Tuesday, January 31, 2012

Commercial District News - 1/31/12

Old Downtown Pontiac, MI Sears To Become Lofts, Shopping [CBS News, 1/29]
Developers in Pontiac, MI develop a mixed-use proposal for an old Sears. The $19.8 million project is funded by a variety of public and private sector funding sources, including the State of Michigan Neighborhood Stabilization Program 2, federal New Markets and Historic Tax Credits, state historic tax credits, and brownfield tax credits.

Is high turnover for downtown Ann Arbor restaurants concerning? [AnnArbor.com, 1/29]
Is a high churn rate among restaurants in downtown Ann Arbor, MI due to current economic conditions or a long term trend by consumers away from downtown? In this article, one restauranteur attributes "the decline in traffic downtown and the struggling business at his restaurant to several things: parking rate increases, competition in the restaurant business, the delivery business, economic factors, construction projects and Borders’ closing."

From serious to silly, Corona del Mar Business Improvement District discussed at meeting [Corona del Mar Today, 1/27]
At a recent downtown event, the Improvement District solicited feedback from visitors on ideas for downtown improvements by placing a giant map with red Sharpies out for comments. Ideas included reccomendations to turn some streets one-way, landscaping in medians, bike lanes and more...

Jack Gosnell: The Urgency for Urban Retail [D Magazine, 1/30]
A commercial broker reflects on the urgency of attracting young future urban dwellers to downtowns after hearing a talk by Carol Coletta president and CEO of CEOs for Cities.

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