We all know Main Street is going through a revitalization. While all this new business is good for the City – it’s been a long-time goal, after all – it also means higher rental rates and a changing demographic for longtime businesses + residents of Main.
Timeline of Main St.:
- From the 1970s through the 2000s, Main St. was in a consistent decline after big-brand department stores (Macy’s, Belk) moved to the suburbs.
- In July of 1998 the Columbia Museum of Art relocated to Main St. – and some say this was what helped put downtown’s revitalization into motion.
- With Mayor Steve Benjamin’s election in 2010, business began a mass migration back to Main St.
- $500+ million in private investment has been pumped into the area in the last 10 years, and over $38 million in the last few years.
- With higher demand for Main St. real estate, rent prices have increased almost 100% in just five years (~$20/sqft/yr now vs. $10-12/sqft/yr).
“Legacy businesses” + how they’re dealing:
- Washington Street Barber Shop | 122 Washington St. | ~30 years | closing Dec. 22 → rent too high
- International Wigs | 1643 Main St. | ~45 years | thinking of moving or closing → doesn’t fit
- Solid Gold Beauty Supplies | 1612 Main St. | three-generations | thinking of making changes → new demographic
- House of Fabrics | formerly 1312 Main St. | ~60 years | selling building + relocated to Bush River Rd. → couldn’t afford safety repairs
- Jeff Morris Furniture and Appliances | 1645 Main St. | 23 years | would consider selling the building in the future, but here to stay for now
- Oakley’s Old Cobbler Shoe Repair | 1629 Main St. | ~10 years | sparse parking has been deterring customers, but they’re making it work
- Drake’s Duck-In | 1544 Main St. | ~2 decades | hoping more traffic = more customers
