Bayview Heights Erie PA Regional Market Overview Van Amburg Group

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Erie County, PA Erie County, PA

Regional Market OverviewRegional Market Overview

BayviewBayview Heights Development OpportunitiesHeights Development Opportunities

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http://VanAmburgGroup.com

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Regional Market OverviewRegional Market OverviewErie County, PAErie County, PA

• Erie County, PA is centered in the “Foundry region”*

– Manufacturing = 15% of employment (GE, Lord, Zurn, etc.), defining a target project rental market

– Stable population & workforce

– Lower wages limit family asset creation, increasing the rental market

– Strong desire for green buffer zones, architectural quality, & the opportunity for well-designed developments

• There is strong community appreciation & loyalty

– Erie: 4th largest city in Pennsylvania with a stable economy including: higher education, industrial, medical, tourism, service, retail and technology

– 84% of residents want to remain in Erie County for life

– Large numbers of expatriates are beginning to return to:

• Raise families

• Retire, many early

• Care for ailing elderly parents

* Map developed from work of Joel Garreau in 9 Nations of North America

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Northwest PennsylvaniaNorthwest PennsylvaniaA State Within ItselfA State Within Itself

• Pennsylvania acts as four separate states

– North & south are divided by I-80

– Each regional economy is fairly independent

– Erie has historically been the “capital” of NW PA,

attracting residents, job seekers, and shoppers

from the surrounding counties

– Erie & NW PA attract outdoor enthusiasts

• Lack of metropolitan traffic density adds

to the region’s charm

– NW PA remain a lovely place to live and visit

– Urban traffic congestion in Erie is rare

– Everything is only 10-20 minutes away

• Regional geographic, political and

economic isolation have slowed Erie’s

build-out, leaving development

opportunities– It is bounded by lake & borders (county, state

and international) to the west and east/north

– Erie County’s 40 mile shoreline provides Pennsylvania’s only access to the Great Lakes

– Presque Isle State Park provides 7 miles of free beaches & a complete eco-system

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Local & Visitor TrafficLocal & Visitor TrafficRegional Retail Magnet & VisitationRegional Retail Magnet & Visitation

• The main streets of Erie County are Interstate 90 & Interstate 79

– They feed local & regional traffic, interstate commerce & Canadian visitation

– * I-79 provides direct access to the development property

• The center of the region is I-90 & Peach St. (PA Route 19)

– It provides the only retail magnet within 60+ miles

– 50% to 70% of residents from surrounding communities shop there bi-weekly

– Millcreek Mall is the 4th largest in the U.S.

• Many from the Pittsburgh area return to Lake Erie, Edinboro & other small lakes for their annual vacations

– They provide the opportunity to market to for vacation & retirement

• Erie is a highly desirable retirement community

– Many of the 200,000+ former residents intend to return to retire

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Regional Resident AttractionsRegional Resident AttractionsRegional Assets & AmenitiesRegional Assets & Amenities

• Retail, golf, nature trails, and other amenities match your target customer groups’ recreational and shopping patterns & desires

– * All Erie County amenities are within a 5-20 minute drive of the development property

– * Chautauqua Institution’s world decision maker residents & world-class programs are within 35 minutes

– * 6 full service fitness centers within 10-15 minutes

– * Nearest hospital within 5 minutes, 3 within 15 minutes

– * Nearest emergency care center within 5 minutes

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Canadian Tourist TrafficCanadian Tourist TrafficAlong Interstate CorridorAlong Interstate Corridor

• The development property is ideally

located for visibility, awareness and

inexpensive communications with

future customers from Canada

– A high % of Ontario visitors to PA &

southeastern states drive through Erie

County to reach their destination• 1/2 of all Canadian travel of one+ nights was

generated from the province of Ontario,

home to one-third of Canada's population

• 9.1 million people from Ontario visited the

U.S. in 1998 with New York, Florida,

Michigan, and Pennsylvania receiving half of

them.

• 97% of Ontario travelers to PA drive rather

than fly

• Canadians spend an average of 2.4 nights in

the U.S.

– Many Canadians shop in Erie County• No clothing taxes or GST (goods & services

tax) in PA

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Niagara Falls TrafficNiagara Falls TrafficAlong Interstate CorridorAlong Interstate Corridor

• The development property is ideally

located for visibility, awareness and

inexpensive communications with future

customers from the larger region

– Niagara Falls receives 20+ million visitors

every year• Niagara Parks, Canada visitors spend $2.5 billion

annually

• About 10 million come from the U.S., & about 5

million drive through Erie County to get there

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Who We AreWho We Are

North American Marketing & Research Consultancy Since 1977

Working since 2003 with sister corporation MutualGravity, Inc., a web-based communications software development firm

We build brilliant real-time communication solutions

for organizations committed to a better world

•$4 billion in new business for our 3000 clients in 165 industries over 30+ years

•Research & feasibility studies, customer satisfaction, marketing, loyalty programs, websites, eLetters,

marketing communications & campaigns

•Helping your organization transition to the new economy

Our work has been featured by America’s media

www.VanAmburgGroup.com

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Bayview Heights Erie PA Regional Market Overview Van Amburg Group

Real Estate

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