Are they gonna put sprinkles on that Texas Donut?
That retail spot will be hoppin’ with all the apartments right there. I’m really interested to see what goes in that spot. Almost anything should kill it there.
Especially since it’s the only 5-over-1 in this 4 block radius that actually bothered to include any ground floor retail, I agree. I think in 10 years time (or less) those other 5-over-1s (Metropolitan and the other one) will be seen as shortsighted, missed opportunities
I generally would agree with this but in the current retail climate I think it’s ok. There is plenty of retail space surrounding this area with Pendo building, Bloc 83, Glenwood South and Smoky Hollow which are largely empty. My hope is that all of this additional residential without retail will help support businesses in the surrounding blocks.
Hopefully it isn’t just a nail salon and a charles schwab or something. But anything is better than nothing.
Urban retail at large projects like the ones you listed is a challenge. Because of the balance sheets and focus on yield, they prefer tenants with long-term leases and stable, high-paying rent. This often favors national chains, as they can guarantee financial security which banks look at when refinancing a building (a bunch of triple AAA tenants gets more credit then no name shops). Unfortunately, this dynamic really prevents smaller, local businesses that may not have the capital or certainty to secure such leases as well as tenant upfit cost.
It’s a good day. I will take it.