Quote:
Originally Posted by jmecklenborg
What's upsetting about recent news is that event the cities with robust public transportation are losing their downtown departments stores. For example, the Downtown Crossing subway station in Boston had a direct entrance into their Macy's and also Filene's (if I remember correctly). Around 2000 or 2010 you could easily assume that the cities that were keeping their old department stores were doing so because it was easier for the city's residents to reach them by subway than it was to drive to suburban malls.
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You're generally right, but I'm not sure the situation is extinction-level dire.
Downtown department stores, excepting a few cities, aren't doing great. But downtown retail, as a whole, doesn't appear to be doing that poorly.
NYC is basically entirely recovered from pandemic. Retail is as strong as before-times, and the department stores, high streets and malls are generally extremely busy. Fifth Ave. and Soho during holidays seem more crowded than beforetimes.
In Boston, Downtown Crossing area has clearly suffered, but it was declining pre-pandemic. Newbury Street and the Back Bay area seem completely recovered. In DC, downtown retail is possibly better than beforetimes, as there's a successful large newish luxury retail complex, and DC wasn't great to being with.
In Chicago, Michigan Ave. seemed mostly recovered, but two of the three malls are clearly struggling, but the third seems very healthy. The crowds are back. And neighborhood luxury retail seems fine.
Haven't been to SF in recent years, but per 2024 Streetview there's still tons of luxury retail near Union Square. Maybe SF loses its department stores, but luxury downtown retail will probably remain. Look around Post Street, Maiden Lane, etc. SF is uniquely challenged, but still has lots of multilevel flagship luxury stores.