Quote:
Originally Posted by Syndic
What economic realities of development make it so they can't have ground floor retail throughout rather than just on one street? Do you think there's not enough businesses that want to be located in Mueller? This was supposed to be a commercial district but it it's only on one street, that's more like a neighborhood to me.
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The economic realities are that residential lease rates are generally better than retail lease rates, except for when there is a concentration of retail that makes it a destination for shopping and entertainment. Trying to achieve that level of concentration is risky. Developers only include ground floor retail in VMU when it is required or they are wanting to add an amenity to the project, but it takes a lot of residential to support just a little bit of retail. The whole retail real estate sector is very volatile and the future in uncertain due to Amazon (remember Toys R Us?). Ground floor retail often takes several years to lease up after a project is complete. Then you have boarded up store fronts instead of friendly neighbors waving at you from their front porch. You are right - Mueller is a neighborhood, but one that is unlike any other in the city.
Full Disclosure: I live in Mueller and love it, even though it is far from complete and the trees are tiny. I get a little defensive when people criticize Mueller because it is an amazing project that is being studied by cities around the country and even the world. It isn't perfect, but we are very lucky to have it, and I am even more lucky to call it home.