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100,000 s.f. of retail space still could be approved and constructed under the Downtown <br />Precise Plan. <br /> <br /> <br />ANALYSIS <br /> <br />As buildout of the office and residential portions of the Downtown Precise Plan nears, <br />the City issued a Request for Qualifications (RFQ) seeking a consultant who could <br />provide insight into the next steps for the Downtown area. The August 28 study session <br />will focus on: <br />· Current retail and hotel trends in the region and beyond, and how these trends <br />apply in Downtown Redwood City. <br />· Demographic and physical space characteristics sought by retail and hotel <br />industries and the extent to which Redwood City meets these expectations. <br />· The financial climate for retail and hotel expansion in general and in Redwood <br />City. <br />· Strategies the City of Redwood City could adopt to encourage more retail and <br />hotel development downtown. <br /> <br />After review of the responses to the RFQ, staff chose the team of MJB Consulting and <br />Greensfelder Commercial Real Estate LLC to present a study session on the retail and <br />hotel opportunities downtown. <br /> <br />MJB Consulting (MJB) is an award-winning retail planning and real estate consultancy <br />based in Berkeley, CA and New York, NY. They have been retained by a wide variety of <br />public, quasi-public/non-profit and private sector clients across the U.S., Canada and <br />the U.K. to undertake market analyses, devise tenanting strategies, spearhead <br />implementation efforts and conduct educational workshops. MJB’s Principal, Michael <br />Berne, is one of the nation’s leading experts on Downtown and “Main Street” business <br />districts. He recently served on the International Downtown Association’s (IDA) Board of <br />Directors, including a stint as Vice Chair of its Executive Committee. <br /> <br />Bay Area-based Greensfelder Commercial Real Estate LLC provides independent <br />advisory and strategic planning services to communities, financial institutions and <br />investors. Assignments focus on land use economics, market strategy and project <br />implementation. The firm also develops for its account as well as other property owners <br />and partners. As a developer, consultant, and an experienced corporate real estate <br />executive, David Greensfelder, the company’s Principal, has played a leading role on <br />more than 325 projects spanning 6.3 million square feet, with an aggregate acquisition <br />and construction value exceeding $700 million and a finished market value estimated at <br />well over $1.25 billion. <br /> <br />9.A - Page 2