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Town Center Plan
January 2007
Appendix 4
MEMORANDUM
August 16, 2006
TO:
Mr. Warren Raybould
Raybould Associates
FROM:
Randy Gross
SUBJECT:
Morrisville Town Center
Market Review & Strategic Recommendations
This memorandum provides a detailed site analysis, economic overview, and findings from the market
reconnaissance conducted for the Morrisville Town Center. A preliminary town center concept is offered
based on a market opportunities assessment. Some of the findings and concepts are presented in
bulleted format for the sake of brevity.
Economic & Demographic Overview
A brief economic and demographic overview was conducted in order to provide context for the overall
opportunities assessment. Overall demographic characteristics are discussed for the area, particularly
in relation to Morrisville’s rapid population growth. Economic factors and trends are discussed in order to
provide an indication of Morrisville’s business growth and its role in the area economy.
Demographic Characteristics
Morrisville has seen exceptional growth during the last few decades. This booming suburban area, with
close to an estimated 15,000 people, was an isolated country crossroads of 251 inhabitants just 25
years ago. Even as late as 2000, the population of Morrisville was just over 5,200 or about one-third of
its current estimated population. While growth remains exceptional in Morrisville, the
rate
of population
growth is declining as the overall base expands.
The population growth in Morrisville is heavily influenced by the nearby employment opportunities in
Research Triangle Park (RTP). Morrisville’s residents (in 2000) were twice as likely to have a bachelor’s
degree or higher than the general U.S. population. RTP has attracted a large number of talented
professionals from overseas, and Morrisville’s population is characterized today by a relatively high
percentage of highly-educated, foreign-born residents. It is no coincidence that Morrisville has one of the
few Indian grocery stores in the Triangle. Key demographic characteristics of Morrisville are summarized
in Table 1.