Demand Analysis
• RCLCO completed a statistical demand analysis for each of the
land uses including for-sale residential, for-rent residential, retail,
office, and industrial. They are provided in Exhibits VI-6 to VI-10.
• For each of the land uses, we completed a “Limited Employment
Summary of Demand, Both Scenarios, 2014-2035
Summary of Demand
2014-2024 2025-2035
Limited Employment Center Scenario
Center Scenario” which was based upon current capture of each
land uses near or in the study area. We further completed a
“Regional Employment Center Scenario” that captured land use
based upon how the area would perform it is behaved as a
regionally-significant employment center.
For-Sale Residential
1,918
1,535
For-Rent Residential
233
174
Total Residential
2,151
1,709
Retail SF
200,279
159,071
Office SF
43,621
22,054
Industrial SF
57,430
14,137
• The residential demand models are based upon household growth
in the region, the percent of new households likely to be either
renters or owners, and the interest in those renters or owners in
locating within the City of Chesapeake, and then within the study
area.
Total SF Commercial
301,329
195,262
Summary of Demand
2014-2024 2025-2035
Employment Center Scenario
• The retail demand model is based upon the two scenarios of
household growth within the study area. Each household in the
overall region supports approximately 85 square feet of retail. We
multiplied the new households by the estimated square feet of retail
they support to understand the long-term opportunity for retail in the
study area.
For-Sale Residential
2,278
1,871
For-Rent Residential
448
579
Total Residential
2,726
2,450
Retail SF
240,319
214,722
Office SF
233,693
482,966
Industrial SF
114 859
28 273
• The office and industrial demands are based upon projected
employment growth in the region, the conversion of those
employees into square feet of office/industrial, and the capture of
the square feet in the study area under both scenarios.
,
,
Total SF Commercial
588,871
725,961
Dominion Boulevard | City of Chesapeake | April 11, 2014 | E4-11982.40
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