Quote:
Originally Posted by scryer
Up a little further North, and a little further West in the Vancouver, BC Canada forums we were discussing and speculating on how small businesses seemed to be able to thrive in NYC despite its land shortage driving up rents and commercial space expenses. |
Well, that's a misconception. There has been several news articles about the business gentrification of NYC. Many small businesses are being forced to close due to rising rents and property owners have been opting to keep the storefronts vacant in hopes of attracting china retail like a starbucks or bank branch than lowering the rents. It has lead to sterilization of some of the city.
Empty Storefronts Jolt NYC Council Into Action on Small Business
https://www.bloomberg.com/news/articles/...rompt-council-push-to-aid-small-business
What Could Kill My New York Bookstores?
It won’t be Amazon or the coronavirus. It will be artificially high rents.
https://www.nytimes.com/2020/05/29/opinion/coronavirus-small-business-rent.html
Empty Stores Are Killing New York City.
For decades, the city has mulled rent control for small businesses. As the city’s wealthiest areas fill with vacant shops, lawmakers are taking another look.
https://www.citylab.com/equity/2018/10/vacant-storefronts-nyc-commercial-rent-control/574069/
SkyscraperPage Thread from 2018 on the topic
https://skyscraperpage.com/forum/showthread.php?p=8350608