Originally Posted by
esp1986
I do think there is a bit of a demand, but for the right store... a Target would never survive downtown, not without more people living there... I realize that people have to leave downtown to get anything, but that is because there is not enough people downtown to support anything like that... Macy's, however, would be a different story. Macy's is more of a destination for people outside the city... much like Hudson's was. When I say there isn't demand, I say it in an economic sense, as in there is no demand at the prices available... in economics, there is no demand at high prices, and that is what we see, high prices per square foot, and as a result, no demand... if the prices were more advantageous, there would be a lot more investment and a lot more stores and people in general downtown...
the bottom line, there need to be more people downtown, and the way that will happen is with landlords dropping their prices... personally I would rather rent at a lower price and have full or even some occupancy than not rent at all... but I am an economist and an accountant, so I think differently than most of the greedy landlords downtown.