Downtown Fort Wayne RANT

[belovenow]

I wonder how much commercial property tax collection in downtown contributes to the City/County budgets? How much would it be felt by the budgets if small businesses there didn't pay commercial property tax (and landlords leasing to small business owners didn't pay commercial property tax on the % of property leased)? Would the budgets be hit hard or would the sales/income tax collected by successful small businesses make up for the difference?

I learned today that the retail space within Harrison Square is being leased at $30.00 per square foot (that's a per year figure) and it's NNN (which means the landlord is passing on all the property taxes and maintenance costs and utility costs onto the retail tenents as well - estimates would be about $7.00 per square foot on top of the $30.00). For those unfamiliar with such numbers, just take my word for it, the figures are outrageously high... outrageously! For just a 1 thousand square foot retail location per month rent will be in the ballpark of $3083.00! On top of that the tenant has to pay electrical, gas, telephone/broadband/waste removal bills as well! LOL! One could get space at Glenbrook Square or Jefferson Pointe for less! There isn't a single small business owner in their right mind considering paying such ridiculous rent. If you want to see more small business owners in Downtown Fort Wayne, the landlords in this vicinity have got to be more reasonable.

[fakie]

Explains why Anytime Fitness is the sole leaser (as of late July).

[fabumom07]

Originally Posted by mbuszu

I wonder how much commercial property tax collection in downtown contributes to the City/County budgets? How much would it be felt by the budgets if small businesses there didn't pay commercial property tax (and landlords leasing to small business owners didn't pay commercial property tax on the % of property leased)? Would the budgets be hit hard or would the sales/income tax collected by successful small businesses make up for the difference?

I learned today that the retail space within Harrison Square is being leased at $30.00 per square foot (that's a per year figure) and it's NNN (which means the landlord is passing on all the property taxes and maintenance costs and utility costs onto the retail tenents as well - estimates would be about $7.00 per square foot on top of the $30.00). For those unfamiliar with such numbers, just take my word for it, the figures are outrageously high... outrageously! For just a 1 thousand square foot retail location per month rent will be in the ballpark of $3083.00! On top of that the tenant has to pay electrical, gas, telephone/broadband/waste removal bills as well! LOL! One could get space at Glenbrook Square or Jefferson Pointe for less! There isn't a single small business owner in their right mind considering paying such ridiculous rent. If you want to see more small business owners in Downtown Fort Wayne, the landlords in this vicinity have got to be more reasonable.

This stinks!

Great suggestions brainiac, add Coney Island too. But yeah, I think a chain restaurant would make for a nice mix, not too many, just one or two. A Trader Joes would be amazing. But that'l never happen.

[fakie]

Originally Posted by fabumom07

This stinks!

Great suggestions brainiac, add Coney Island too. But yeah, I think a chain restaurant would make for a nice mix, not too many, just one or two. A Trader Joes would be amazing. But that'l never happen.

A Trader Joe's or a Whole Foods ANYWHERE in the Fort Wayne area would be sweet. I sorely miss Whole Foods after my move.

[brainiac138]

supposedly there were plans for a Whole Foods in the SW side, I believe at Time Corners. But, all that had to go on the back burner when the economy tanked.

A Trader Joe's would be fantastic. I lived in Chicago for several years, and am currently residing in LA, and will be back in the Fort for a few months, and I am gearing up for the change in scenery, mostly in regards to my shopping. I have stopped in to Trader Joes about every other day for the pass 3 years.

[wh15395]

I don't know why there are no Trader Joe's in Fort Wayne. I just moved to Indianapolis from the Fort and I have no idea why there are not any.

[brainiac138]

In regards to Whole Foods and Trader Joe's, Fort Wayne is very divided by the majority who shop at established, though horribly managed, industrial chain stores such as WalMart, Target, Kroger, and Meijer, and the very small minority that shop at the smaller stores, or even the Three Rivers Co-Op and go out of their way to support local businesses. While larger cities have room for the middle area, which is chain industrial organic/healthier food stores like Trader Joe's and Whole Foods, I think Fort Wayne is just a little too small to be on their radar. Also, the areas that would probably support places like Trader Joe's are also areas hit fairly hard by the economy and, at least on my last visit about 6 mos ago, seemed to be pretty stagnant in terms of growth.