On Sunday, May 14, 2017 at 7:34:45 PM UTC-4, Eric Ramon wrote:
> On Sunday, May 14, 2017 at 2:10:08 PM UTC-7, Michael Press wrote:
>
> > And what did this “victory” deliver for the sensitive,
> > socially woke residents instead? The property sits empty, as it
> > has for over a year with the exception of a brief, failed attempt
> > to open up a hair salon there. So the neighborhood used to have a
> > coffee shop where people could gather for a cup of joe and
> > mingle. Now they have an empty eyesore which is generating zero
> > profit or tax revenue.
> >
>
> there is no doubt in my mind, because I've seen this in Portland, that storefronts are empty because the landlords are charging too much for rent.
>
> As an example, there used to be a restaurant on the business street near me, the Tabor Hill Cafe. They had to close down due to the rent increase and that was over three years ago. It's still empty. The building owner offered it for $9,000 a month. When I last looked, last fall, the price had come down to $6,999. No takers, and stores are opening on the street all the time, just not that one. If we guess that the old rent was $5,000 a month and if it closed in early 2014 that's 39 months of no rent then the landlord has lost $195,000 in income because he wanted to raise it to what he thought he could get.
Exactly. I don't think Michael understands who's getting the Schadenfreude here.
Landlord jacks up rent on local coffee shop, loses tenant.
Neighborhood, furious at their local place getting screwed, blocks replacement tenant.
Landlord is out a whole bunch of money.
Seems that the neighbors' revenge worked quite well.
(not getting into if they should have the ability to block a new tenant, because that's not the point of this thread. Press et al are portraying it like the neighborhood screwed themselves, when in fact they screwed the landlord who might think twice about driving out small businesses from his properties).