Most of the 22,000 residents of Hudson, OH (30 minutes from Cleveland) were no longer shopping downtown, but going elsewhere - a familiar story.  Not so common however, is the level of vision and investment to reverse that trend.

The City and Hudson Village Development; a development company formed by Tom Murdough, a 31-year old entrepreneur who wanted better for his town, formed a public-private partnership to expand its historic 200-year-old downtown and village green.  They sought extensive input from the residents before selecting Fairmount Properties of Cleveland, OH as the main developer.

The result is First & Main, a 14-acre mixed-use retail destination designed to enhance and complement the adjacent historic main street, though not exactly a model for affordability.

Some key statistics:

- 120,000 s.f. of retail/restaurants
- 40,000 s.f. of office
- 12 townhouses, 18 loft condos.
- Total project cost: $50 million
- City investment: $25 million (roads, sewers, utilities, parking, funded through 30-year loans generating a return of at least $29.5 million over 20 years in sales taxes.)
- Less than 50% national chains (however, most of the rest are regional chains)

Key takeaway?  Identify (or become) a Tom Murdough in your town.  Read more about First & Main’s development here.