The September issue of New Homes Magazine takes a look at how the condo boom has affected Lake View’s bustling retail corridors:
Real estate prices have risen steadily in Lake View, one of the city’s most prosperous communities. That makes it harder for small or family-owned businesses to compete with the upscale franchises better equipped to foot the rising real estate prices and heavy tax burden. In this environment, it makes increasing economic sense to build mixed-use developments with retail on the ground floor. These projects tend to seek more affluent tenants and eschew restaurants, clubs or other businesses that might disturb homeowners above.
Depending on whom you ask, that’s a good thing, part of a wave of neighborhood prosperity. Others argue it’s gradually, incrementally leaching Lake View’s retail of its character and diversity.
Read more at New Homes Magazine online.