In downtown Kalamazoo the stage is set for a promising future and the next big project.
That's the message relayed as
Downtown Kalamazoo Inc. reviewed what's going right and what could go better in its annual State of the Downtown address.
Ken Nacci, president of DKI, speaking before local, state and federal officials, and others interested in the health of the downtown reported that retail vacancies are at 10.7 percent compared with 14 percent in 2009. There were 11 new retailers including traditional stores, restaurants and entertainment venues that opened their doors in 2010.
Two businesses are ready to enter DKI's retail incubator program and two of the first three stores that have gone through the program remain in business.
Plans by Thom Huff of
Peregrine Realty
will assure every storefront from Michigan Avenue to Lovell Street is
either occupied or will have development plans in place.
Office vacancies have gone up slightly from 14 percent in 2009 to 15.4 percent. There were 16 office users who left the downtown, six who relocated but stayed downtown and five new offices opened.
The number of employees working downtown dropped by 387. But Accretive Health has said it intends to bring in 200 employees in the next year.
Meanwhile, the residential market continues to show its strength, with a less than 1.5 percent vacancy rate.
Even news that on its face looked negative had an upside. Of four business that closed their doors, two were transformed at the same address. Bin 359 reopened as the Central City Tap House in the same space and McNally's Restaurant became Andrea's.
Among other highlights, preliminary figures show certain crimes in the downtown are down 30 percent over the past three years.
And special events, including 32 at the Arcadia Festival Site in 2010 drew 150,000 people downtown, raising an estimated $370,000 for area charitable organizations.
A number of local businesses were recognized for their success over the past year. One was the local theater Farmer's Alley. The 100-square-foot black box theater reported 91 percent capacity after having sold tickets for 10,000 seats in its second year of operation.
Those gathered also saw a
video update on Mavcon's project rehabilitating commercial property on Michigan Avenue.
Writer: Kathy Jennings
Source: Vicky Kettner, DKI
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