Fayetteville to conduct market analysis

As part of its plan to redevelop its central business district, the city of Fayetteville will spend $24,500 for an independent market analysis of the project.

The Fayetteville City Council voted 5-0 Tuesday to enlist Noell Consulting Group to identify audiences and market demands related to retail and dining, rental apartments, offices and single-family residential units, including condominiums. The study will be conducted over eight weeks.

City Manager Ray Gibson said that without the data provided by a market analysis, “a lot of our vision might not become reality.”

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