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Retail Mixed Use Market Study Update 1 January 6, 2010 friendlier to single -use developers, who can partner with outside firms to bring in expertise on both the residential and retail components of the project. To best capture commuter spending, transit - oriented retail should be located between park and ride facilities and the transit station. In the case of mixed -use development near transit, the retail component of the project should be oriented to draw commuters through shops and restaurants on their way to the train. If possible, the retail center should be located between the transit station and the commuter parking lot, with a safe and clearly marked path to guide commuters and shoppers from parking to the retail and transit station. Good design is essential to the success of a mixed -use retail and residential development. In order to create a retail environment accessible to both residents and outside shoppers, mixed - use retail must rely on strong design principles, such as the delineation of retail stores, highly visible signage, two -sided retail, and the use of landscaping and street trees to create a pedestrian - friendly retail environment both in the parking lot and along the sidewalks. Access and visibility are key components of retail success, and retail centers should be oriented to maximize visibility to nearby streets, intersections and transit stations. RECOMMENDED RETAIL FORMAT AND MANAGEMENT Incorporating findings from retailer interviews, case studies and the supply and demand analysis, this section illustrates the mixed -use retail format most likely to succeed in Hacienda. As noted, factors such as location and physical design are critically important to the success of mixed -use projects. These findings are summarized and incorporated in the Summary of Findings and Recommendations section on p61. Most retail in Pleasanton and Dublin consists of suburban -style neighborhood strip centers with a very local orientation, and community centers with larger stores that serve a regional market. Neighborhood strip centers range from 30,000 square feet (without an anchor) to 100,000 square feet when anchored by a grocery or drug store. Community centers are larger - up to 250,000 square feet - and have a greater trade area than neighborhood centers. Some community centers have grocery stores, while many focus on other retail formats, including big box stores selling discount goods in the categories of sports equipment, books, home improvement, apparel, or electronics. Grocery stores, drug stores and big box discounters are known as "formula" retailers because they adhere to strict location and design formulas, which often dictate the layout and tenanting of large- format retail centers. These centers have historically been successful because they follow the anchor store's tried- and -true formula for success. As the public's awareness of climate change and the impact of auto - oriented development continues to grow, however, so has interest in sustainable development, such as transit - oriented and mixed -use practices. As consumers begin to seek out more pedestrian and transit - oriented retail options, traditional retailers are forced to rethink their historic formulas for success. Craig Semmelmeyer of Main Street Property Services, reports that the recession is actually expediting the evolution of new forms of retail development. The turnover caused by the economic downturn has created an opportunity for new retail formats which better reflect a more sustainable, compact shopping experience. The opportunity for a mixed -use, transit - oriented development in Hacienda is well - suited to a new type of retail format: the 45,000 — 65,000 square foot "Urban Village," which features a series of small retail spaces anchored by a small grocer or pharmacy. 59