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George Nemeth · Remember that retail economic development strategy?
December 30th, 2008
Fugedaboudit:
“Davidowitz estimates retailers will shutter 12,000 money-losing stores in 2009; Beemer predicted that half of today’s retailers will be in big trouble — perhaps at risk of shutting down — next year; Freed believes 20 to 40 retail chains will go out of business in the first three months of the new year, and Niemira predicts 73,000 retail locations will close in the first half of 2009.”
via CEOs for Cities :: Blog, View Entry.
Last 5 posts by George Nemeth
- My letter to the Brad and Joe show - June 10th, 2011
- Creating Conversation - June 7th, 2011
- Justin Bibb on CLE and DET - August 23rd, 2010
- Cleveland International Film Fest Year 34 - March 18th, 2010
- A tale of town city workers - February 8th, 2010
December 30th, 2008 at 7:14 pm
At least our brand new abandoned strip mall ‘blight’ around the region will look nice for a few years as it decays. Might have been a bit cheaper to simply paint the old blight.
December 30th, 2008 at 10:31 pm
Northeast Ohio Regional Retail Analysis:
http://snurl.com/9ad0d
“There are more than 37 square feet of convenience and shopping floor space per capita in the region. While there are no national figures available for an exact comparison, the amount of floor space per capita for shopping centers typically is in the 20 to 30 square feet range in other metropolitan areas.”
“The region is saturated in the convenience and shopping goods categories by more than 6 million square feet.”
“The 79 million square feet of space devoted to convenience and shopping goods and services in the region exceeds the demand by more than six million square feet.”
December 30th, 2008 at 11:09 pm
Makes you wonder where the CEO of our city is.
December 31st, 2008 at 1:26 pm
This is what happens when a state allows/requires communities to fend for themselves economically. Our land use has increased about 60% over the last 30 years while our population has stayed pretty flat. Development sprawls as communities chase tax dollars, and each city plans as if they’re not surrounded by others chasing the same dreams. Regional planning, greater state aid to local gov’ts/schools and revenue sharing may help us get out of this mess, but it’s been building for decades and it isn’t pretty. And it will take some long-term thinking – something that the present system doesn’t encourage.