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photo from antwerpenR, flickr.com
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Retail up and down Bedford Street has always been a mystery to me. Some storefronts languish for ages. Others house stores where - I swear - I've never seen anyone enter or exit. With the throngs of people at some of Bedford's restaurants, why aren't there retail customers as well?
I got a bit of a clue about why some stores remain empty when I spoke to a friend of a friend who is opening a coffee shop. She explained that she'd love to open it on Bedford or Main, but she simply couldn't afford it. She estimated it would cost $6,000/month to open up shop there. She told me it was cheaper to open her store in Greenwich or Darien. Really?!? Clearly the rent is more than the market can bear since so many locations remain unclaimed. Isn't it in the property owners' interest to lower the rent until the spaces are filled?
The good news is that Stamford Downtown has developed a plan. Their 2011 Retail Advancement Program will award up to $50,000 from Stamford Downtown plus a $50,000 landlord contributions - which are paid through tenant improvements and other concessions (what that means, I couldn't say...). Retailers who sign on would have to agree to a 5-year lease. Only those selling
products are eligible. In other words, no restaurants, no entertainment, no banks, no printers and no copy places. Available retail spots are street level within the Downtown Special Services District.
I'm glad to see that landlords are pulling their weight to help make this community better, and I'm thrilled that Stamford Downtown recognizes that reinvigorating our retail offerings is a worthwhile investment. Maybe all the bloggers (myself included) who have been waxing poetic (aka, complaining) about what we WISH were on Bedford might see a few things fall into place. A girl can dream...
For information about the 2011 Retail Advancement Program, contact Jacqueline Wetenhall, Director of Retail Development for Stamford Downtown at 203-348-5285 or visit the
website.