Challenges of an organizational approach to applied downtown market analysis

Downtowns are responding to decades of decline through a variety of revitalization strategies. The progression and success of downtown renewal efforts are largely rooted in asset-based, mixed-use approaches to revitalization that mirror the evolving economic functions of downtowns. While contemporary economic revitalization strategies provide opportunities, their complexity also creates potential challenges for community organizations tasked with determining the highest and best uses for downtown properties. Accordingly, this article examines how the evolution of downtown economic revitalization strategies has influenced the capacity and expertise required by organizations engaged in the endeavor of downtown market analysis. In particular, we identify applied market analysis challenges arising from organizational deficiencies in expertise, credibility, scope, and technology adoption and propose capacity building opportunities for overcoming these deficits.