When you work in neighborhoods undergoing significant, rapid change, it helps to get a little creative with your research and data sources, especially as we move further away from the last census.
Here are some of our favorite (and fun!) tools that we use to understand what’s been happening in the communities where we work. Let us know in the comments what tools you use to understand neighborhood change.
Tracking
Buzz
Yelp Wordmap
Yelp Wordmap
Yelp’s
new Wordmap (launched yesterday!) shows density of keywords used in Yelp
reviews around different cities. These maps are helpful in understanding
characteristics and mix of local businesses, and the consumers in each of these
neighborhoods. They may also prove useful if you’re searching for prospective retailers
to bring to your community, or for businesses that are considering expanding
into new markets.
They also reveal some subtle differences in clientele (Williamsburg has a density of Hipster businesses, while Park Slope and Prospect Heights are more appealing to Yuppies) and regional differences (Yelpers like to eat/review Biscuits in Portland, OR, Hoagies in Philadelphia, Dim Sum in San Francisco, Poutine in Toronto, and Bacon just about everywhere.) We hope they’ll add in a timeline feature so we can see how these clusters change over time!
They also reveal some subtle differences in clientele (Williamsburg has a density of Hipster businesses, while Park Slope and Prospect Heights are more appealing to Yuppies) and regional differences (Yelpers like to eat/review Biscuits in Portland, OR, Hoagies in Philadelphia, Dim Sum in San Francisco, Poutine in Toronto, and Bacon just about everywhere.) We hope they’ll add in a timeline feature so we can see how these clusters change over time!
Yelp Reviews that Mention "Hipster" in NYC |
Google Trends
Tracking Recent Investment and Growth
Google Trends allows you to see how, when, and how often
people have been Googling different terms (since 2005). We use this to evaluate
any “buzz” around a neighborhood, and to see how communities stack up against
one another in terms of search popularity. See below how NYC’s five boroughs
have trended over the past eight years.
(Just for fun - try putting in different parks
and beaches to see how the trend lines change with the seasons.)
Understanding
New Customers
LOA Lifestyle Matrix
Inspired by retail guru John Williams approach
to tenant mix analysis, we’ve created the LOA Lifestyle Matrix that we use to plot
both customers (using psychographic
data) and retailers in a particular commercial district by Income/Price and
Lifestyle. By overlaying these two data points, we can visualize fairly
quickly how well stores in a particular place are meeting the needs of their
community, and what consumers want (do they want an expensive trendy store like
Opening Ceremony, or one that is trendy but inexpensive like Rainbow? Is this a
J. Crew shopping district or a Talbot’s kind of market?). We can then identify
any mismatch between offerings and customers, and use that insight to both
attract the right mix of new retail, while also helping retailers adapt to
neighborhood change. Even if you don’t have access to psychographic data, try
creating your own matrix with census data, Yelp reviews, and other free
sources.
Impact of
Transit on Neighborhood Change
Annual Subway Ridership
So much of urban development is influenced by access and
proximity to transit. In New York, the MTA collects annual ridership by
station. Using this data, we can see where the most significant increases in
ridership are happening, which can help us understand where new activity and
investment is taking place and project what neighborhoods might be next.
Tracking Recent Investment and Growth
Property Shark Maps: Home Price Changes by Neighborhood (2012 vs 2004)
Property Shark maps the change in price per
square foot of residential properties by neighborhood. This helps to illustrate
where new investments are being made, and what neighborhoods are struggling,
stagnant or soaring.
Brooklyn Price/ SqFt Changes 2012 vs 2004 |
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