Voting with their Feet for Downtown Retail

Footware News, part of the WWD print and online fashion empire, likes what it sees in downtown retail real estate.  It has a roundup article this morning that suggests that foot traffic will benefit footwear sales and, more to the point, retail is roaring, citywide.

"I wouldn’t have said this one year ago, but the downtown and financial areas are definitely seeing a dramatic change," says Faith Hope Consolo, chairwoman of Douglas Elliman’s Retail Group, in the article. "Consumers love the neighborhood feel. That’s the new flavor."

Consolo says that the "great renovation at the World Trade Center," means that "the march downtown is already happening."

Beyond the soaring market talk, the Footware News assess and applauds retail development prospects at the Westfield World Trade Center, Brookfield Place (the former World Financial Center), and the Fulton Center.

Then, the article moves north and west, noting that the "Soho buzz" will continue, as well as retail developments  "in the always popular 34th Street and Fifth Avenue and Madison Avenues areas." It also points out that Hudson Yards eventually will be the home of New York Fashion Week, and Nordstrom's is coming to W. 57th St.

The bottom line, says Karen Bellantoni, executive vice president at retail leasing firm RFK in the article, "If you look at it from a fashion perspective, they are all thriving markets.”

The just-posted Footware News article can be found here.

comments powered by Disqus