This week’s Crain’s Chicago Business devotes a lot of ink to the dynamics of emerging neighborhoods, with stories on the West Loop, the South Loop, south Streeterville / River East and University Village. Another piece, by Sarah Klein, argues that retail has been slow to follow residential development in these neighborhoods, making them, according to one commercial broker, “a little dysfunctional.”
Retail usually lags residential – that’s not news. The question for these neighborhoods is how much. Klein argues, “Part of the problem is that the neighborhoods are, in a sense, affluent islands, surrounded by impoverished and undeveloped areas.” (Really? Even Streeterville?) Parking, lack of space and high commercial rents also play a part.
What do Yo’all think? What will it take for these neighborhoods to get more commerce – and start really feeling like neighborhoods?