Economic Development Strategy
Middlebury Downtown Master Plan
The Town of Middlebury’s international reputation as a desirable place to life and play, historic charm, community spirit, and cultural institutions attract new residents from all over the country. The Downtown Master Plan established the community’s desire for new development and determined feasibility through expert analysis to provide the playbook for enhancing what people love about Middlebury.
Client
Town of Middlebury, Planning & Zoning
Service
Economic Development Strategy
Downtown Master Planning
Location
Middlebury, Vermont
As a partner to Town Planning Planning & Urban Design Collaborative, JS&A projected demographic, housing, and economic conditions for the next twenty years to inform the Downtown Master Plan. JS&A’s expertise in real estate and development feasibility provided the Town of Middlebury with a feasible yet realistic plan for the coming years.
Project Scope
Demographic Projections
Population Projections
Employment Projections
Land Use Analysis
Real Estate Market Analysis
Housing Supply and Projections
Development Feasibility
Economic Analysis
Stakeholder Engagement
Working with the project team, JS&A analyzed the town’s land uses and their relation to real estate market conditions. Analysis included residential land uses (product, ownership, home values, sales and rent trends, locations, supply and demand, and affordability), commercial land uses (office and retail occupancy, lease rates and trends, conditions, leakage, and regional context), and hospitality land uses (existing supply and demand).
Results
The Middlebury Downtown Master Plan launched successfully at the end of 2020. The Town and its Planning and Zoning Department has been working towards redevelopment opportunities at key areas of the Downtown targeted for optimal locations for new development and community space.
Downtown Middlebury’s Economy
Retail & Restaurants
Downtown retail and food businesses rely on Addison County patrons for over 50% of their revenue, especially during the off-season. Downtown establishments have an opportunity to embrace trends such as experiential retail, online shopping and marketing, and delivery. Retail businesses that provide unique items or specialized niches, and those providing experience or special service reported growth in recent years and demonstrate competitive advantage over online retailers.
Tourism & Hospitality
Middlebury’s wealth of landscape, food, and arts assets attract many visitors, supporting the its tourism economy. Hiking and kayaking opportunities within easy reach of Downtown strengthen outdoor recreation as an important driver for tourism. Popular cultural events, such as the week-long Festival On the Green and the Middlebury New Filmmakers’ Festival, bring new visitors to Middlebury each year.
Innovation & Entrepreneurship
Middlebury has exciting innovation and entrepreneurship. Middlebury College’s Innovation Hub has successful and expanding entrepreneurship programs. The vibrant Exchange Street manufacturing district has room for more businesses, and workers there will soon enjoy the new multimodal path connection to Downtown.
