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REAL ESTATE

DEMOGRAPHICS

 

Trade Area

Two trade areas are defined for Downtown Bay City. It has a unique trade area due to
the uniqueness of several Downtown Bay City businesses with capabilities to attract
people from I-75.

Approximately 50% of Downtown sales come from primary trade area that is slightly
smaller than the trade area of the Bay City Mall, and 80% of the retail sales comes from secondary trade area overlapping the trade areas of nearby competing shopping areas.
The secondary trade area is elongated by the ease of travel along I-75 and extends south
to Flint, north to Houghton Lake, east to cover most of the Thumb area and west to just east
of Mount Pleasant.

The secondary trade area has a relatively stable population based of over 650,000 people
as shown on the following table.

Trade Area Demographics — Downtown Bay City

1980
1990
1993
1998
% Change 80-90
% Change 90-93
% Change 93-98
Primary Trade
Population
115,545
107,228
106,140
101,213
-7.1%
-0.9%
-4.64%
Persons/Household
2.87
2.62
2.54
2.43
-8.71%
-3.05%
-4.33%
Secondary Trade
Population
673,510
653,146
656,540
642,625
-2.9%
+0.5%
-2.12%
Households
226,700
240,805
248,715
254,527
+6.2%
+3.3%
+2.34%
Persons/Household
2.97
2.71
2.64
2.52
-8.75%
-2.58%
-4.55%

Source: Urban Decision Systems, 1993

Households in the secondary trade area have an aggregate 1993 income of approximately
$9 billion, while households in the primary trade area possess an aggregate income of slightly over $1.52 billion. Both primary and secondary trade areas have similar economic distribution. The median household incomes for the two trade areas are $29,656 and $29,252 respectively.

Source: Downtown Development and Urban Design Plan, published 1993 McKenna Associates with Sasaki Associates, Gibbs Planning Group Inc. and Christopher Wzacny & Associates.