In conjunction with Gov. Rick Snyder’s Rising Tide initiative, the City of Hillsdale received a Target Market Analysis, providing a housing study that hopes to prompt growth and development within the city.
Snyder’s 2015 initiative selected ten communities throughout Michigan, based on the state of economics and growth in each “prosperity regions.” Hillsdale represents region 9, Southeastern Michigan, and received services from consulting firms selected by the state, namely LandUseUSA and TED, an agency for Talent and Economic Development.
“It’s a big deal for Hillsdale to be selected for these consultation services,” Sharon Woods, CRE, Principal owner of LandUseUSA said. “They have the opportunity to get on the right track for economic growth.”
The TMA is a housing study looking at households migrating to and from the city of Hillsdale, as well as those seeking attached housing with good indication of an urban location.
“Michigan has the desire to retrain and attract talent, which is both millennial and aging adults on the move,” Woods said. “Singles of all ages and in different regions are looking for a ‘hip, vibrant, walkable’ place to live.”
The City of Hillsdale had investigated providing their own TMA prior to their being chosen by the Rising Tide initiative.
“We looked into doing this ourselves, but it was too expensive,” Mary Wolfram, director of Economic Development, said.
The next step for Hillsdale will involve private investors as well as local builders and developers acting upon the growth opportunities to support more housing units in the area.
Upon finalization, the report will be available on the City of Hillsdale’s website and in the Clerk’s office, to be sent out by request.