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Market Indicators
Development Opportunities
The Point Cadet sue builds on many development opportunities that work in favor of the proposed development. These include:
1.	A large amount of readily accessible waterfront land that makes up the site.
2.	The view from and to the site.
3.	The generally good accessibility of the site from Highway 90 and its connections with the Gulf Coast region, including the new ]•! 10 connector.
4.	The proximity of existing and proposed complimentary uses such as:
•	Point Cadet Plaza (International Plaza)
•	The State Park complex
•	The J. L. Scott Marine Education Center (and related facilities)
•	Seafood Industry Museum
•	Boatbuilding Exhibits
•	Pleasure boat manna facilities
•	Working harbor uses. i.e.. shrimp processing, shrimp boats, commercial and charter fishing boats, etc.
•	Proposed hotel, office and retail uses
5.	An established history of regional public attendance at festival-type activities.
6.	The existing tourist, conference and convention visitor market.
7.	The proximity of major metropolitan areas-New Orleans. Hattiesburg. Jackson and Mobile-that have substantial market populations that might be attracted to the Point Cadet project in the future.
8.	The potential for other supportive development activity on adjacent sites, i.e., Tivoli Hotel site and revitalization of the larger Point Cadet area.
9.	The immediate availability of the Point Cadet site for development with few environmental problems.
Note: The market sectors used for Biloxi-Gulfport are defined as follows:
•	Resident Market
The Primary Market is defined as (hat portion of the Mississippi Gulf Coast which is approximately within a thirty-minute driving time radius.
The Secondary Market is defined as the balance of the surrounding five-county coastal region, excluding the primary market. The five counties composing this region include George. Hancock, Hamson. Jackson and Stone.
Area of Influence Markets are defined as specific surrounding areas and metropolitan markets which are likely to provide a modest level of market response. Typically. this response is in the form of “day-trips” or “half-day-tnps" specifically to take advantage of the new marketplace and other waterfront amenities. In Biloxi-Gulfport, four such “Area of Influence" markets have been identified —South-Central Mississippi (Hattiesburg and surrounding counties)
—New Orleans. Louisiana metropolitan area —Jackson. Mississippi metropolitan area —Mobile. Alabama metropolitan area
•	Visitor Market
The “Day-Trip Beach-User Market" is defined as those visitors who are specifically using the sand beach, and who would visit the festival marketplace in direct conjunction with their beach use. This is to be considered different from (and in addition to) day-trip visitation from “area of influence" markets. The visitor-beach-user market is exclusively defined as the beach-usmg population, while the area-of-influence market refers to additional trips specifically for purchasing retail goods, food, and entertainment at the festival marketplace, with no beach use contemplated.
The Tourist Market refers to all out-of-area visitors who require overnight lodging. This group includes commercial or business travelers as well as convention and conference delegates and all other tourists who come to (he Biloxi-Gulfport area for recreation and personal travel. It also includes persons "passing through" Biloxi on the way to other destinations.
Trends in Average Household Income (*84 Constant Dollars)
Annual
($000'	Trends Projections: ReskJenl Market Sector:
Projections of Tourist Volume, and Retail Expenditures
Projected Number of Visitors and Visitor Expenditures
	1988	1996	1995
“Day-Trip Beach-Lsers": Number of Visitors	150,000	155,000	165,000
Expenditures per capita: (1984 Constant Dollars)	$ 10.00	$ 10.60	$ 12.00
Food and Beverages:	$ 8.00	$ 8.50	$ 9.50
All Other Retail:	S 2.00	$ 2.10	$ 2.50
Total Expenditures: (Millions of ’84 Const. $)	$ 1.50	$ 1.64	$ 1.98
Food and Beverages:	$ 1.20	$	$ 1.60
All Other Retail:	$ 0.30	$ 0.30	$ 0.40
“Tourists” and Lodgers: Total Number of Visitors:	800,000	849,673	968,750
Convention:	120,000	130,000	155,000
Commercial:	200,000	212,418	242,188
All Other:	480,000	507,255	571,563
Per Capita Expenditures: (1984 Constant Dollars) Food and Beverages: Convention:	SI 00.00	$105.00	$115.00
Commercial:	$110.00'	$110.00	$115.00
All Other:	$ 65.00	$ 65.00	$ 70.00
Entertainment & Recreation: Convention:	$135.00	$135.00	$140.00
Commercial:	$120.00	$120.00	$125.00
All Other:	$100.00	$100.00	$110.00
Total Expenditures: (Millionss of ’84 Const. $)	$153.40	$163.80	$200.50
Food and Beverages:	$ 65.20	$ 70.00	$ 85.70
Entertainment & Other:	$ 88.20	$ 93.80	$114.80
Retail Market Support for Point Cadet Festival Marketplace
Total Projected Retrf Sales (Mil. of *84 Const. DoSars)
Total Projected Safes:	1988	1990	1995
Apparel:	$ 0.49	$ 0.51	$ 0.54
furniture & Equipment:	0,19	0.21	0.26
Food & Beverages:	9.89	10.53	13.15
Miscellaneous Other Retail:	4.78	5.02	6.08
TOTAL:	$15.36	$16.28	$20.03
Specific Market Potential:
Retail: 45,000 • 60,000 square feet. Gross Leasable Area, Biloxi area (includes 20,000 sq. ft, seasonal, open air)
Office: 20,000 - 40,000 square feet, Biloxi area
Lodging: Class A resort type hotel development (200 to 250 rooms, based on 5-10% increase per year in demand)
Marita FacflMes: 2,000 - 3,000 slips, Mississippi Coast
Marine Support: Boatbuilding, repair, marine supplies and seafood offloading
(Please see MARKET pg. 8)
Source: The American City Corporation, A Subsidiary of The Rouse Company, 1985
Point Land Assembly Nears Completion
The acquisition of land for waterfront redevelopment at Point Cadet is rapidly coming to a close after a year of intense effort by the Point Cadet Development Corporation. Approximately 17 acres have been assembled at a total cost of about $2 million. Funds for the acquisition were provided by a U.S. Department of Housing and Urban Development Sec. 108 loan guarantee which allowed the City to borrow against future Community Development Block Grant entitlements.
The land assembly includes a'seven-acre tract controlled by the Board of Trustees of State Institutions of Higher Learning and located immediately South of the Gulf Coast Research Laboratory’s Marine Education Center.
In return for a 99 year ground lease, the Institutions of Higher Learning will share in proceeds of the waterfront development and have been deeded an alternate marine research site in Jackson County. The transaction has also required payment for the release of complicated federal covenants restricting use of the property.
Also included in the land acquisition was the purchase of seventeen private parcels comprising a total of approximately ten acres. One-third of these parcels have had to be acquired through eminent domain proceedings, but most of the land owners were willing to settle prior to trial. No residences were involved and all of the four existing businesses have been offered an opportunity to remain within the development site.
All of the property acquisition was based on fair market appraisals of the properties and followed strict federal, state and local regulations.
The newly acquired seventeen acres will be employed in the land-side development at Point Cadet which includes sites for the festival market, offices, the marina, a hotel, a water-park and marine-related services. Long-term ground leases will be issued through competitive advertising to private developers for the development and operation of these sites. Lease fees will be based on fair market rental appraisals for the land plus a small percentage of gross sales of each private development. Developers will also be expected to pay reasonable fees for maintenance, marketing and security for their fair share of the overall complex.
The City of Biloxi and the Biloxi Port Commission will be able to recoup their initial investments for acquisition, marina construction and site improvements through the lease fees received by the Point Cadet Development Corporation which they jointly own. These "profits” will be used for future acquisitions, like Deer Island, and further development, like the Rhodes Point industrial harbor area on Back Bay.
The additional seventeen acres, when combined with the ten acre state marine education facility, the three acre state park, and the fifteen acre city-owned Point Cadet Plaza will comprise a diverse waterfront complex or “campus” totaling 45 acres.
Marina Construction To Begin in June
Bids will be accepted in late May for construction of the new Point Cadet Marina. The project is being financed principally through a S3.5 million special obligation Port Commission bond.
The multi-purpose marina will ultimately include 140 pleasure craft slips, 100 commercial docking berths for fishing vessels, 30 transient (visiting boat) slips, and specialized dock space for tour, dinner cruise and excursion boats. The marina will be served by a fuel dock, ship’s store, unloading facilities and full-time security.
Marine repair and supply outlets are also planned for the adjacent Point Cadet waterfront. Construction is slated to begin in June with slip occupancy projected for early 1987. Due to the high demand for berthing space on the Gulf Coast, the Port Commission is now accepting applications for slip leases.
Developers Interest Remains High
Ever since the publication of the award-winning Biloxi Waterfront Master Plan, interest in the Point Cadet waterfront project by private developers has remained at a high level. Representatives of over a dozen large development groups from throughout the country have expressed a desire to participate in the private investment opportunities at the Point. Several have expressed the desire to possibly build and operate all of the proposed private-sector developments.
Major development opportunities include the festival marketplace, marine-related offices, a hotel complex, a wave-pool/waterpark facility, and a marine repair and service complex.
Competitive advertising to solicit prospective developers will begin this Spring. The developers who are selected will be expected to follow local development codes and design standards and to provide ample opportunity for local waterfront businesses to locate and succeed within the Point Cadet complex.
Waterfront Center Development Workshop
The Waterfront Center. Washington. D C., a national interest group for waterfront preservation and enhance-
ment, will assist local development groups in conducting a workshop on private waterfront development, at the Biloxi Hilton on Friday, May 30, 1986. Ann Breen and Dick Rigby. Center co-directors, have had considerable experience in presenting similar workshops throughout the country for varied local, regional, and national audiences.
The workshop will feature speakers from other areas who have successfully initiated waterfront development. The focus of the all-day workshop wil be to identify private sector opportunities, define public sector responsibilities and plot a strategy for a public-private waterfront cooperation at Biloxi’s Point Cadet.
The overall goal of the workshop is to bring all potential developers, investors and businesses together for an exchange of ideas and information concerning planned development of the Biloxi Waterfront.
Workshop sponsors include the City of Biloxi, the Biloxi Port Commission, the Greater Biloxi Development Foundation, the Biloxi Chamber of Commerce and the Point Cadet Development Corporation.
Waterfront Business Opportunities Are Many
The Point Cadet waterfront complex is being designed for an annual visitation of about one million persons-or 7500 persons, a day, peak. Thus, there will be plenty of opportunities for local businesses to thrive and prosper.
Among the hundreds of business opportunities that should be generated by the development are:
1)	Specialty Retail - marine products, nautical items, collectibles. souvenirs and gifts, clothing and similar specialty shops;
2)	Food and Beverage - restaurants, food booths, fresh produce, spices, seafood markets, bakeries, etc.;
3)	Marine Offices - seafood brokers, yacht brokers, exporters. documentation services, marine surveyors, naval architects, and other marine consultants;
4)	Visitor Transport - shuttle buses, tour guides and buses, water taxis, and cruise, charter and tour boats:
5)	Marine Services - boatbuilding and repair, yacht and boat sales, marine hardware and supply outlets, seafood distributors; and
6)	Convenience Goods - fuel, ice, groceries, laundromats and personal services.
These are but a few of the many businesses for which demand will be created, once Biloxi’s unique waterfront environment is put on display at Point Cadet. Reestablishment of Biloxi as the seafood/marine/yachting center of the Gulf Coast will foster business growth along the entire waterfront.