Squeezing Out The Independents

The downside of success: downtown revitalization leads to higher rents and chains.
June 25, 2004, 2pm PDT | Abhijeet Chavan | @legalaidtech
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"A thriving downtown known for its quirky shops and booming nightlife will soon sit in the shadows of towering lofts and condos, leading some to wonder if the city is straying from its edgy roots. Rising rents and an emphasis on eateries in recent years have squeezed out many local mainstays...Meanwhile, corporate giant Barnes & Noble gets heavy traffic... City leaders -- and even some longtime business owners -- view the pricey housing projects and establishment of national franchises as proof this city’s evolving downtown is still the place to see and be seen. But others say Royal Oak’s maturation into one of Metro Detroit’s hip yet increasingly pricey suburbs seems dangerously close to turning it into a watered-down version of its formerly funky self."

Thanks to Richard Layman

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Published on Thursday, June 24, 2004 in The Detroit News
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