As town officials look toward Dartmouth’s financial future, the layout of the business district may need an overhaul.

The Select Board discussed a recent report on Dartmouth’s retail corridor, which includes the big box stores along Faunce Corner Road and Route 6. The study, which was prepared by the Southeastern Regional Planning and Economic Development District (SRPEDD), looked at the current state of Dartmouth’s retail district and possible uses for vacant space in that area.

Since last summer, town officials have been investigating ways in which Dartmouth can improve its financial standing in the years to come. Officials previously concluded that new development will slow down in upcoming years, citing a lack of large projects scheduled for 2017 and 2018.

To be proactive about future growth, two subcommittees formed. One group is exploring collaborative projects with UMass Dartmouth and the other is looking at reusing retail buildings around town.

A new study on the retail corridor paints a positive picture of the retail district as it stands now. According to the report, the 460-acre area in question “contains 360 firms and 5,000 jobs.” In fiscal year 2015, the corridor is estimated to have generated $4.6 million in tax revenue.

The report notes that the mall in particular is doing well, especially when compared to other towns blighted by “dying malls.” The Dartmouth Mall has about 6 million visitors annually, generating $440 of retail space per square foot.

“This position of strength is a good foundation from which to imagine and implement a new chapter for [the] area’s economic future and activity base,” the report states.

The report offers some options that could help the town generate more revenue, particularly on the corridor’s “significant excess parking.”

SRPEDD found that nearly 30 percent of the shopping district is covered by parking lots, which translates into 10,851 parking spaces. Citing data from the Institute of Transportation Engineers, the study states that the corridor has double the amount of parking spaces it needs.

Should the area be rezoned, some of those parking lots could become the foundation for mixed-use buildings, providing residents with moderately priced housing options. The study states that young adults and retirees are two key demographics for housing along the retail corridor.

“Over the last twenty years in Dartmouth, all segments of these two broad age group grew at higher rates than in Bristol County and higher than the overall population rate,” the report states.

Members of the UMass Partnership Committee, which met in January, discussed similar ideas. The group discussed ways in which the retail corridor on Route 6 could be more pedestrian friendly and provide opportunities for off-campus housing near the area of Toys "R" Us or Walmart.

The study recommends that the town evaluate and reduce its parking requirements in zoning bylaws. Doing so could mean more housing near amenities.