Originally posted by
Brigham Yen
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In Downtown LA, there is no better ideal situation for retailers than the Historic Core on those three streets because they were built for pedestrians with back-to-back, pretty much uninterrupted commercial spaces.
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When I would walk the streets of DTLA, I always envisioned Broadway as developing into a La Brea circa late 90s and 7th Street becoming high end retail.......not high, high end but stuff like Nike's or Banana Republic. I always saw the Bank District as a potential Soho.
Restaurants tend to be urban pioneers that are low margin affairs even if they serve alcohol. Typically, they are the first wave into a commercial strip that has the potential to turn around. That was 7th Street a few years back and the restaurants are doing what they typically do.....bringing new life to the street.
However, I don't think this is the final configuration for 7th. It really lends itself to retail. Macy's could be a formidable anchor.....esp. if the damn building is renovated and opened up to the street. The old Robinson's store could be another anchor.....with its high ceilings......the upper floors could be turned into a mid rise mall or offices. Then there is the old Bullock's store at the corner of 7th and Broadway. What's happening with it?
Given the greediness of LA landlords and their propensity to take advantage of a street that's turning, I don't see restaurants staying long term on 7th. I bet in ten years more and more retail will be on 7th and it will act as a connector between Fig@7h and Broadway. FWIW.