Quote:
Originally Posted by the urban politician
^ Things like bus only lanes are more of an urbanist's pet project than anything else. They do not practically solve a problem for building owners on the Mag Mile. Nobody on the Mag Mile is upset because people can't get to the Mag Mile. That's never been a problem.
The entities that own property in and around the Mag Mile will need to state what it is, if anything, they need from the city. Sounds like they want more security after that crap that occurred last summer (  still furious about that) and assurances that roving bands of looters won't smash windows en masse again.
Second, they need to figure out what kind of commercial space can and will pay the rent. I definitely don't think they care about bus lanes, and the sidewalks are already wide enough on the Mag Mile--in fact, they are gorgeous!
But you and I are in agreement on one thing--"experiential retail" is probably not going to be enough |
I think they're gonna have to pivot away from a tourism orientation as tourism to big cities will be depressed for years to come. That probably means converting some hotels to efficiency residential (maybe in such a way that they can be converted back to hotel in 5-6 years). As for the retail... I don't know what can possibly compete with flagship retail for rent/SF, so the owners of those buildings have a problem. Any conceivable reuse will mean a significant drop in income. But retail faces structural issues beyond the temporary Covid problem (online shopping mainly) so I don't think the retail landlords are just gonna hold out for better times, they're gonna have to adapt.
The city can help this to some extent with a 5-year or 10-year tax abatement to soften the blow and make it easier for owners to repurpose. Maybe you can tie the tax break to an income restriction on any new apartments to 120% AMI to get more middle-income people to live downtown and make it less of a rich person's playground.
I do think bus lanes on Michigan are important, although maybe not a complete pedestrianization. Michigan is already a major bus corridor so a dedicated lane would benefit thousands of existing commuters. And a pivot away from tourists means a pivot towards locals, who need to get in/out of that district without relying on expensive taxis like tourists do. A frequent circulator bus route would also help local residents by improving access to groceries, amenities, and rail stations without a long walk.