howsyourlife t1_jdnezlk wrote
Surprised the owners rejected the idea of converting into condos or apts a la The Arcade, especially given how successful the 903 and 225 promenade/ Halstead nearby have been.
fishythepete t1_jdnon1p wrote
Blockbuster passed up a chance to buy Netflix. A lot of commercial real estate owners probably think now that COVID is “over”things are going to go back to “normal.” I may not have a crystal ball, but I think the odds of things ever going back to people working in downtown offices five days a week are over for good.
FunLife64 t1_jdram83 wrote
There was an article I think in NY Times about transitioning commercial to residential and how it’s just a disaster.
The Arcade is an interesting example - do people actually live in those? I’ve seen them for sale but they are ridiculously tiny. And not a great example of keeping a building afloat haha
bluehat9 t1_jdw0okw wrote
….you mean compared to when it was totally vacant? Yes, people live there. All of the micro lifts upstairs are condos.
What do you mean not a great example of keeping a building afloat?
FunLife64 t1_jdwr9ge wrote
Yeah that’s why I said I’ve seen them for sale….but given the size sometimes those types of places aren’t primary residences.
I’ve never seen a soul when I go in the arcade. Obviously those condos aren’t housing many people just given their size - guessing most are solo occupied. Hence not a good example of residences contributing to pedestrian traffic!
bluehat9 t1_jdwvmz6 wrote
48 lofts at 1 person per loft is 48 people living in downtown who probably wouldn’t be there if not for the small size and relative affordability. Paolinos “studley” building is 65 micro units and the one next to “the dorrance” is also micro lofts.
I see people coming and going from the arcade pretty often when im walking by. You can enter and exit from either side
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