Quote:
Originally Posted by ardecila
...There's definitely room for improvement on Broadway, but there's a pretty great tapestry of long-time independent businesses - bars, shops, restaurants - that can stay there because of the old depreciated real estate. All those one-story buildings are owned by landlords who care more about cash flow than about getting a national credit tenant, so they're happy to rent to anyone who wants to set up there including immigrants and young entrepreneurs.
Those indie businesses help make the neighborhood one of the most desirable and walkable in the city. Too much redevelopment will kill the street life. The best case scenario is that you end up with a lot of chains, worst case is that you end up with a ton of vacant retail space sucking the life out of the neighborhood.
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So much this! As I was walking down Halsted and Broadway this weekend I was very much thinking about this. Across from the Optima building there is a one story strip of shops that I think has been fully rented since I have lived in Lakeview. 32 years. The building is nothing to look at but small businesses have filled it and contributed to the vibrancy of the neighborhood. Lakeview is full of these smaller buildings, most topping out at 3 or 4 stories, that really make for great neighborhood. When the new buildings are built the retail so often sits empty, too expensive for small businesses.