Quote:
Originally Posted by esquire
Like I said, having worked for a company headquartered downtown, I was surprised to see how much money was spent on goods and services downtown. Those types of companies spend the kind of money needed to sustain other businesses, and they employ enough people to help keep cafes, boutiques and restaurants afloat.
It is downright absurd to say that the all people who spend 40 or more hours a week downtown plus their money for lunches, services, various retail purchases, on top of all the money spent by the companies based downtown are somehow trivial or irrelevant.
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I agree that we should be wary of thinking of residential growth as the be-all and end-all for downtown. Residents alone, even large numbers of them, don't actually sustain all that much activity. Think of how utterly dead Broadway is outside of business hours despite the large residential population there -- and, conversely, how lively the Exchange has gotten despite its relatively small residential population.
But I still think that a residential tower at 300 Main is a win, though, because the mix in that area is already weighted so heavily towards offices. Another office tower would surely be an economic positive (if there was enough demand to fill it), but I'm not sure that it would do anything to transform the vibe there, given that it's just one more of something that we already have lots of. Whereas a residential tower or two could truly change the way that the area feels.