Broadway Retail Only Part of the Problem
This week's LA Business Journal runs a piece on the changing nature of Broadway. The story that's painted is of good-hearted property owners are doing what they can to make the neighborhood better, but are held back by the great difference in rents between Broadway's current tenants and the kinds of stores many wish the street would attract.
For years the mercados between Second and Eighth streets have been known as a primary Hispanic shopping destination. Particularly on weekends, they bustle with thousands of shoppers, who buy jewelry, food, T-shirts and knick-knacks. Business is so good, in fact, that merchants there pay rents as high as $10 per square foot per month – about the same as rents along the famous Third Street Promenade in Santa Monica.
But as the long-underused space above the mercados is being adapted into higher-end residential, the same landlords feel pressure to bring in national coffee shops, book stores and the like to cater to the professional class that’s moving in.
Problem is, the national chains are not willing to pay those high prices because their sales per square foot are not as high as the mercados. Also, the chains aren’t sure that the downtown renaissance is mature enough for their arrival.
The article does not mention how many Broadway buildings have been left to rot while their owners kept charging that great ground-floor rent. The bill to clean up Broadway's disrepair is going to involve far more than just varying up the retail scene a bit. While scattered projects like the Eastern Columbia and Chapman are great starts, it's quite a mountain still left to be climbed.





TakamiSushi
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I'm a huge fan of downtown's renaissance when it means that disused buildings and once-vacant streets are transformed into upper-middle-class housing units and the attendant goods and services that follow. I know I've been the beneficiary of that, living in downtown and being able to walk to several new bars and restaurants in the area. It's an energized downtown core, and I find it a very exciting place to live.
That being said, I am dead set against the idea of moving out traditional, viable retailers in favor of bringing in higher-end retail for loft-dwellers. The downside to gentrification, any sociologist will tell you, is the forcing-out of the original, lower-income tenants. The best Californian example of this is the Mission District in San Francisco and, before that, the Castro area, where low-income families were once able to live in proximity to the places where they worked. Forcing out current residents just to put in a Starbucks (and asking very successful businesses to leave in order to put in a far less successful venture, just because rich folks want a coffeeshop and not a mercado) would disenfranchise successful Hispanic businessmen, force people from a place they've legitimately made their own, depress business in the area (let's face it; Broadway's mercados are the busiest businesses in downtown on a per-capita basis) and would force individuals who are less likely to own cars out of the local area where they work.
I am not totally against gentrification, as I said, but it comes at a cost when it starts to encroach on perfectly good neighborhoods that don't happen to be made up of the type of people the wealthy loft owners want to see. It's an old, uncomfortable pattern, and people tend to look the other way while the lower class families are pushed out. Well, in this case, they've made themselves very successful, and have been faithful to downtown during times where the rest of us fled. Asking--or forcing--them to leave now is unjust. Further, it risks looking like nothing short of socioeconomic bigotry.