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Urban Outfitters was announced as a retailer at the upcoming Dillon tower project under construction in the Warehouse District in downtown Raleigh. It looks like there might finally be some momentum for national retailers to augment the independent businesses that have opened in the city center over the last decade or so. With several new projects about to break ground nearby on the west side of downtown, it will be interesting to see what is to follow at nearby One Glenwood, 400H (Hillsborough St.), 301 Hillsborough and Smokey Hollow in the next few years.
eventually the national retailers will take over the independent businesses downtown if downtown Raleigh continues to grow. Increased rent will mean that independent stores can't afford to stay in business while national retailers can.
Not a big fan of Urban Outfitters (they have a nasty habit of appropriating designs not of their own but selling them as such) but if it helps draw other businesses to the Warehouse District then I suppose that's something I can support. At least it's not a Spencer's Gifts or something but I'd like to think at some point we can do better. (Ahhhh... like a decent full-service grocery store)
[EDIT: BTW, before any mentions the Kroger store planned for downtown, I ran across this from the Memphis Business Journal:
“Nationally, The Kroger Co. has reduced new store developments. Those capital expenditures are now focused on the customer experience plus, digital and technology initiatives. We are optimistic about the future of our new Arlington Marketplace Store. However, at this time, the project has been delayed until further notice. We apologize for the inconvenience. Kroger will continue operating its current store in Arlington, and we will provide updates to Arlington city officials regarding the progress of a future Marketplace Store.”
A quick glance at my Kroger stock portfolio offers an explanation why they are cutting back on CapEx expenditures ]
eventually the national retailers will take over the independent businesses downtown if downtown Raleigh continues to grow. Increased rent will mean that independent stores can't afford to stay in business while national retailers can.
eventually the national retailers will take over the independent businesses downtown if downtown Raleigh continues to grow. Increased rent will mean that independent stores can't afford to stay in business while national retailers can.
Rent increases downtown have been forcing places out (or under) for awhile now, even without the addition of a lot of national chains
Rent increases downtown have been forcing places out (or under) for awhile now, even without the addition of a lot of national chains
I think it would be interesting to keep a list of business that have been gentrified out.
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