Tag

Commercial Vacancy

All articles tagged with #commercial vacancy

local-government1 month ago•29 min saved

Portland abandons vacant commercial property fee after study finds it ineffective

Portland City Council has dropped plans to impose a fee on owners of vacant commercial properties after a city-commissioned study concluded the measure would be costly, ineffective, and disproportionately harmful to small owners. The decision follows record-high vacancy rates in downtown office buildings, with data showing nearly 39% vacancy in the downtown core. While the fee is off the table, the study recommended cheaper permitting processes, easier use conversions, and targeted enforcement for nuisance properties as alternative solutions to address empty storefronts and offices.

via KATU|

#commercial-vacancy #local-government #portland-city-council

urban-development1 month ago•8 min saved

Philadelphia’s South Street faces 30% vacancy rate amid stalled zoning reform

South Street in Philadelphia is grappling with a 30% commercial vacancy rate, the highest in a generation, as it struggles to recover from a decline that began over two decades ago. While the corridor retains popular attractions like Jim’s South Street and the Magic Gardens, foot traffic remains low compared to its peak. City planners have proposed a zoning remap to CMX-3 mixed-use standards to encourage redevelopment by allowing taller buildings and new business types by right, bypassing costly variance processes. However, progress has stalled for over a year due to lack of consensus among neighborhood organizations. Critics argue that zoning changes alone will not address issues like nuisance establishments or high rents, while supporters believe standardized rules are necessary to attract diverse businesses and anchor tenants.

via Billy Penn at WHYY|

#commercial-vacancy #philadelphia #south-street