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PrintStrike while the iron is hot
Paving the way for downtown development.
As you may have noticed, there is a lot going on downtown. Construction on the new baseball field is well under way. The Mayo Hotel is about to reopen. New restaurants are springing up left and right. And there is much more to come.
But some remain apprehensive. Rather than make a risky (not really) move by setting up camp in a burgeoning market, many companies would rather wait until others have paved the way.
Yet what they do not realize is that it is always better for the ones who blaze the trail than for those who follow behind. And not just philosophically; there are financial reasons to boot.
As it stands today, rent for commercial spaces in downtown is ridiculously cheap compared to similar markets. And with every new business and moneymaking event (sports, concerts, etc.), that rate will soon begin to creep higher and higher.
Beyond the price of the spaces, the prime locations that remain will soon be scooped up. Location, location, location. It’s not just a saying.
It remains to be seen whether the courage to head downtown will be provided mostly by local entrepreneurs or from outsiders who realize what a steal they’re getting. Seems to be a mix at the moment, but I hope it’s the former.
At the funeral services for Sen. Ted Kennedy, there were many quotes tossed about. So is the standard for grand ceremonies, no matter the occasion. At one point, someone spoke the words of Ralph Waldo Emerson:
“Do not go where the path may lead; go instead where there is no path and leave a trail.”
I know it’s not a matter of life or death, but anyone looking at how to develop the future of a city should take those words to heart.
