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NPR ran a story today confirming exactly what myself and others have been positing--softening retail space demand is very much a national, and likely global, issue at the moment. NYC was cited specifically. Virtual shopping and political trends are major headwinds:
Quote:
"JIM ZARROLI, BYLINE: This is the corner of 71st Street and Third Ave., on Manhattan's Upper East Side, one of the wealthiest ZIP codes in the country. On one corner sits what used to be a supermarket with a huge for-lease sign. There's another empty space on the opposite corner and still another on the next block. Former city councilman Sal Albanese says there are hundreds of empty retail storefronts in this 14-block area.
SAL ALBANESE: I've run into people, very wealthy people, who complain that they can't even buy a bagel anymore in their neighborhoods."
In Kenney's favor, he's been pro-immigration for years. Long before younger votes were able to vote.
As I tried to infer his "vision", such as it is, is way too local.
Street gets knocked for NTI, but I think that it wasn't all that bad a program on balance: by clearing out the abandoned cars and buildings that were simply too far gone, NTI made a bunch of neighborhoods attractive enough for developers to kick their tires once Center City went viral.
I'm actually hoping that we will see a Nixon-in-China performance on Kenney's part wrt opening up the construction trades unions to actual Philadelphians and minorities in particular. From what I've heard from a few city workers, that's supposed to be a major element of Rebuild. And with Jerry Sweeney of Brandywine applying leverage in the same direction from the private sector on Schuylkill Yards, it just might happen IMO.
NPR ran a story today confirming exactly what myself and others have been positing--softening retail space demand is very much a national, and likely global, issue at the moment. NYC was cited specifically. Virtual shopping and political trends are major headwinds:
New York also has the big problem of outrageous rents making it nearly impossible for small businesses to make ends meet in many neighborhoods. Developers and building owners are greedy, there should be a cap on rent/ how much it can increase per year.
Street gets knocked for NTI, but I think that it wasn't all that bad a program on balance: by clearing out the abandoned cars and buildings that were simply too far gone, NTI made a bunch of neighborhoods attractive enough for developers to kick their tires once Center City went viral.
I'm actually hoping that we will see a Nixon-in-China performance on Kenney's part wrt opening up the construction trades unions to actual Philadelphians and minorities in particular. From what I've heard from a few city workers, that's supposed to be a major element of Rebuild. And with Jerry Sweeney of Brandywine applying leverage in the same direction from the private sector on Schuylkill Yards, it just might happen IMO.
For me Street gets knocked because he allowed blatant corruption in his administration, he saw no reason to tap down his psycho older brother and he gave us Darrell Clarke. Inspite of that, I agree, NTI was a good, needed, idea. Very few probably remember anything about now.
Street gets knocked for NTI, but I think that it wasn't all that bad a program on balance: by clearing out the abandoned cars and buildings that were simply too far gone, NTI made a bunch of neighborhoods attractive enough for developers to kick their tires once Center City went viral.
I'm actually hoping that we will see a Nixon-in-China performance on Kenney's part wrt opening up the construction trades unions to actual Philadelphians and minorities in particular. From what I've heard from a few city workers, that's supposed to be a major element of Rebuild. And with Jerry Sweeney of Brandywine applying leverage in the same direction from the private sector on Schuylkill Yards, it just might happen IMO.
I don't see where Kenney is all that bad. It may be that I don't have enough Philly experience to see certain patterns repeating themselves. It may also be that my reference point is Houston, which churns out iterations of libertarian mayors who err on the side of developers.
When moved here on early 2011, Nutter was mayor. I viewed him as visionary. But beyond the adoption of lofty long-term blueprints for the city, he lacked the political savvy to drive a whole lot of legislation through Council. It was as if he didn't want to get his hands dirty. Kenney comes from the wards, and has already shown that he knows how to get his plans enacted (compare how Nutter and Kenney fared with their respective soda tax campaigns). He seems to be seeking a more inclusive agenda than wallet-padding machine politicians I'm familiar with (e.g., pre-K expansion, Rebuild).
I don't see where Kenney is all that bad. It may be that I don't have enough Philly experience to see certain patterns repeating themselves. It may also be that my reference point is Houston, which churns out iterations of libertarian mayors who err on the side of developers.
When moved here on early 2011, Nutter was mayor. I viewed him as visionary. But beyond the adoption of lofty long-term blueprints for the city, he lacked the political savvy to drive a whole lot of legislation through Council. It was as if he didn't want to get his hands dirty. Kenney comes from the wards, and has already shown that he knows how to get his plans enacted (compare how Nutter and Kenney fared with their respective soda tax campaigns). He seems to be seeking a more inclusive agenda than wallet-padding machine politicians I'm familiar with (e.g., pre-K expansion, Rebuild).
How people perceive the city and the area nationally and internationally really, really matters in a way it didn't years ago. That should be obvious. Creating that positive vibe is something Nutter became very good at. He's a nerd at heart but he learned about how the public relations face the city projects to the world is vital for our future.
I would go so far as to say one of the reasons you ended up in Philadelphia is because of the forward thinking viewpoint he had which could literally be felt, viscerally, around town.
I would argue that Kenney has no plans, no strategy to what we need here over the next 15-20 years. Nutter helped push through the smoking bans which was just as big, if not bigger, than the soda tax which is already failing.
Nutter made bold predictions about how we could really grow the city population again. The only thing holding us back was ourselves. One of his apparent goals seemed to be to bannish Negadelphia-ism. I don't think Kenney thinks much about that. Sigh.
1400 Block - 4 vacant retail spots where Ralph Lauren, Armani Exchange, Kenneth Cole and Lacoste were.
1500 Block - 2 vacant retail spots where Puma and the new spot at 1527 Walnut (The Beacon) development. Aesop is now open in the old Art of Shaving spot.
1600 Block - 3 vacant retail spots where American Apparel, Conestoga Bank and Capitol One Cafe were. Capitol One Cafe moved across the street.
1700 Block - 2 vacant retail spots where Children's Boutique and Pearl Vision were. Children's Boutique moved to Chestnut Street, and Pearl Vision moved to 16th Street.
1800 Block - 0 vacant spots
^^11 total vacant spots is not bad if you ask me. I think stores that would do very well in Center City, that are not currently present, but are present in KOP are: Abercrombie & Fitch, Against All Odds, Altar'd State, Bailey Banks & Biddle, Bath & Body Works, Bloomingdale's, Brighton, Brookstone, Burberry, Burton, Bulgari, Cartier, Carolina Herrera, Clarins, Clarks, Coach, COS, Crate & Barrel, David Yurman, Diane Von Furstenberg, DSW, Ecco, Eddie Bauer, Fossil, Francesca's, Gucci, Henri Bendel, Hollister, Hot Topic, Hugo Boss, J.Jill, Johnston & Murphy, Joie, Journeys, Lego Store, Levi's, Lids, Longchamp, Lord & Taylor, Louis Vuitton, MAC, Marc Cain, Marmi, MCM, Microsoft Store, Nordstrom, Oakley, Oliver Peoples, Omega, PacSun, Philipp Plein, Pottery Barn, Primark, Restoration Hardware, Robert Graham, Shinola, Superdry, Swatch, TAG Heuer, Ted Baker, The Container Store, The Walking Company, Tommy Bahama, Tory Burch, Tourneau, UGG, Vineyard Vines, White House Black Market, Wolford, Zumiez.
Some of these are absolute NO BRAINERS. Ted Baker and Hugo Boss for instance would do extremely well on Walnut. Between Walnut, Chestnut and Market East, I really think we can get this Center City retail situation figured out. There really is no reason a lot of these stores shouldn't be here. I really think Center City just needs better Commercial Retail Brokers.
I'll do an assessment of Chestnut Street when I get a chance.
1400 Block - 4 vacant retail spots where Ralph Lauren, Armani Exchange, Kenneth Cole and Lacoste were.
1500 Block - 2 vacant retail spots where Puma and the new spot at 1527 Walnut (The Beacon) development. Aesop is now open in the old Art of Shaving spot.
1600 Block - 3 vacant retail spots where American Apparel, Conestoga Bank and Capitol One Cafe were. Capitol One Cafe moved across the street.
1700 Block - 2 vacant retail spots where Children's Boutique and Pearl Vision were. Children's Boutique moved to Chestnut Street, and Pearl Vision moved to 16th Street.
1800 Block - 0 vacant spots
^^11 total vacant spots is not bad if you ask me. I think stores that would do very well in Center City, that are not currently present, but are present in KOP are: Abercrombie & Fitch, Against All Odds, Altar'd State, Bailey Banks & Biddle, Bath & Body Works, Bloomingdale's, Brighton, Brookstone, Burberry, Burton, Bulgari, Cartier, Carolina Herrera, Clarins, Clarks, Coach, COS, Crate & Barrel, David Yurman, Diane Von Furstenberg, DSW, Ecco, Eddie Bauer, Fossil, Francesca's, Gucci, Henri Bendel, Hollister, Hot Topic, Hugo Boss, J.Jill, Johnston & Murphy, Joie, Journeys, Lego Store, Levi's, Lids, Longchamp, Lord & Taylor, Louis Vuitton, MAC, Marc Cain, Marmi, MCM, Microsoft Store, Nordstrom, Oakley, Oliver Peoples, Omega, PacSun, Philipp Plein, Pottery Barn, Primark, Restoration Hardware, Robert Graham, Shinola, Superdry, Swatch, TAG Heuer, Ted Baker, The Container Store, The Walking Company, Tommy Bahama, Tory Burch, Tourneau, UGG, Vineyard Vines, White House Black Market, Wolford, Zumiez.
Some of these are absolute NO BRAINERS. Ted Baker and Hugo Boss for instance would do extremely well on Walnut. Between Walnut, Chestnut and Market East, I really think we can get this Center City retail situation figured out. There really is no reason a lot of these stores shouldn't be here. I really think Center City just needs better Commercial Retail Brokers.
I'll do an assessment of Chestnut Street when I get a chance.
Nice work! I would frequent Ted Baker if they came to Center City. Great store!
Nice work! I would frequent Ted Baker if they came to Center City. Great store!
Same. I would frequent Ted Baker, Hugo Boss and Nordstrom. Right now the only place for work clothes/suits I really go in Center City is Suit Supply.
My girl would frequent Tory Burch, Longchamp and Nordstrom.
We have also made purchases at Burberry, Hermes, David Yurman and Louis Vuitton in KOP simply because they do not exist in Center City. Those purchases would've been made in Center City were they here since we live at 18th and Walnut. A lot easier to walk down Walnut Street than drive to KOP.
1400 Block - 4 vacant retail spots where Ralph Lauren, Armani Exchange, Kenneth Cole and Lacoste were.
1500 Block - 2 vacant retail spots where Puma and the new spot at 1527 Walnut (The Beacon) development. Aesop is now open in the old Art of Shaving spot.
1600 Block - 3 vacant retail spots where American Apparel, Conestoga Bank and Capitol One Cafe were. Capitol One Cafe moved across the street.
1700 Block - 2 vacant retail spots where Children's Boutique and Pearl Vision were. Children's Boutique moved to Chestnut Street, and Pearl Vision moved to 16th Street.
1800 Block - 0 vacant spots
^^11 total vacant spots is not bad if you ask me. I think stores that would do very well in Center City, that are not currently present, but are present in KOP are: Abercrombie & Fitch, Against All Odds, Altar'd State, Bailey Banks & Biddle, Bath & Body Works, Bloomingdale's, Brighton, Brookstone, Burberry, Burton, Bulgari, Cartier, Carolina Herrera, Clarins, Clarks, Coach, COS, Crate & Barrel, David Yurman, Diane Von Furstenberg, DSW, Ecco, Eddie Bauer, Fossil, Francesca's, Gucci, Henri Bendel, Hollister, Hot Topic, Hugo Boss, J.Jill, Johnston & Murphy, Joie, Journeys, Lego Store, Levi's, Lids, Longchamp, Lord & Taylor, Louis Vuitton, MAC, Marc Cain, Marmi, MCM, Microsoft Store, Nordstrom, Oakley, Oliver Peoples, Omega, PacSun, Philipp Plein, Pottery Barn, Primark, Restoration Hardware, Robert Graham, Shinola, Superdry, Swatch, TAG Heuer, Ted Baker, The Container Store, The Walking Company, Tommy Bahama, Tory Burch, Tourneau, UGG, Vineyard Vines, White House Black Market, Wolford, Zumiez.
Some of these are absolute NO BRAINERS. Ted Baker and Hugo Boss for instance would do extremely well on Walnut. Between Walnut, Chestnut and Market East, I really think we can get this Center City retail situation figured out. There really is no reason a lot of these stores shouldn't be here. I really think Center City just needs better Commercial Retail Brokers.
I'll do an assessment of Chestnut Street when I get a chance.
Not being a buzzkill but... All of the stores I bolded would close within a month if they opened in CC. Philadelphia is not rich, and CC is not a shopping destination. Stores like Philipp Plein, DVF, Cartier, etc. are extremely selective with where they chose to open. CC just does not have the market for stores of that caliber, KoP does. And even if the Fendi store in KoP isn't busy, its a showcase piece, just like the locations in Manhattan, LA, Boston, etc.
Store like Ted Baker, Hugo Boss, etc. would do well because they are high-end but not out of reach for many and they are well known. The only super luxurious stores that would do well in CC would be Gucci and LV because they are well known 'showy' brands. Also, CC does not have the wealth/ buying power to support a full Bloomingdales, Nordstrom, Macys, and Lord & Taylor. A Macys and one other department store. I am just realistic, KoP certainly killed any hopes of Philadelphia having a thriving retail scene, but either way, only a handful of those stores would perform well regardless of KoP, because the wealthy of CC is not enough to support that caliber of retail, and the tourism industry in Philadelphia doesn't generally attract super wealthy people like NYC.
Also Lilly Pulitzer is ignoring the city considering her headquarters are in KoP, add a Club Monaco Men's Store. And there is a Bath & Body Works in Liberty Place. Lastly, a handful of those retailers were at one point in Philadelphia but have since closed. Burberry and Coach most recently.
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