Thursday, August 16, 2012

Depressed But Not Forgotten

Downtown has seen better days, but perhaps it's just going through a phase.
In 2009, there was denial, when landlords continued asking for gilded-era rents, despite the lack of interested renters. In 2010, there was acceptance, when tumbleweeds could be glimpsed in empty storefronts and salespeople became uncommonly friendly. In 2011, there was bargaining, when designers, sensing an opportunity, pounced on leases with what, in retrospect, turned out to be rock-bottom rents.
Laredo's business district will never be trendy Madison Ave.  The best it could hope for is to have a national chain store be its anchor.  However, if rents get competitive, new, younger investors could be lured into the area to breathe some life into it.

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