, and put in place a future-ready retail strategy. The retail reinvestment strategy will include each of our retail corridors. Five corridors will be studied, the first being University Blvd. Following that are the Smoky Hill, County Line Road, Arapahoe Road, and I-25 Corridor. The corridor strategies, will identify a future-retail vision. A vision that considers the potential opportunities for:
The Retail Corridor Studies include five corridors across the City. The first corridor studied is University Blvd. Learn about the University Corridor Study.
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