HomeMy WebLinkAboutAppendix
Preliminary
Market
Overview
for
the
Georgetown
Study
Area
urban advisors ltd
Preliminary
Market
Overview
for
the
Georgetown
Study
Area
Introduction
The
purpose
of
this
document
is
to
provide
basic
market
information
in
beginning
the
process
of
updating
the
Georgetown
Downtown
Master
Plan.
It
offers
an
overview
of
population
change,
income
change,
housing
preferences,
and
opportunities
for
retail
and
employment
in
downtown,
for
use
during
early
workshops.
As
the
project
continues,
more
specific
information
will
be
added
to
produce
a
more
complete
market
study.
Fundamentals:
Demographic
Change
and
Housing
Population
and
household
change
is
show
in
the
following
table.
Georgetown,
TX
Population
and
Households
Census
2012
2017
Change
2012-‐17
Population
47,400
50,333
57,588
7,255
Households
18,830
19,914
23,000
3,086
Families
13,418
14,164
16,534
2,370
Non-‐Families
5,412
5,750
6,466
716
Average
Household
Size
2.38
2.40
2.39
-‐-‐-‐-‐
Owner
Occupied
Housing
Units
13,712
14,700
17,251
2,551
Renter
Occupied
Housing
Units
5,118
5,214
5,749
535
Median
Age
44.1
44.7
46.3
1.6
Household
Size
of
Population
Change
2.35
Source:
ESRI
BIS
and
Urban
Advisors
Projections
for
change
from
2012
to
2017
indicate
household
growth
of
15.5
percent
for
the
City
of
Georgetown.
Non-‐family
households
are
projected
to
grow
by
12.5
percent,
while
family
households
are
projected
to
grow
by
16.7
percent.
In
understanding
the
growth
it
is
noted
that
projections
indicate
a
slightly
smaller
household
size
than
currently
for
the
growth
alone,
while
the
average
for
all
households
remains
the
same.
One
implication
of
this
may
be
demand
for
smaller
units
than
in
earlier
decades.
Projections
of
population
by
age
indicate
that
the
largest
growth
among
cohorts
is
in
ages
55
and
older,
and
continuing
but
lower
growth
in
younger
families
with
children.
Preliminary
Market
Overview
for
the
Georgetown
Study
Area
2
urban advisors ltd
Georgetown,
TX
Population
By
Age
2012
2017
Change
%
Change
19
and
Under
11,856
13,297
1,441
12.2%
20-‐34
8,079
8,787
708
8.8%
35-‐44
5,380
5,948
568
10.6%
45-‐54
5,634
5,924
290
5.1%
55-‐64
6,676
7,779
1,103
16.5%
65
and
Older
12,707
15,850
3,143
24.7%
Source:
ESRI
BIS
Projections
of
households
by
income
show
that
all
of
the
projected
growth
is
in
households
with
incomes
of
$50,000
or
greater
with
the
majority
between
$50,000
and
$100,000
income
per
year.
Georgetown,
TX
Households
by
Income
Annual
Income
2012
2017
Change
%
of
Change
<$15,000
2,106
2,078
-‐28
-‐1.3%
$15,000
-‐
$24,999
1,390
1,058
-‐332
-‐23.9%
$25,000
-‐
$34,999
1,432
1,107
-‐325
-‐22.7%
$35,000
-‐
$49,999
2,630
2,409
-‐221
-‐8.4%
$50,000
-‐
$74,999
4,094
5,614
1,520
37.1%
$75,000
-‐
$99,999
2,675
3,708
1,033
38.6%
$100,000
-‐
$149,999
3,594
4,584
990
27.5%
$150,000
-‐
$199,999
1,144
1,393
249
21.8%
$200,000+
849
1,049
200
23.6%
Totals
21,926
25,017
3,086
14.1%
Source:
ESRI
BIS
and
Urban
Advisors
To
further
understand
this,
the
chart
below
outlines
change
in
household
income
by
age
cohort.
Preliminary
Market
Overview
for
the
Georgetown
Study
Area
3
urban
advisors
ltd
Source:
ESRI
BIS
and
Urban
Advisors
On
average
for
all
cohorts
combined,
38
percent
of
growth
is
in
households
between
$50,000
and
$74,999,
with
62
percent
of
households
in
income
brackets
above
that.
The
only
group
for
which
this
is
not
true
is
households
75
years
and
older
where
55
percent
of
households
are
below
$75,000.
The
fact
that
all
age
cohorts
with
income
below
$50,000
are
declining
may
indicate
a
need
for
housing
alternatives
such
as
workforce
housing
for
working
age
cohorts.
In
considering
income
change,
especially
in
relation
to
the
ability
to
support
future
retail
and
services,
it
is
useful
to
understand
whether
incomes
are
really
increasing
or
only
apparently
increasing.
The
following
table
shows
Median
and
average
household
income
change
between
2012
and
2017
and
then
the
inflation
adjusted
change.
The
table
is
based
upon
all
households
and
not
the
increment
of
growth
alone.
Georgetown,
TX
Household
Income
Change
2012-‐2017
Age
25-‐34
Age
35-‐44
Age
45-‐54
Age
55-‐64
Age
65-‐74
Age
75+
Median
HH
Income
Change
$6,077
$5,633
$6,373
$7,112
$8,043
$8,338
Average
HH
Income
Change
$7,326
$11,132
$11,790
$11,678
$9,391
$6,679
Median
Inflation
Adjusted
2%
$58,343
$74,851
$74,556
$73,748
$59,749
$46,122
Real
Difference
from
2012
-‐$1,590
-‐$4,203
-‐$3,424
-‐$2,579
$192
$2,277
Average
Income
Adjusted
2%
$69,986
$91,702
$94,935
$92,147
$77,093
$57,945
Real
Difference
from
2012
-‐$9,197
-‐$12,050
-‐$12,475
-‐$12,109
-‐$10,131
-‐$7,614
Source:
ESRI
BIS
and
Urban
Advisors
Annual
HH
Income
Preliminary
Market
Overview
for
the
Georgetown
Study
Area
4
urban advisors ltd
Adjusted
median
incomes
show
an
actual
loss
in
all
age
cohorts
younger
than
65
years
and
average
income
shows
a
loss
in
all
age
cohorts.
When
this
is
considered
relative
the
household
change
by
age
showing
that
new
households
are
almost
all
in
income
brackets
above
median,
it
is
clear
that
there
is
some
room
for
additional
retail
and
services,
but
that
demand
is
based
upon
growth
rather
than
rising
wages.
This
may
reveal
a
challenge
for
future
efforts
in
providing
housing.
In
the
2012
Georgetown
2020
Comprehensive
Plan
Housing
Element,
it
was
noted
that
the
income
to
afford
a
median
price
house
in
2010
was
between
$54,100
and
$80,192,
whereas
the
highest
household
median
income
by
2017
will
vary
between
approximately
$46,000
to
$75,000.
Thus,
many
more
than
half
of
future
households
may
not
be
able
to
afford
ownership
• Financing
infill
and
downtown
style
residential
can
still,
in
the
current
economy,
be
a
challenge
• Area
growth
is
strongest
in
middle
and
upper
income
households
• There
is
strong
demand
for
rental
units
as
well
as
owner
occupied
units
• Demand
for
rental
is
not
restricted
to
lower
income
households
Area
Housing
Preferences
Drive
Time
from
City
Center
Source:
ESRI
BIS
Tapestry
lifestyle
segmentation
data
indicates
the
preferences
for
housing
types
for
residents
within
a
20-‐minute
drive
time
from
the
study
area
who
would
consider
an
urban
lifestyle.
The
following
map
shows
a
three-‐minute
drive
time
in
red,
a
five-‐minute
drive
time
in
green
and
the
20-‐minute
drive
time
in
gray.
Preliminary
Market
Overview
for
the
Georgetown
Study
Area
5
urban
advisors
ltd
Within
the
20-‐minute
drive
time
households
are
projected
to
reach
approximately
1400,000
by
2017,
an
increase
of
slightly
more
than
20,000.
Approximately
70
percent
of
those
households
will
prefer
either
the
urban
outskirts
or
suburban
and
rural
lifestyles.
Tapestry
Lifestyle
segmentation
was
used
to
understand
the
housing
preferences
within
the
more
urban
lifestyle
categories.
Preferences
for
those
who
would
choose
a
more
urban
location
are
shown
in
the
following
table.
2017
Multi-‐Family
Townhomes
Lifestyle
Category
HH
Change
Owned
Rental
Owned
Rental
Metro
Renters
223
47
176
NeWest
Residents
12
2
10
Old
and
Newcomers
87
32
55
Young
and
Restless
1,188
166
1,022
Inner
City
Tenants
136
26
110
Enterprising
Professionals
2,850
769
940
513
627
Aspiring
Young
Families
1,262
364
394
242
263
Totals/Average
Pricing
5,758
1,406
2,707
755
890
Source:
ESRI
BIS
As
in
many
regions,
the
largest
preference
is
for
single-‐family
homes,
but
out
of
total
demand
there
is
still
significant
demand
for
townhomes
and
multi-‐family
both
rented
and
owned.
Based
upon
income
change
these
other
units
will
not
necessarily
be
low-‐
income
units,
but
will
need
to
be
a
mix
to
appeal
to
young
people
of
a
variety
of
incomes,
empty
nesters,
and
family
households.
Retail
Fundamentals
The
following
tables
enumerate
retail
demand
and
supply
by
drive
time
from
Courthouse
Square.
The
first
table
is
for
a
three-‐minute
drive
time
indicating
demand
and
supply
with
a
bicycling/walking
distance.
The
second
is
a
drive
time
of
five
minutes,
a
typical
distance
for
gauging
local
support
for
a
neighborhood
center
for
instance.
The
third
table
is
a
drive
time
of
20
minutes,
a
typical
drive
time
for
more
destination
oriented
offerings
such
a
restaurants,
entertainment,
and
in
particular,
vital
main
street
districts
that
allow
walking,
shopping,
eating
and
an
attractive
public
space.
In
the
Preliminary
Market
Overview
for
the
Georgetown
Study
Area
6
urban advisors ltd
tables,
the
numbers
in
green
are
those
where
demand
is
greater
than
supply,
meaning
that
there
may
be
an
opportunity
for
new
or
improved
business.
Main
Street
Business
Types
3
minute
Drive
Time
Demand
Supply
Gap/Surplus
Furniture
&
Home
Furnishings
Stores
$726,011
$2,175,043
-‐$1,449,031
Electronics
&
Appliance
Stores
$921,025
$118,256
$802,769
Bldg
Materials,
Garden
Equip.
&
Supply
$1,018,893
$9,607,044
-‐$8,588,151
Grocery
Stores
$5,295,113
$1,291,073
$4,004,040
Specialty
Food
Stores
$161,231
$430,756
-‐$269,524
Beer,
Wine
&
Liquor
Stores
$239,171
$1,112,265
-‐$873,094
Health
&
Personal
Care
Stores
$2,399,256
$1,131,845
$1,267,411
Clothing
Stores
$1,415,596
$1,193,859
$221,737
Shoe
Stores
$240,511
$151,261
$89,250
Jewelry,
Luggage
&
Leather
Goods
$285,385
$1,825,125
-‐$1,539,739
Sporting
Goods/Hobby/Musical
Instr
$618,580
$737,097
-‐$118,517
Book,
Periodical
&
Music
Stores
$204,311
$332,551
-‐$128,240
General
Merchandise
Stores
$5,689,198
$1,344,323
$4,344,875
Florists
$35,800
$75,495
-‐$39,695
Office
Supplies,
Stationery
&
Gift
Stores
$198,157
$143,325
$54,833
Used
Merchandise
Stores
$176,614
$2,253,051
-‐$2,076,437
Other
Miscellaneous
Store
Retailers
$451,700
$1,096,330
-‐$644,631
Full-‐Service
Restaurants
$1,381,023
$3,942,163
-‐$2,561,140
Limited-‐Service
Eating
Places
$1,804,186
$3,674,986
-‐$1,870,800
Special
Food
Services
$96,746
$2,849,395
-‐$2,752,649
Drinking
Places
-‐
Alcoholic
Beverages
$237,446
$149,307
$88,139
The
three-‐minute
drive
time
revels
only
a
few
underserved
categories.
But
grocery,
apparel
and
general
merchandise,
with
automobile
access
to
increase
the
market
penetration,
may
be
viable.
Preliminary
Market
Overview
for
the
Georgetown
Study
Area
7
urban
advisors
ltd
Main
Street
Business
Types
5
minute
Drive
Time
Demand
Supply
Gap/Surplus
Furniture
&
Home
Furnishings
Stores
$1,844,676
$5,746,052
-‐$3,901,377
Electronics
&
Appliance
Stores
$2,324,602
$1,429,471
$895,132
Bldg
Materials,
Garden
Equip.
&
Supply
$2,579,048
$14,900,958
-‐$12,321,909
Grocery
Stores
$13,099,932
$2,559,797
$10,540,136
Specialty
Food
Stores
$399,022
$1,277,721
-‐$878,699
Beer,
Wine
&
Liquor
Stores
$602,111
$1,362,674
-‐$760,564
Health
&
Personal
Care
Stores
$5,923,511
$5,416,024
$507,487
Clothing
Stores
$3,563,872
$2,057,775
$1,506,097
Shoe
Stores
$602,034
$151,261
$450,773
Jewelry,
Luggage
&
Leather
Goods
$732,970
$3,570,635
-‐$2,837,665
Sporting
Goods/Hobby/Musical
Instr
$1,568,614
$2,840,711
-‐$1,272,097
Book,
Periodical
&
Music
Stores
$507,473
$510,901
-‐$3,428
General
Merchandise
Stores
$14,188,483
$6,893,395
$7,295,087
Florists
$87,557
$83,660
$3,897
Office
Supplies,
Stationery
&
Gift
Stores
$497,020
$260,978
$236,043
Used
Merchandise
Stores
$440,540
$2,468,531
-‐$2,027,991
Other
Miscellaneous
Store
Retailers
$1,120,785
$1,533,516
-‐$412,731
Full-‐Service
Restaurants
$3,487,854
$6,076,108
-‐$2,588,254
Limited-‐Service
Eating
Places
$4,552,259
$9,158,655
-‐$4,606,396
Special
Food
Services
$245,222
$2,876,817
-‐$2,631,596
Drinking
Places
-‐
Alcoholic
Beverages
$606,811
$428,671
$178,140
The
five-‐minute
drive
time,
like
the
three
minute
drive,
shows
demand
for
grocery,
apparel
and
general
merchandise
stores.
Preliminary
Market
Overview
for
the
Georgetown
Study
Area
8
urban advisors ltd
Main
Street
Business
Types
20
minute
Drive
Time
Demand
Supply
Gap/Surplus
Furniture
&
Home
Furnishings
Stores
$92,458,146
$67,841,834
$24,616,312
Electronics
&
Appliance
Stores
$115,064,011
$107,097,999
$7,966,013
Bldg
Materials,
Garden
Equip.
&
Supply
$130,030,291
$143,843,884
-‐$13,813,593
Grocery
Stores
$626,554,068
$491,503,844
$135,050,224
Specialty
Food
Stores
$19,041,792
$12,213,969
$6,827,823
Beer,
Wine
&
Liquor
Stores
$29,700,036
$14,449,305
$15,250,731
Health
&
Personal
Care
Stores
$287,202,811
$325,730,381
-‐$38,527,571
Clothing
Stores
$175,483,364
$223,924,428
-‐$48,441,064
Shoe
Stores
$29,190,638
$52,167,170
-‐$22,976,532
Jewelry,
Luggage
&
Leather
Goods
Stores
$37,882,835
$43,417,518
-‐$5,534,683
Sporting
Goods/Hobby/Musical
Instr
$77,255,841
$66,079,055
$11,176,786
Book,
Periodical
&
Music
Stores
$24,558,046
$23,849,283
$708,763
General
Merchandise
Stores
$687,658,091
$570,164,819
$117,493,272
Florists
$4,245,592
$1,415,888
$2,829,704
Office
Supplies,
Stationery
&
Gift
Stores
$24,512,320
$19,328,986
$5,183,334
Used
Merchandise
Stores
$21,478,244
$10,962,645
$10,515,598
Other
Miscellaneous
Store
Retailers
$54,553,853
$48,187,257
$6,366,596
Full-‐Service
Restaurants
$171,743,314
$95,529,939
$76,213,375
Limited-‐Service
Eating
Places
$223,852,802
$145,959,738
$77,893,064
Special
Food
Services
$12,109,856
$7,383,350
$4,726,506
Drinking
Places
-‐
Alcoholic
Beverages
$30,700,245
$9,736,180
$20,964,065
The
20-‐minute
drive
time
shows
support
in
numerous
categories.
At
this
extended
drive
time,
however,
capture
by
any
business
in
downtown
Georgetown
will
be
far
less
than
for
the
three-‐minute
an
five-‐minute
drive
times.
To
illustrate
this,
the
following
table
was
prepared
based
on
2017
population
and
2017
household
incomes
adjusted
for
inflation.
It
shows
an
estimate
of
uncaptured
demand
produced
by
population
growth
with
capture
rates
for
each
of
the
drive
times.
Preliminary
Market
Overview
for
the
Georgetown
Study
Area
9
urban
advisors
ltd
Potential
Demand
Change
2012-‐2017
3
Minute
3
to5
Minute
5
to
20
Minute
Georgetown
Downtown
Capture
60%
Capture
30%
Capture
2.5%
Furniture
&
Home
Furnishings
Stores
-‐
-‐
$1,215,140
Electronics
&
Appliance
Stores
$614,961
-‐$182,020
$1,742,497
Bldg
Materials,
Garden
Equip.
&
Supply
-‐
-‐
$498,106
Grocery
Stores
$3,168,780
$919,715
$9,689,483
Specialty
Food
Stores
-‐
-‐
$294,211
Beer,
Wine
&
Liquor
Stores
-‐
-‐
$573,918
Health
&
Personal
Care
Stores
$1,107,688
-‐$536,519
$2,543,968
Clothing
Stores
$337,920
$365,953
-‐
Shoe
Stores
$88,359
$89,450
-‐
Jewelry,
Luggage
&
Leather
Goods
-‐
-‐
$107,361
Sporting
Goods/Hobby/Musical
Instr
$18,416
-‐
$798,958
Book,
Periodical
&
Music
Stores
-‐
$34,861
$177,016
General
Merchandise
Stores
$3,430,317
-‐$238,352
$7,397,847
Florists
-‐
$7,361
$98,282
Office
Supplies,
Stationery
&
Gifts
$61,579
$44,384
$288,583
Used
Merchandise
Stores
-‐
-‐
$402,209
Other
Miscellaneous
Store
Retailers
-‐
-‐
$513,030
Full-‐Service
Restaurants
-‐
-‐
$3,019,353
Limited-‐Service
Eating
Places
-‐
-‐
$3,399,354
Special
Food
Services
-‐
-‐
$196,714
Drinking
Places
-‐
Alcoholic
Beverages
$87,249
$9,108
$723,240
The
estimate
of
support
for
retail
based
upon
household
change
shows
that
with
planning
for
increased
residential
use,
there
could
be
support
for
placement
of
some
amount
of
new
retail
in
the
area.
The
highlights
for
retail
are
that:
• If
a
core
retail
area
can
be
planned
in
combination
with
residential
nearby
there
may
be
demand
for
around
90,000
square
feet
of
new
retail.
• There
may
be
support
for
a
small
to
medium
size
grocer
• There
appears
to
be
support
for
restaurants
• There
is
demand
for
apparel
and
related
services
• There
is
demand
for
household
furnishings
and
equipment
• There
is
demand
for
categories
that
are
typically
combined,
such
as
drugs,
photo,
and
personal
care
products.
•
There
is
demand
for
electronics,
television,
and
computers,
but
the
categories
may
need
to
be
combined
to
support
a
shop
in
the
face
of
competition
from
large
regional
retailers
making
this
sector
difficult
locally.
Preliminary
Market
Overview
for
the
Georgetown
Study
Area
10
urban advisors ltd
• As
with
housing,
a
barrier
to
new
business
despite
market
trends
is
the
current
lack
of
financing.
New
businesses
are
risky
and
are
currently
finding
difficulty
in
financing
and
equity
requirements
to
allay
risk.
Employment
in
Georgetown
Georgetown
has
a
vital
economy
with
over
20,000
jobs
within
the
city
according
to
Census
data.
The
question
is
whether
more
of
those
jobs
can
be
attracted
to
downtown
to
increase
its
vitality
during
days
of
employment.
The
following
graphic
shows
inflow
and
outflow
of
employment
for
the
city.
Inflow/Outflow Report
Inflow/Outflow Job Counts
(Primary Jobs)
2011
Count Share
Employed in the Selection
Area 19,061 100.0%
Employed in the Selection
Area but Living Outside 15,046 78.9%
Employed and Living in the
Selection Area 4,015 21.1%
Living in the Selection Area 14,705 100.0%
Living in the Selection Area
but Employed Outside 10,690 72.7%
Living and Employed in the
Selection Area 4,015 27.3%
Source: U.S. Census Bureau, OnTheMap Application and LEHD Origin-Destination Employment
Statistics (Beginning of Quarter Employment, 2nd Quarter of 2002-2011).
Notes:
1. Race, Ethnicity, Educational Attainment, and Sex statistics are beta release results and are not
available before 2009.
2. Educational Attainment is only produced for workers aged 30 and over.
3. Firm Age and Firm Size statistics are beta release results and are not available before 2011.
Source:
Local
Employment
Dynamics,
US
Census
This
graphic
illustrates
that
of
the
total
jobs
in
Georgetown,
4,015
are
held
by
those
who
reside
in
the
city.,
and
over
15,000
people
commute
into
the
city
to
go
to
local
jobs.
It
also
shows
that
10,690
residents
leave
the
city
every
day
to
commute
to
jobs
elsewhere.
Preliminary
Market
Overview
for
the
Georgetown
Study
Area
11
urban
advisors
ltd
Citywide
Inflow
Outflow
Outside
Jobs
Internal
Jobs
Internal
Jobs
Characteristics
of
Residents
%
Non-‐residents
%
of
Residents
%
Workers
Aged
29
or
younger
2,078
19.4%
3,387
22.5%
756
18.8%
Workers
Aged
30
to
54
6,335
59.3%
8,808
58.5%
2,233
55.6%
Workers
Aged
55
or
older
2,277
21.3%
2,851
18.9%
1,026
25.6%
Earning
$1,250/month
or
less
1,783
16.7%
2,882
19.2%
922
23.0%
Earning
$1,251
to
$3,333.month
3,490
32.6%
6,246
41.5%
1,567
39.0%
Earning
More
than
$3,333/month
5,417
50.7%
5,918
39.3%
1,526
38.0%
Workers
in
Goods
Producing
1,790
16.7%
1,792
11.9%
546
13.6%
Workers
in
Trade,
Transport,
Utils
2,262
21.2%
3,070
20.4%
418
10.4%
Workers
in
All
Other
Services
6,638
62.1%
10,184
67.7%
3,051
76.0%
Source:
Local
Employment
Dynamics,
US
Census
The
next
graphic
shows
inflow
and
outflow
for
downtown
Georgetown.
Source:
Local
Employment
Dynamics,
US
Census
Inflow/Outflow Report
Inflow/Outflow Job Counts (All
Jobs)
2011
Count Share
Employed in the Selection
Area 2,202 100.0%
Employed in the Selection
Area but Living Outside 2,170 98.5%
Employed and Living in the
Selection Area 32 1.5%
Living in the Selection Area 624 100.0%
Living in the Selection Area
but Employed Outside 592 94.9%
Living and Employed in the
Selection Area 32 5.1%
Source: U.S. Census Bureau, OnTheMap Application and LEHD Origin-Destination Employment
Statistics (Beginning of Quarter Employment, 2nd Quarter of 2002-2011).
Notes:
1. Race, Ethnicity, Educational Attainment, and Sex statistics are beta release results and are not
available before 2009.
2. Educational Attainment is only produced for workers aged 30 and over.
3. Firm Age and Firm Size statistics are beta release results and are not available before 2011.
Preliminary
Market
Overview
for
the
Georgetown
Study
Area
12
urban advisors ltd
This
graphic
shows
that
almost
all
jobs
in
the
downtown
are
filled
by
those
from
outside
the
downtown,
while
almost
all
downtown
area
residents
commute
to
jobs
elsewhere.
Downtown
Inflow
Outflow
Outside
Jobs
Internal
Jobs
Internal
Jobs
Characteristics
of
Residents
%
Non-‐residents
%
of
Residents
%
Workers
Aged
29
or
younger
167
28.2%
492
22.7%
9
28.1%
Workers
Aged
30
to
54
330
55.7%
1,253
57.7%
14
43.8%
Workers
Aged
55
or
older
95
16.0%
425
19.6%
9
28.1%
Earning
$1,250/month
or
less
156
26.4%
510
23.5%
6
18.8%
Earning
$1,251
to
$3,333/month
248
41.9%
767
35.3%
12
37.5%
Earning
More
than
$3,333/month
188
31.8%
893
41.2%
14
43.8%
Workers
in
Goods
Producing
97
16.4%
67
3.1%
0
0.0%
Workers
in
Trade,
Transport,
Utils
93
15.7%
126
5.8%
1
3.1%
Workers
in
All
Other
Services
402
67.9%
1,977
91.1%
31
96.9%
Source:
Local
Employment
Dynamics,
US
Census
The
two
tables
showing
job
characteristics
that
accompany
each
graphic,
reveal
some
interesting
detail.
The
citywide
table
shows
that
residents
who
leave
for
outside
jobs
are
better
paid—slightly
over
50
percent
make
the
highest
income
category
as
opposed
to
38
percent
of
residents
who
work
within
the
city.
Downtown
shows
the
opposite
trend:
more
downtown
residents
who
go
outside
the
area
are
in
the
two
lower
income
categories
than
are
both
residents
and
non-‐residents
who
work
downtown.
Downtown
employment
is
91
percent
services,
with
a
large
proportion
of
jobs
offering
workforce
wages
that
would
make
it
difficult
to
afford
the
median
house
price
noted
in
the
Georgetown
2030
Comprehensive
Plan
Housing
Element.
The
next
table
compares
downtown
service
employment
with
service
employment
citywide.
Preliminary
Market
Overview
for
the
Georgetown
Study
Area
13
urban
advisors
ltd
Service
Employment
in
Georgetown
Downtown
Citywide
Outside
of
Downtown
Information
117
191
74
Finance
and
Insurance
75
495
420
Real
Estate
and
Rental
and
Leasing
53
230
177
Professional,
Scientific,
and
Technical
Services
343
783
440
Management
of
Companies
and
Enterprises
-‐
106
106
Administration
&
Support,
Waste
Mgmt.,
Remediation
80
277
197
Educational
Services
108
3,487
3,379
Health
Care
and
Social
Assistance
116
3,363
3,247
Arts,
Entertainment,
and
Recreation
10
401
391
Accommodation
and
Food
Services
317
1,783
1,466
Other
Services
(excluding
Public
Administration)
88
638
550
Public
Administration
701
2,337
1,636
Totals
2,008
14,091
12,083
Source:
Local
Employment
Dynamics,
US
Census
The
table
of
services
is
suggestive
in
that
there
are
items
that
could
or
should
be
downtown
but
are
not
well
represented
there.
These
include
Arts
and
Entertainment,
Accommodation
and
Food
Services,
and
Health
Care
and
Social
Assistance.
In
addition,
there
is
significant
FIRE
office
employment
that
it
may
be
possible
to
support
downtown.
As
the
project
progresses,
projections
of
future
employment
will
be
analyzed
to
estimate
the
potential
space
that
might
be
devoted
to
an
intensification
of
downtown
employment.
Conclusions
• Underlying
fundamentals
for
housing
indicate
demand
over
a
five-‐year
period
for
more
urban
multi-‐family
and
townhome
units
as
well
as
traditional
single
family
homes.
• Underlying
demand
for
retail
over
the
next
five
years
exists,
but
capturing
may
require
increasing
local
population
and
carefully
clustering
retail
uses
in
a
walkable
framework
for
maximum
utility.
• Employment
downtown
needs
to
be
investigated
further.
Categories
that
should
be
downtown
but
have
a
low
share
in
downtown
now
include
Arts
and
Entertainment,
Accommodation
and
Food
Services,
and
Health
Care
and
Social
Assistance
Preliminary
Market
Overview
for
the
Georgetown
Study
Area
14
urban advisors ltd
• Intensification
of
land
use
in
and
surrounding
downtown,
if
accomplished
appropriately,
particularly
of
residential
use,
will
help
to
increase
the
vitality
and
the
capture
of
retail
and
services
spending
and
thus
eventually
of
employment.