Preliminary Economic Impact Report for Sunset Triangle

Parklet Studies released a Preliminary Report for the Economic Impact Study at Sunset Triangle Plaza. This study involved interviews with business operators at and around the Sunset Triangle Plaza for four successive quarters after the Plaza opened.  Here are some major preliminary findings from the study:

“In general, the study found positive perceptions of the Plaza.  Throughout the initial six-month period of monitoring and surveys, over 80% of surveyed merchants confirmed that they would ‘recommend a Plaza project to other neighborhoods [or business districts].’”

 Perceived Impacts:  “A majority of surveyed businesses reported perceived increases in business performance after Plaza installation, at both the 1-month and 6-month survey dates.  A majority of participants also reported a higher volume of sales from increased ‘foot traffic’ (or ‘walk-ins’).”

Business Confidence: “In general, responses indicated high levels of business confidence.  Confidence was measured by asking merchants about anticipated changes to revenue, debt, profit, number of employees, and number of customers for the year subsequent to Plaza installation.”

“The majority of businesses within the two-block catchment area anticipate an increase of the size of their customer base; an increase in revenue; and an increase in profits.  At the same time, most merchants anticipate either no change or a decrease in their debt.  This indicates the optimism of businesses within the two-block catchment area surrounding the Plaza.”

The complete preliminary findings report can be downloaded here.

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