When Horizon Properties began developing plans for the mixed-use ‘The Street at The Meadows’ project last year, it looked at demographic and traffic studies related to the Racetrack Road corridor to support the concept, including the following data:
• The Meadows Racetrack & Casino attracts more than 3.65 million visitors annually, or more than 10,000 per day.
• The average number of daily car trips on Racetrack Road is 13,760.
• The current population within a 30-minute drive to the corridor is 672,000.
• Consumer spending within a 5-mile radius was more than $873 million in 2011.
• Nearby hotels are sustaining between 60 and 70 percent occupancy rates, with more than 730 rooms available.
• Tanger Outlets, located across Racetrack Road from the casino, offers more than 80 prime retailers.
Source: Horizon Properties Group and Cushman & Wakefield/Grant Street Associates Inc. Retail Services Group