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Harvard Square in Cambridge, MA, has trended towards being one of these places in recent years. Restaurant or other long-standing business can no longer afford
by karmelapple 6y ago
Harvard Square in Cambridge, MA, has trended towards being one of these places in recent years. Restaurant or other long-standing business can no longer afford the rent, and it’s either replaced by nothing or a bank. It says the lifeblood out of the area.
From what I understand, the owners of the buildings are holding out for the high cost renters... like a bank.
A city government could provide incentives to ensure these places don’t sit vacant, and that formerly thriving areas stay interesting and have shopping for most people, not just those with massive wallets or looking for a bank.
- galago 6y agoHarvard Square isn't a good example because Harvard owns so much of the property. That's why Davis/Porter/Central all have liquor/wine stores but Harvard doesn't. Businesses exist because Harvard allows it--not a free market within that limited zone.
- wendyshu 6y agoIsn't the lack of rent already an incentive to not let places sit vacant?