New retail slow to move into Downtown (Philadelphia, Smithfield: hotel, buy)

[Craziaskowboi]

Originally Posted by Mtl-Cns

The comment in the article about retailers being hesitant to open downtown due to a lack of concentrated space for multiple storefronts so that they can be near each other downtown like in New York, Philadelphia, or Boston is interesting and true.

That and the fact that the nighttime population isn't there yet have to be the biggest reasons for the lack of retail growth downtown. I remember reading last year that the cost per square foot of retail space in downtown Pittsburgh was similar to Cincinnati, Cleveland and Columbus, but the profit per square foot was similar to Boston, Chicago and Philadelphia, so it's not a matter of economics. It has to be something else.

[UKyank]

Originally Posted by Craziaskowboi

That and the fact that the nighttime population isn't there yet have to be the biggest reasons for the lack of retail growth downtown. I remember reading last year that the cost per square foot of retail space in downtown Pittsburgh was similar to Cincinnati, Cleveland and Columbus, but the profit per square foot was similar to Boston, Chicago and Philadelphia, so it's not a matter of economics. It has to be something else.

I actually find this hard to believe unless it was just considering drug stores?

Trying to think retail that's available that would be doing so well?: Department stores have done notoriously poorly Macy's doesn't do all that great sales wise, Saks didn't, (of course Lord & Taylor & Lazarus shuttered things but I'll overlook that given the time frame); Burlington Coat Factory; some fur place, Brook Brothers & a couple of high end men's clothing that probably do decent business; a handful of places that never seem to make it in One Oxford Center & Fifth Ave Place; most of the jewelry shops in the Clark Building are no longer; Office Depot & Barnes & Noble shuttered on Smithfield; the army navy store; The Exchange (video games), GNC?

I dunno, I just can't think of anything that is doing anywhere near the amount of business as stores in Chicago for example.

[steeps]

Again.... the reason is so tight of streets and not enough big enough lots in a FULL RETAIL STREET, THAT IS NOT one way.
The Big guns of retail WANT a space big enough to have a good sized STREET store Front. Philly lacks a premier shopping street that the ALL want a piece of? As for example Chicago had and they ALL built BIG street level Stores on. Its Bloomingdales is brand new. Its Neiman Marcus is 10+ years old, Its Saks is less. As is its Zara pretty new and Large in a new building.
That is what they want in Downtown Philly. They would come.

https://www.google.com/maps/@41.8946...!6m1!1e1?hl=en

https://www.google.com/maps/@41.8957...!6m1!1e1?hl=en

https://www.google.com/maps/@41.8957...!6m1!1e1?hl=en

[Craziaskowboi]

Originally Posted by UKyank

I actually find this hard to believe unless it was just considering drug stores?

I found the article, but I guess I misremembered it somewhat. It only talks about restaurants. The price per square foot compares to Cincinnati, Cleveland and Columbus, but the profit per square foot compares to Boston, Chicago and Philadelphia. In that case, it's no wonder there's been a bit of a restaurant boom downtown in recent years.

[doo dah]

It must be really hard for all those poor, poor Brooks Brothers shoppers to come downtown rather than go to the mall. And Walnut Street? Banana Republic? The Gap? J. Crew? They must be losing money hand over fist.

[Blackbeauty212]

Originally Posted by steeps

Again.... the reason is so tight of streets and not enough big enough lots in a FULL RETAIL STREET, THAT IS NOT one way.
The Big guns of retail WANT a space big enough to have a good sized STREET store Front. Philly lacks a premier shopping street that the ALL want a piece of? As for example Chicago had and they ALL built BIG street level Stores on. Its Bloomingdales is brand new. Its Neiman Marcus is 10+ years old, Its Saks is less. As is its Zara pretty new and Large in a new building.
That is what they want in Downtown Philly. They would come.

https://www.google.com/maps/@41.8946...!6m1!1e1?hl=en

https://www.google.com/maps/@41.8957...!6m1!1e1?hl=en

https://www.google.com/maps/@41.8957...!6m1!1e1?hl=en

Chestnut and Walnut Streets in Center City Philadelphia are "Premier" Shopping, and the both are Narrow One-Way going in opposite directions of each other, it's like an Outdoor Mall from Broad St to 20th ... This is what Smithfield and Wood Sts in the Burgh should be.

[PghYinzer]

I ride the bus daily and I think that using Smithfield and Wood as bus corridors are a major deterrent. My stops are on both of those streets and I think it is still a problem. Nothing will ever look good along there as long as there are masses of people smoking on every corner and buses clogging the streets. Between the rundown/closed storefronts, litter, and the smokers, Smithfield Street is probably one of the most disgusting streets in the city. Move the buses to the outside ring of downtown, perhaps install a trolly like loop from 4th Avenue to 6th circling around Wood and Smithfield for those who cannot handle the walk, and plant trees on both streets.

[phatty5011]

What about along Forbes and Fifth in Uptown along with the new developments of the lower hill as the shopping district. Bring reasons to head over to that part of the town.

[wpipkins2]

Originally Posted by PghYinzer

I ride the bus daily and I think that using Smithfield and Wood as bus corridors are a major deterrent. My stops are on both of those streets and I think it is still a problem. Nothing will ever look good along there as long as there are masses of people smoking on every corner and buses clogging the streets. Between the rundown/closed storefronts, litter, and the smokers, Smithfield Street is probably one of the most disgusting streets in the city. Move the buses to the outside ring of downtown, perhaps install a trolly like loop from 4th Avenue to 6th circling around Wood and Smithfield for those who cannot handle the walk, and plant trees on both streets.

The Smithfield reconstruction would add trees and safety features to the street. Trees, brick crosswalks, and lighting will be part of the makeover. Smithfield is the last major thoroughfare in downtown to receive a make over. The new hotels around Mellon Square along with the Saks and 500 Fifth developments will eliminate blight in critical areas.

[bluecarebear]

Originally Posted by tclifton

Pittsburgh Magazine says that if you want retail, head north!

Shopping for Something New? Why You Should Head North - The 412 - June 2015

I kept telling everyone about the explosion in development on N.McKnight and people didn't get it.