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spenser1058

Even Downtown Brooklyn Struggled With Retail

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The New York Times has a great story on the revival of downtown Brooklyn:

 

http://www.nytimes.com/2013/11/24/realestate/In-Brooklyn-The-Other-Downtown.html

 

What I found interesting was how retailers resisted it until quite recently:

 

"The arrival of national storefronts is a big shift for the area, said Mr. Laboz, recalling a negotiation with a major department store about six years ago. In the end, he said, “they couldn’t come to terms with going to Brooklyn, and at the last minute they pulled the plug.”"

 

It again demonstrates for us there's no particular formula or logic about retailers taking a flyer and deciding to come to an area. It's all about perception, and the perception has to be nurtured. When that's lacking, there are simply too many other options. Put another way, "the squeaky wheel gets the grease." 

 

Also, wondering about numbers? 

 

"A second wave of residential development is expected to expand the market by 3,384 apartments in 12 buildings in the next three years, altering the skyline and boosting the population by more than 60 percent to some 21,000 people."

 

21,000? We've got that covered with very little difficulty. Still, while downtown Brooklyn gets everyone from H&M to Swarovski Crystal, we're told we're still waiting for more rooftops.

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I drove down Broadway in downtown LA last month, and they're putting in an Urban Outfitters amidst all of the pawn shops! Could it be that Brand Orlando is in serious need of some rehab?

Edited by jliv
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