Could Midtown's Peachtree Street be the next Shopping Mecca?

[Newnan]

http://www.midtownalliance.org/RET_Vision.htm

This is an article on the Midtown Alliance's webiste that talks about Peachtree Street's potential to be the next Michigan Avenue. What do you think?

if it did happen, would it hurt Lenox and Phipps?

[atlla]

http://www.midtownalliance.org/RET_Vision.htm

This is an article on the Midtown Alliance's webiste that talks about Peachtree Street's potential to be the next Michigan Avenue. What do you think?

if it did happen, would it hurt Lenox and Phipps?

That would be extremely hard. First of all, there is as much high-end residential being built, if not much more being built in Buckhead than Midtown. Therefore, it is unlikely that Saks, Gucci, Versace, etc. would open another location or attempt to move from an area as prestigous as Buckhead. There is a plethora of high-end stores and boutiques on Michigan Ave. Maybe Midtown could have an Ikea version of a Michigan Ave. With the Peachtree Corridor that is about to start in Buckhead, the atmosphere up there in Buckhead is going to change drastically and really make that place have an upscale urban feel. Though it wouldn't be like Michican Ave., it will be on the same level as Michigan Ave. and Manhattan.

[Martinman]

I think this is only a matter of time...and not that much time. The Chicago developer who developed Water Tower place stated many of the indgredients are already in place.

The popularity of Atlantic Station shows that the area is ready for urban retail and retailers are taking notice.

Now Novare and the Daniel-Selig team are both proclaiming to take street level retail in Midtown to the next level with their next developments.

The final piece of the puzzle could be the east side of Peactree between 10th and 14th. I doubt Dewberry will ever be able to develop Midtown Square but it could wind up being a good thing that all of that prime property is sitting there empty as the city develops around it. A qualified developer could do a fantastic project when the area is ripe for it.

[Andrea]

I would think high-end retail would be more likely to follow the high-end hotel and residential development. But I honestly don't know how the retail business works.

[catlike]

Maybe Midtown could have an Ikea version of a Michigan Ave.

Funny that you mention Ikea, when high-end furnishings and housewares are the one thing Midtown does have retailwise (eg., Lignet Roset, Space, Kartell, Alessi, etc.)

Midtown doesn't necessarily need more $10K sofa stores, but instead more things that regular people in regular houses need. Looking at a map of Michigan Avenue, there are a wide variety of shops, ranging from off-price stores to well-known chains and department stores to exclusive boutiques. That's what makes it so great--the fact that draws from such a variety of spending types.

[Martinman]

Funny that you mention Ikea, when high-end furnishings and housewares are the one thing Midtown does have retailwise (eg., Lignet Roset, Space, Kartell, Alessi, etc.)

Midtown doesn't necessarily need more $10K sofa stores, but instead more things that regular people in regular houses need. Looking at a map of Michigan Avenue, there are a wide variety of shops, ranging from off-price stores to well-known chains and department stores to exclusive boutiques. That's what makes it so great--the fact that draws from such a variety of spending types.

Exactly. Why is it that so many people seem to think that urban retail only consists of really expensive stores?

[Martinman]

I hear that Novare has been talking to national retailers to design the space appropriately to attract major retailers and that they even took a field trip to Chicago to see how its supposed to be done.

[charlotte_bon_vivant]

I hear that Novare has been talking to national retailers to design the space appropriately to attract major retailers and that they even took a field trip to Chicago to see how its supposed to be done.

I'd love that! I do hope Novare succeeds.

[Lady Celeste]

It could well become one of Atlanta's shopping destinations. My advice would be to not try to compete with Lenox but rather offer something uniquely Midtown. I would say go for the edgy type stores. One of a kinds in the southeast. Lenox has the higher end...and not every shopping destination is merely highend. Midtown has...oh what is that stores name...the big blue one that sells furniture...Ikea....I can't believe I actually typed what I was thinking but I really forgot the name of the store....anyway, I would work off the trendy theme for midtown. It would also be nice to see some more grocers or bodegas along some of the side streets. Publix @ Plaza Midtown is a start. Let us see if we can continue on with the trend.

[johnatl]

Lady Celeste - You hit the nail on the head. I think that is indeed what is coming up for Midtown - the edgier type stores, with an emphasis on home decor. The only "mainline" type known chain I hear repeatedly is a multi-level Crate & Barrel.

[Newnan]

If the Peachtree shopping strip becomes too successfil though it could hurt Lenox and Phipps. And as much as I like outdorr shopping, I wouldn't want to see that happen. It would benefit both dhopping districts if they followed Celeste's advice

[Lady Celeste]

If the Peachtree shopping strip becomes too successfil though it could hurt Lenox and Phipps. And as much as I like outdorr shopping, I wouldn't want to see that happen. It would benefit both dhopping districts if they followed Celeste's advice

Why would they hurt each other?

If they grow seperate identities then all they could do is compliment each other. As I said and JohnAtl reiterated, Midtown can find it's own niche' and fill that. Noone is supposing that a Neiman Marcus, Nordstrom or Bloomingdales is what is needed to make Peachtree street a shopping mecca. If that was the case then wouldn't Perimeter Mall be more of a threat? No....because a good buyer (for the department stores) will know exactly how to make area stores compliment each other.

[Newnan]

I agree, that's why I said it would benefit both shopping districts if they used your advice

[Lady Celeste]

I agree, that's why I said it would benefit both shopping districts if they used your advice

Sorry Suge, I didn't see the last part. Thanks for the vote of confidence though. By the time you have your corporation up ans running, you will be so knowledgeable that it would be hard for you to not to excel.

[Martinman]

This isn't about Peachtree but it is exciting intown retail news

Storehouse takes space on Ponce- AJC

The building at the corner of Ponce de Leon and Highland avenues, formerly home to specialty grocer Market One, has a new tenant

[mahanakorn]

My advice would be to not try to compete with Lenox but rather offer something uniquely Midtown. I would say go for the edgy type stores. One of a kinds in the southeast. Lenox has the higher end...and not every shopping destination is merely highend.

I recently read of Madame Mayor attending a retail convention in LA, presumably to drum up interest in new or reborn Atlanta shopping districts. Seems to me she'd make an outstanding international ambassador as well.

Why not send Shirley to solicit international department stores that do not currently have a US presence? Examples: NK and Ahlens (Stockholm), KaDaWe (Berlin), Isetan (Tokyo), Central (Bangkok), Bon Marche (Paris), Bijenkorf (Amsterdam). Some of these chains already have international strategies, though only Isetan is currently invested in the US.

One or more such retailer might be persuaded that Atlanta's advantages as a beachhead outweigh those of more obvious locations (NY, LA, SF). They can make a bigger splash in ATL if they succeed, with less risk of a negative international media jam if they fail.

Meanwhile, Atlanta's born-again retail districts can boast shopping ops that aren't available elsewhere in the metro, the region or the nation. Get one or two stores that can market "Tokyo style" or "Scandinavian design sense", next smaller stores with an international orientation move in nearby. Could be a nice synergy. Atlanta could build a reputation as an outpost of worldwide hip fashion.

Lady Celeste, as our in-house shopping maven, will you venture an opinion. Will Atlanta shoppers support foreign fashions? Do they dare to be different or are they fashion sheep?

(Malls give me the willies and I personally hate to shop, so I'm not qualified to judge. I do, however, like the energy of an urban shopping district).

[Andrea]

^Maybe something like Pitt Street Mall in Sydney would work.

[charlotte_bon_vivant]

Why not send Shirley to solicit international department stores that do not currently have a US presence? Examples: NK and Ahlens (Stockholm), KaDaWe (Berlin), Isetan (Tokyo), Central (Bangkok), Bon Marche (Paris), Bijenkorf (Amsterdam). Some of these chains already have international strategies, though only Isetan is currently invested in the US.

It's difficult to compete in the U.S. The times major dept. stores have ventured into U.S. retail they've seen declining profits, bad partnerships and takeovers. For the most part, you have to have a strong international presence like H&M or such a unique offering like Takasimaya to survive. For many retailers, it is pointless to come here and compete with BG selling the same merchandise. And those retailers with unique concepts find translating that concept to an American market difficult and cost prohibitive. I like the idea of it, but what would be the point of having say, Tangs in the U.S. Most Americans wouldn't be familiar with the name and the buzz wouldn't be great enough to get people in the door. I'm sure many expats would like to see a familiar shopping destination, but that isn't enough to sustain business. Besides, in an increasingly xenophobic America, would you want to do business here???

P.S. Does Isetan really count?

ETA: In addition to the above openings, Tom Colicchio is opening a Craftsteak in Atlanta somewhere on Peachtree. The rumour I heard is it will open in one of the new highrises. It's set to open next year.

[jliv]

I don't see the Peachtree Corridor in Midtown becoming another Michigan Avenue or Fifth Avenue, but it could possibly become another Clark St. or Broadway in Soho. There are a multitude of retailers who have established stores in the Dallas, Miami, and Houston marktets and haven't yet moved into Atlanta. As Phipps is almost completely leased out, and Lenox Square has limited space, I could see these retailers putting stores into other developments that can give them the visibility and cache they look for, with a younger shopper. Midtown provides that hip, urban environment, and is beginning to prove itself as a viable retail destination. Atlantic Station, while being nothing special, proves that there is a significant retail market in Midtown.

[Martinman]

A recent study was done to demonstrate the potential for retail along Peachtree

The research indicates that many factors, including a 300+ percent increase in population over 10 years and a typical psychographic/demographic profile of a young, educated and affluent consumer, point to success.

[*]7,800 residential units have been added to the Midtown market since 2000.

[*]Sixty-two percent of Midtown residents are college-educated.

[*]The median age is 34, and the average family income is $92,500.

[*]Midtown

[ironchapman]

^^Some high income families and high cost homes there, Martinman.

Though it's not really surprising for stats within the city limits.

[Abe2M12]

I would love a Crate and Barrel along Peachtree, but with a modern design like the ones in chicago, nyc, and southcoast/suncoast (don't know) plaza, not like the plain one at Lenox. I think peachtree could handle stores that can compete w/ lenox and phipps but with the condition that they don't repeat the same stores (gap, ann taylor, banana rep, etc) like Atlantic Station did, instead new stores to atlanta like ted baker, puma, Zara, or even a free standing flagship Barney's New York! would be nice plus its not like lenox or phipps can attract these stores because they are running out of space unless they expand like lenox is doing.