Forbes emphasized “there are countless stories of startups finding the road to massive growth by first starting with smaller communities.”
Healthy suburban neighborhoods are cultivated by smaller markets with surprisingly huge potential. Business owners like you seeking opportunity for growth and investment in your workforce and revenue will find it nearby Kalamazoo Crossings. Surrounding suburban neighborhoods are bursting with great potential for recruiting employees and retaining customers.
PlazaCorp’s objective is to maximize real estate value for existing and potential tenants. Kalamazoo Crossings is a prime example of how location can drive value and business growth. “From the first day we put a shovel in the ground at 3124 South Westnedge Avenue, we knew the quality and density of the neighborhood’s population would provide the essential customer base for our tenants to thrive,” stated Jon Jurhs, Director of Leasing and Marketing.
Kalamazoo’s healthy suburban community not only measures closely to strong state and national demographics, but highlights good-quality residential traits, which show great potential for local businesses here. This targeted suburban area is made up of Kalamazoo’s neighborhoods: Winchell, Milwood, Westnedge Hill, and South Westnedge. This target area consists of nearly 30% of Kalamazoo’s population living within a 2-mile radius, with the majority of 15.8% between ages 25-34, 12.4% between ages 35-44, and 12.3% between ages 45-54. A younger populated community indicates that the majority is well-trained and well-educated, giving local businesses a competitive advantage over recruiting and retaining a strong workforce and customer base.
The character and quality of housing in this healthy suburban community solidifies the benefits of having a suburban business site. Kalamazoo’s four neighborhoods addressed above consist primarily of single-family homes, yet offer a wide variety of housing opportunities. Amongst the vibrant streetscapes, family-oriented culture, and safe, welcoming feel of these neighborhoods, having a varied selection of housing is sure to attract a wide range of people with different housing needs and budgets, and in turn, retain current residents if their needs were to change.
“Over my 17-year career, these are the four most popular neighborhoods of their kind in Kalamazoo,” stated Todd Bradfield of Berkshire Hathaway HomeServices (Michigan). Bradfield shared that based on the last twelve months in closed residential sales prior to April 2014, Milwood showed the highest percentage in total market sales amongst other neighborhoods citywide. Milwood also showed a short average listing period before sale of 1.5 months. The South Westnedge neighborhood showed an even shorter average listing period of 1.45 months, while the Winchell neighborhood, reputable for its higher-valued residential sales (between $200K and $999.9K) showed a slightly higher average listing period of 2.13 months. But compared to Michigan’s average listing period before sale of 154 days, or 5.13 months, (for a single-family home), these Kalamazoo neighborhoods are proven desirable to homebuyers, locally and state-wide, and it doesn’t show as a surprise. The characteristics of these neighborhoods present hard-to-come-by homebuyer opportunities with the individuality and curb appeal they are seeking in a home, which leads to highly marketable neighborhoods.
Much of this residential market is young, with the majority falling within the 25-35 age group. Sources state that “the vast majority of young people in their late teens and 20’s (over 80%) live outside core cities. Roughly 38% of young Americans live in suburban areas, while 45% live outside the largest metropolitan areas, mostly in smaller metro areas.” Kalamazoo’s high ratio of Millennials (born between 1983 and 2003) living within the suburban community is likely due to the number of retained graduates from the city’s reputable universities and colleges (like WMU, KVCC, and K-College). Recent graduates are beginning their corporate ascent financially, but have a higher percentage of disposable income, which they spend on goods and services more freely. Locating your business near Kalamazoo’s suburban community would a give you a competitive edge, considering the good-quality community surrounding you and the untapped, well-educated workforce pool easily accessible to you.
Retailers, developers, and other business owners are pursuing business opportunity in smaller communities like these, as opposed to large industrialized cities, because of their residual benefits towards people, i.e. their customers and employees. These Kalamazoo neighborhoods take pride on their visual appeal, but also social appeal for their cultural offerings and amenities. Milwood residents enjoy easily-accessed Milham Park and the adjacent 18-hole golf course, while Winchell neighbors of all ages take advantage of nearby parks, ponds, and nature preserves for a quiet bike ride or dog walk. Children of Winchell also benefit from one of the “best elementary schools in Kalamazoo,” Winchell Elementary School, offering them a high-quality education. Healthy suburban neighborhoods (like these) offer a positive environment to live, work, and grow. These communities will essentially become more economically stable and sustainable for raising happy residents. Happy residents will not only want to stay and grow, but they will also be more willing to offer a good return on investment by putting dollars back into their community, which in turn, will help local businesses increase their revenue. Happy residents also make for happy and productive employees, creating a positive work environment for businesses located here.
The demographic makeup of Kalamazoo’s suburban community may reflect your vision of a viable business location. Strategically locating your business in smaller, healthier communities, like those in Kalamazoo, could grow your business and enhance your bottom line.