Economic Development Strategy
Park Central Development Corporation
Economic Strategy
Park Central Development Corporation (PCDC) is a non-profit community development corporation in St. Louis, MO that works to strengthen and attract investment that creates and maintains equitable, vibrant urban neighborhoods and commercial districts where people want to live, work and play.
Fourth Economy was engaged to create a 5-year Economic Development Strategy Plan encompassing PCDC’s wide service area, covering residential and commercial market needs requiring different strategies to support their mission.
Our Approach
Working with Key Strategic Group, who was creating a concurrent strategic plan for the organization, Fourth Economy conducted an economic analysis that included consumer spending and market potential, a business climate analysis, and real estate market analysis. The project also included key stakeholder interviews, focus groups, and Build Sessions to define strategies for the organization’s areas of focus around Residential Development, Redevelopment, and Rehabilitation; Commercial Corridor and Business Development; and Anti-Displacement and Community Wealth Building.
The Results
The final report includes a data-driven neighborhood classification system and implementation matrix that will allow the organization to deploy strategies across its service area. The report also includes individual neighborhood profiles so that the organization can understand the unique characteristics and deploy different strategies to best fit neighborhood needs and support existing and commercial corridors within the service area. The final report will guide the organization for the next five years and beyond.
Location
St. Louis, MO