\u201cWith property values going up, that makes the rents go up,\u201d Downtown Plano Manager Michelle Hawkins said. \u201c[When] sales aren\u2019t keeping up with the rent, then it\u2019s struggling. Our mom-and-pops are struggling, but that\u2019s not just a downtown Plano issue.\u201d<\/p>\n
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The impact<\/p>\n
Hawkins said downtown\u2019s retail presence has \u201cthinned out\u201d in recent years, largely due to national trends in retail rather than issues entirely unique to Plano. Retail makes up just over 8% of downtown businesses, while restaurants and bars account for nearly 27%, according to city data.<\/p>\n
\u201cSome of our newer stuff has moved on, and we\u2019ve got some things moving in that [are] very exciting,\u201d Hawkins said. \u201cIt\u2019s not as much of a shopping district as we\u2019d like to see, so that is going to be a focus of ours moving forward is attracting more retail.\u201d<\/p>\n
Hawkins said as retail has decreased, service-oriented businesses and restaurants have filled some spaces downtown. For example, hair salon Anomalia Society<\/a> is taking over retail boutique La Foofaraw\u2019s<\/a> former space.<\/p>\n \u201cWith retail moving out, what has come in is more services, which is great … but it\u2019s not necessarily what you think of when you think of a vibrant downtown,\u201d Hawkins said. \u201cYou think of shopping and restaurants.\u201d<\/p>\n Marsalis added fewer consumers are shopping in person compared to previous years, a trend that accelerated after the COVID-19 pandemic.<\/p>\n \u201cPeople don\u2019t shop on foot as much as they used to,\u201d Marsalis said. \u201cThat\u2019s not a new thing. People have been doing more online shopping, but I think it\u2019s even more popular now.\u201d<\/p>\n Bibliobar owner Chelsea Tresp, who opened her independent bookstore in downtown Plano last March, said expanding downtown\u2019s retail mix is critical to building sustained foot traffic.<\/p>\n \u201cWe need more retail, and we need landlords who want to have more retail,\u201d Tresp said. \u201cRetail gets more retail, [which] gets more people. The more people you can get down here, the better.\u201d<\/p>\n “><\/p>\n What\u2019s being done<\/p>\n Marsalis noted that while Plano has a strong talent pool, retail businesses in particular continue to struggle to find and retain retail workers. At the same time, higher costs are leading some consumers to scale back discretionary spending, Marsalis said.<\/p>\n \u201cThe most expensive part and the most challenging part of having a business is people,\u201d Marsalis said.<\/p>\n Hawkins and Marsalis said some businesses have adapted by shifting online or other options rather than maintaining full-time retail spaces.<\/p>\n
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