Quote:
Originally Posted by Illithid Dude
As I have said on your website, right now Downtown has an unsustainable amount of restaurants either already in place or being built out right now. As the lesser of those restaurants start to go out of business, there will be new vacancy where retail would be able to go in. And don't worry, I notice plenty of vacancy along Spring and 7th as it is. Even right across from Bottega Louie there is a giant empty spot, easily a prime retail location. Between the two entirely plausible scenarios I just presented, I would think that retail would stay in what is the current hub of downtown, not go and create a new hub like the Olive St. you propose.
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Downtown LA is far, far from having an unsustainable amount of restaurants in relation to the amount of people that live, work, and play downtown (figures point to about half a million on a busy weekday). And you're talking about an unique area with the rail infrastructure to funnel in thousands and thousands more (especially USC students once the Expo Line opens). Hell, there are more restaurants in Monterey Park alone, which is about the same size as Downtown LA in terms of resident population (I think MPK has about 60K people). Downtown LA will become a regional draw and at this point there isn't enough of ANYTHING
(except bars/nightlife) to make it stand out among the satellite cities such as Santa Monica, Pasadena, Beverly Hills, Glendale, West Hollywood, etc. All these satellite cities have more concentrations of restaurants and definitely retailers than DTLA.
Downtown LA has plenty of room to continue to grow and infill with new restaurants as it is still sparse and spread out. What will happen of course are restaurants that don't have a concept that is accepted by the local population, such as Eco-Asian, and will fail as a result. However, most restaurants that go out will attract new restaurants because of the very expensive infrastructure that exist within the space (the hood, grease interceptor, venting, etc.), so unlikely to be replaced a retailer. What downtown does need is to diversify the restaurant choices offered in such a diverse metropolitan region.
Currently there is no hub of retail because there is no retail generally speaking (except for a few popping up on Spring Street). The first major retail project will be FIGat7th, which will create an interesting situation since there are no empty commercial spaces to capture the "spill over effect" nearby, which is why I surmise that Olive St, Hill St, and Broadway will become the true retail hub of DTLA. Remember, retailers LOVE to be back-to-back to each other as seen in Old Pasadena, Third Street Promenade, Soho, 5th/Park Aves, 16th Street Mall (Denver), etc. 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.
Also I am not aware of any large vacant retail space across from Bottega Louie? Are you talking about the old Okada space? And is one or two empty retail spaces on 7th Street enough to become a retail hub? How many retailers are in Old Pasadena alone? 50 or more perhaps?