Findings of the “Mt. Auburn Retail Market Study” will be presented to the public from 6 – 8 p.m., Tuesday, Oct. 20, at The Christ Hospital Auditorium, 2139 Auburn Ave. This study will provide the Mt. Auburn community with the data needed to make informed decisions to drive economic growth in the neighborhood.
In conducting the Mt. Auburn Retail Market Study, the Economics Center compared Mt. Auburn to similar neighborhoods that have major medical centers within their boundaries. The comparison cities were Atlanta; Chicago; New Haven, Conn.; St. Paul, Minn.; and Washington, DC.
This approach accounts for both the lifestyle-based consumer preferences of area residents and the presence of the hospital as a major employer, traffic generator and source of retail demand.
The business types with the greatest potential for success are eating places and food services; gift, book, and music stores; as well as clothing and related merchandise stores.
“Working collaboratively with community leaders and having active involvement and support from The Christ Hospital made this a great experience for all participants, and the result is a very solid analysis that can be used to guide business development efforts,” said Jeff Rexhausen, associate director of research at the Economics Center for Education & Research at the University of Cincinnati. “We have developed a state-of-the-art approach, grounded in industry best practices, in order to identify realistic opportunities for neighborhood retail expansion.”
The market data from the Mt. Auburn analysis have identified substantial potential for new retail businesses in the Mt. Auburn neighborhood, the hilltop gateway between downtown and uptown Cincinnati.
“The study was based on practical, well-grounded methodology,” said Rexhausen. “It should serve their business district well.”
In addition to the study rollout, a panel will be available Tuesday night to address issues about the market potential, financing and other considerations for creating and sustaining a viable business district within Mt. Auburn. Scheduled panelists include
- Roxanne Qualls, Cincinnati City Council member
- Jeannie Golliher, president and CEO, Cincinnati Development Fund
- Michael Cervay, director, City of Cincinnati Community Development Dept.
- John Rickert, Ricor Development and local business recruitment strategist
- Holly Dorna, president of the Mt. Auburn Chamber of Commerce
- Freeman McNeal, president of the Mt. Auburn Community Council
What: Mt. Auburn Retail Market Study
Where: The Christ Hospital Auditorium, 2139 Auburn Ave.
When: Tuesday, Oct. 20, 5:30 – 8 p.m.
About the UC Institute for Community Partnerships
The University of Cincinnati established the Institute for Community Partnerships in 1990 in the College of Education with funding from the Ohio Urban University Program to support faculty applied research in solving urban problems ranging from physical to social issues.
About the Economics Center for Education and Research
The Economics Center for Education & Research is a not-for-profit organization affiliated with the University of Cincinnati. Its vision is to build a vibrant community by inspiring students to appreciate and use their economic freedom and opportunities. Its work in the community is carried out through educational outreach in local schools that enhances financial literacy and builds an entrepreneurial spirit in students.
The Mt. Auburn Retail Market Study was conducted by the University of Cincinnati Economics Center for Education and Research in collaboration with, and funded by, the UC Institute for Community Partnerships, with additional support from The Christ Hospital and the Economics Center for Education and Research at the University of Cincinnati.