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NEWS

Retail missing in city's center

Monday, August 25, 2008
(Updated 5:25 am)

GREENSBORO - A consultant hired to assess downtown's retail capacity calls the center city "the region's premier crossroads."

He said downtown typically attracts more than 10 million people a year, a number that compares favorably with a regional mall.

"Downtown is a very robust area," said Blount Hunter, president of H. Blount Hunter Retail & Real Estate Research in Norfolk, Va. "I think you are starting off with a good base of users."

Hunter's retail analysis, commissioned by Downtown Greensboro Inc., showed that the center city generated an estimated $43 million in consumer sales last year.

That number included sales at bars and restaurants but not downtown's three hotels or lone car dealership.

The good news, he said, is that those who visit, work, shop or live downtown had the potential to spend $118 million. That's a gap of $75 million.

He said the area lacks the number and mix of shops to meet the existing demand and needs to create a unique retail niche along South Elm Street.

He said that downtown isn't ready for a national retailer, or anchor tenant. He added that he hopes the area never gets one.

"That's not my definition of success," Hunter told a group of merchants, developers, elected leaders and city officials last week.

"Build a base of local merchants who are unique and who can co-exist with Friendly Center."

Hunter said downtown retailers should target current patrons - workers, college students, residents, visitors - for increased spending.

He said local residents make 24 trips a year downtown, primarily to dine, shop, go to the courthouse or library, visit an art gallery or museum, or attend a festival or baseball game.

The things they liked about their visit included the restaurants and bars, entertainment events and festivals.

Dislikes included not enough parking, traffic congestion and a lack of retail stores.

Hunter addressed the mix of downtown businesses, noting that a downtown should not include more than 60 percent restaurants and bars.

"You are more like 80-20 or 90-10," he said. "You need to have a better balance."

His recommendations for closing the downtown spending gap included one that called for the first six blocks of South Elm to serve as a "priority retail zone," an area that favors shops in ground floor spaces rather than bars, restaurants and offices.

Downtown merchants interviewed after Hunter's presentation said they liked what they heard.

In the past, they said, the emphasis downtown has been on residential and office space.

"I was primarily impressed with the general agreement that the city and other organizations need to pay more attention to retail," said Gary Brame, the owner of Jules Antiques & Fine Art at 530 S. Elm St.

"It's a good step in the right direction."

Contact Donald W. Patterson at 373-7027 or don.patterson@news-record.com

Accompanying Photos

News & Record (News & Record)

Photo Caption: Downtown Greensboro's skyline.

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