Shopping Showplace:
Numbers Add Up for Midtown’s Peachtree Vision

Explosive residential growth, coupled with a huge influx of workday consumers, students and visitors, presents a once-in-a-lifetime opportunity to transform Midtown’s 14-block stretch of Peachtree Street into a premier shopping destination.

A study by Buxton, an industry leader in customer analytics and retail site selection technology, supports the concept for an exciting, new urban shopping experience on Midtown’s Peachtree Corridor. Commissioned by Midtown Alliance and funded in part by AT&T (Formerly BellSouth), the research indicates that many factors, including a 300+ percent increase in population over 10 years and a typical psychographic/demographic profile of a young, educated and affluent consumer, point to success.

“The growth that is taking place provides a unique opportunity to fashion Midtown into a showplace for mixing exceptional ground-floor retail with high-end residential growth,” said Buxton’s Chip Rodgers, who managed the study

Residential statistics alone are exciting, showing growth from 17,400 in 2000 to 52,000 by the year 2010 within walking distance of Midtown’s Peachtree Corridor. “A huge influx of workday consumers also enters the trade area. There are opportunities to attract retailers who are seeking both daytime workers and fulltime residents as their customers,” Rodgers said. “Midtown has a great retail story to tell.”

Supporting the unfolding story are impressive residential numbers:

All are indicators of a young, affluent, educated, cosmopolitan consumer base ready to experience new shopping options. But as the study points out, residential growth is only part of Midtown’s foundation for success:

“Buxton has analyzed the demographics and the psychographics, and the market potential matches our vision for a dynamic retail district,” noted Shannon Powell, Vice President of Planning and Development, Midtown Alliance. Also in Midtown’s favor are its urban authenticity and emergence as a true walking district.

The study supports our position that the time is now to embrace a big, bold vision for Peachtree, Powell said. In addition to a robust consumer base, Midtown also has laid a strong foundation with public safety, maintenance and streetscape programs that provide the kind of amenities that are offered in shopping malls. “Midtown’s Peachtree is an exciting street, rich in history and with a distinct cachet. The assets are in place to create the retail vision.”