Based on my trips around town, there is a rapidly growing quantity of vacant retail and office space in Greenwich. Here are pictures I took this morning. I could have taken many more. But there were too many vacant spaces and the drivers behind me did not appreciate my slow driving.
As a property owner or prospective property owner in town, I would be alert to how the deteriorating commercial market, in conjunction with plummeting residential sales, will impact the Town budget and property taxes. It would seem to me that the forward buget shortfall could easily be a multiple of the $8mln shortfall in the 2009/2010 Town budget. In hindsight the "tough choices" Town officials made to close that gap may look like childs play when the Town gets to the 2010/11 budget.
Greenwich Avenue
East Putnam Avenue (and area)
West Putnam Avenue (and area)
Railroad Avenue
Delevan Avenue
Glenville Street
On a pleasant note, there have been some new business openings (or at least name changes)
Plus women's retailer, Madewell, sister company of J. Crew, opened a store on Greenwich Avenue yesterday. I hope their business flourishes, but I'm not sure if $115 jeans and t-shirts will continue to be a wardrobe staple in the near future (but then I wear Levi 501 jeans; so take what I say on current fashion demand and style with a grain of salt).
And we have another planned opening:
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