Market place analyst to assist with comprehensive plan

Direction 2030: Your Voice, Your Choice, the Kenton County Planning Commission’s effort to create a new countywide comprehensive plan is gaining momentum following completion of four first-round public meetings. Analysis of the public input and comparisons with national trends are now underway by staff with the assistance of a market place analyst.

“We’re committed to recommending policy in this plan that’s rooted in market reality,” said Keith Logsdon, AICP, NKAPC’s deputy director for long-range planning. “In order to do that and take the public’s desires into consideration, we’ve contracted with Michael Dinn, CRE, of Dinn Focused Marketing Inc. in Wilder.”

Dinn has over two decades of experience in residential and community development and has worked extensively with developers in Northern Kentucky and Cincinnati. He has also been a part of development projects all over the country, according to Logsdon.

Dinn has established himself as an expert in housing and community development with an emphasis on market performance, product positioning, and alignment. He was recognized in 2003 with an invitation and certification into the prestigious Counselors of Real Estate®. CRE is the widely-recognized organization of the finest real property advisors with only 1,100 members worldwide.

According to NKAPC’s executive director Dennis Gordon, FAICP, the Great Recession has made it more important than ever to analyze market conditions while crafting long-range comprehensive plans. Housing statistics such as foreclosures and vacancies, data on commercial real estate, and generational preferences are key factors in attracting growth and development. Gordon says that Dinn will assist in evaluating and understanding the dynamics of the local market and ensuring that the new comprehensive plan makes Kenton County economically competitive, affordable, and attractive.

National trends on generational preferences indicate that different generations desire different job types and housing. Those trends show that baby boomers (those born between 1946 and 1964), for example, are trending toward smaller lots, smaller homes, and less maintenance. This generation represents approximately 25 percent of Kenton County’s current population. This begs the obvious question of whether Kenton County’s housing market can provide the product that this generation desires.

Dinn’s market place assessment will provide planners an opportunity to understand the current housing market—including the products available—and to include in the comprehensive plan an indication of what products and amenities may be needed to retain and attract different generations to Kenton County.

“The last full housing cycle took 20 years, with the last ten seeing a wave of housing change, said Dinn. “The next 20 years will see a different, shifting marketplace. It’s critical now to measure our local market depth and chart its changing direction.”

“We’ll employ the best local datasets and collaborative professionals to trend our marketplace, striving to face forward and bring genuine forecasting to the Direction 2030 plan,” he said. “We believe our changing marketplace will demand a greater choice in neighborhoods and a better connection to their lifestyle and experiences. Without choice, many motivated householders will choose with their feet by relocating out of Northern Kentucky.”

Second-round public meetings for Direction 2030 will begin in March. Stay up to date on the progress of the comprehensive planning effort on NKAPC’s website, the Direction 2030 website, or Facebook.