Archive for February, 2008
Fabulous Friday Finds- Weekend Plans
Is this you? Because this is me. If you’d like to make weekend plans with me and my husband, just let me know.
Blue Back Part II? Redeveloping Bishops Corner
Just what is going on in the West Hartford neighborhood of Bishops Corner? First, Barnes and Noble closed and opened a new chapter at Blue Back Square. Then, Petco (Supplies & Fish) ran away. Finally, the Macaroni Grill said ciao after their lease wasn’t renewed. You don’t need to have a PhD in development to surmise that someone has plans for the area. Why else would you turn away a productive, paying tenant when you already had 2 vacant stores of substantial square footage? The landlord is still paying taxes on those properties, even as they sit vacant…
So, it was really no surprise when the Courant reported this morning that the developer, Edens & Avant, is expected to unveil major redevelopment plans as early as this spring. Apparently the firm is in preliminary talks with town officials and the project is leaning towards a walkable town center feel, with 1 or 2 large tenants, and the remainder of space being filled with smaller shops. Rumor has it that the project could cost as much as $100 million. Sounds kind of like Blue Back Square, eh?
Here are some thoughts from my end…
1. Kudos to Edens & Avant for working with town officials on the plan. I’m sure the town has a whole dumpster of “lessons learned” from the Blue Back development, so collaborating early will probably save both sides some work and contenscious discussions later on.
2. How will this development complement what has already been built at Blue Back Square? How much business will it cannibalize? What about West Farms and Elmwood?
3. Will this new development further hinder downtown Hartford’s efforts to attract buyers and renters, revitalizing housing and retail in the city center?
4. People in West Hartford are already rumbling about a difficult budget season. Will another substantial retail development help offset the tax burden on home owners in town?
5. And the question on everyone’s mind…who is going to pay for this? Will the town need to issue more bonds?
Hopefully when the plans are unveiled this spring, it will be an aesthetically pleasing, walkable development with stores that cater to a variety of income levels. We’ll keep a close eye on this one…
Downtown Hartford Living: Here Come the Groceries
The development of downtown Hartford is always of interest to me because I work with clients that contemplate living in the city versus the ‘burbs. Today, the Courant provided some insight on the build-out of the grocery store in the Hartford 21 building on Trumbull Street. Soon, I will finally have a better answer to, “Where is the nearest grocery store?” when asked by a customer. At this point I tell them 3 options, Wethersfield, the western edge of Hartford, or West Hartford. All require them to get in a car and drive. There is no real walkable option if they choose to buy or rent in downtown Hartford. This, coupled with the fact that there is a dearth of other retail shopping downtown, typically leads them to focus their search in the suburbs. As a resident of Hartford, I find this frustrating.
As the article points out, what we really have going on here is the chicken-and-egg dilemma. Retailers don’t want to invest in a space where there is not a substantial residential base to support their stores. And residents don’t want to invest in housing in an area where there is a lack of even the most basic necessities. In this case, no grocery store and *gasp* a Starbucks with limited weekend hours. Eeek!
So, kudos to developer Lawrence R. Gottesdiener for sinking $2 million of his dough into the store build-out when the agreement with Bliss Market didn’t work out. I, and I’m sure all of the residents in downtown Hartford, will anxiously await the announcement of who will operate the store.
On a side note, I found one quote striking and it caused me to wonder, is downtown Hartford being rebuilt to attract only, as Gottesdiener was quoted as saying “…the affluent…the sexy people, the wealthy people.”
Doesn’t this severely limit the size of the pie of who can afford to buy or rent in downtown Hartford and consequently support a retail base? Wouldn’t stores be more inclined to open in an area where there is a diversity of housing/rental prices, not just high end, because it would mean the potential for a wider range of customers? It seems that the chicken-and-egg dilemma is exacerbated when the target market is so focused.
Just some food for thought…