small businesses

Understanding Urban Retail Vacancy

By Jein Park (Urban Institute) | In many cities across the United States, the retail sector has been in long decline and the COVID-19 pandemic has accelerated permanent store and mall closures, bankruptcies, and job losses. Although commercial corridors have been recovering at non-generalizable rates, the disruption to small business activity caused many more storefront vacancies than cities know what to do with. The issue of focus in our paper, storefront retail, is highly valuable as it contributes to the quality of street life, pedestrian-oriented urban design, and active frontage that promotes social exchange. Commercial corridors with high presence of retail vacancies often report declining quality of sidewalks, increase in crime, and a viscous cycle of economic disinvestment. In our UAR paper, we provide some insight about storefront vacancies in urban neighborhoods from the perspective of business organizations. We interviewed business organizational leaders about the causes, impact, and mitigation of retail vacancies and summarize our findings in our paper. Read More

October 27, 2021 // 0 Comments