Market Potential for Retail Development in the Burnet Avenue Business District
This market analysis identified substantial potential for new retail businesses in the Burnet
Avenue Business District, which is located in an area that is experiencing growth in both
employment and residential development.
Market Area Characteristics
Approximately 11,000 people live within a two-minute drive time of the Burnet Avenue
Business District. These people live in slightly more than 4,500 households, with a 2007
average household income of $35,755.
More than 12,000 people work within the area, including about 10,000 at Children’s
Hospital. Almost all of these employees begin and/or end their work shifts during normal
business hours for any potential establishment in the business district.
The store types with the greatest potential for development in the business district are:
- Supermarkets and Related Stores. Specialty foods, beer and wine and liquor, and
florists are all potential departments within a grocery store or separate stores within
the business district.
- Miscellaneous Store Retailers. This includes stores selling books, periodicals, music,
electronics, tobacco, stationery and gifts, as well as used merchandise stores and
- Eating Places. Potential exists for everything from fast-food drive-thrus to limitedservice
eating places to full-service restaurants.
Making Use of the Findings
The body of this report contains additional information that is intended to be used by
community leaders, developers, and businesses with an interest in locating in the
- Other businesses types, such as general merchandise and clothing stores, fitness and amusement activities, hair & nail salons, laundry, banking, and insurance, are seen as secondary targets.
- Information on space requirements in included to assist developers and community
leaders in the design of new commercial structures.
- Detailed information on resident lifestyles can inform prospective businesses.
- Business descriptions should help community leaders to target their marketing.
In addition to consumer demand, business district revitalization requires safety and security
for owners and their customers, and the overall appearance and maintenance of both the
businesses and the surrounding area.