Downtown Takes Another Body Blow

Another Business Leaves Downtown

Last week, Basil’s on Market, a downtown restaurant, announced that it’s location on North Market Street, was for sale or lease, effectively shutting the door on any chance of returning. The business had suffered a fire earlier in the year and had been closed for a considerable amount of time.

The announcement comes as yet another downtown establishment has shuttered its doors over the last few months. Brower’s Stationers, Ivy Court, Moeller Brew Barn, Pedego, Sweeney Todd Salon and the Troy History Library are some of the top names that have moved out of downtown since the beginning of spring, leaving a trail of vacant buildings in its wake.

It’s noteworthy that these business closings have come after the 100 block of West Main Street was reopened after a long and contentious closing. This isn’t to say that closing down one of the city’s most travelled roads impacted every business closing that downtown has had, but it certainly didn’t help.

What isn’t debatable is that Troy’s downtown is the part of the community that engenders the most community pride. Over the past this year, this publication has continually asked residents about the most positive assets our community has; downtown is always at the top of the list. When a business leaves downtown, their absence is certainly felt in the community.

If there is a glimmer of hope, it’s that the community has invested in groups like Troy Main Street to help advocate for the health and well-being of our downtown. More than just hosting events, Main Street groups around the country are charged to help with downtown economic development and historic preservation efforts to help make downtowns the iconic places that they can become. There is no doubt our own Troy Main Street has helped make downtown Troy the centerpiece of our community.

As our community is facing an increasing number of commercial vacancies downtown, this publication would challenge our community’s leaders to become more proactive and less reactive. Downtown is in desperate need of some type of forward-looking plan to help reactivate our town’s dormant storefronts into businesses that can help foster a brighter economic future for our community.

Any plan could easily incorporate these strategies to help our downtown:

A potential innovative approach is the creation of a "pop-up" shop program. This strategy allows entrepreneurs to test their business concepts in vacant storefronts for short-term leases. Not only does this fill empty spaces temporarily, but it also provides a low-risk opportunity for new businesses to gain traction. If successful, these pop-up shops can transition into long-term tenants, contributing to a more stable downtown economy.

Marketing plays a vital role in attracting both businesses and customers to downtown areas. Developing a comprehensive marketing strategy that highlights the unique character of the downtown, its available spaces, and its potential for foot traffic can make a significant difference. This might include social media campaigns, local advertising, and participation in regional economic development initiatives to showcase what the downtown has to offer.

Encouraging mixed-use development is another strategy that can increase downtown vitality. By combining residential and commercial spaces, downtown can create a built-in customer base for downtown businesses. Residents living in downtown apartments or condos are more likely to frequent nearby shops, restaurants, and services, creating a symbiotic relationship that benefits both businesses and the overall community. While Troy has made some strides in this area, more work can certainly be done.

Partnerships with local educational institutions can be another avenue for increasing downtown occupancy. Cities can work with our local community college and career center to create incubator spaces or student-run businesses in vacant storefronts. This not only fills empty spaces but also fosters entrepreneurship and can lead to long-term business development as students graduate and potentially continue their ventures in the downtown area.

Improving infrastructure and accessibility is crucial for attracting both businesses and customers. This certainly includes creating pedestrian-friendly walkways or making other transportation modes, such as cycling, more welcome downtown. Making it easier for people to visit and navigate downtown can significantly increase foot traffic and make the area more attractive to potential business owners.

Mentorship programs pairing established business owners with new entrepreneurs can provide valuable guidance and support. This can help new businesses navigate the challenges of starting up in a downtown location and increase their chances of long-term success. It also creates a sense of community among downtown business owners, which can be attractive to potential new tenants.

Addressing the issue of vacant properties through a strong vacant property ordinance can help reduce vacant storefronts. Working with property owners to understand their challenges and offering solutions can lead to more proactive leasing strategies and potentially lower rent rates to attract tenants.

Troy is unique. Our community has a well-identified downtown that is the heart of the entire city. Many communities, aren’t as fortunate as we are (I will buy anyone a lunch who can show me where downtown Huber Heights is). It’s incumbent that we value and take care of our downtown for the treasure it has always been.

What Do You Think?

Are there more things the community can do to help build back our downtown? Are there aspects of our downtown that are keeping businesses away? Be a part of our discussion! Our paid subscribers are more than welcome to leave their ideas and insights in the comment thread!

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