the urban prospector

Searching for Golden Opportunities in America's Cities


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Small Storefronts Result in Resilient Retail

This shop is the result of a combination of two pre-existing retail spaces. If this store falls on hard times, it can shrink into one half of the space leaving another small storefront available for a new tenant.

This shop is the result of a combination of two pre-existing retail spaces (notice the structural support running down the middle of the store). If this store falls on hard times, it can shrink into one half of the space leaving another small storefront available for a new tenant.

With the current recovery and reurbanization of the US, there is a lot of construction in old industrial cities and suburbs that are looking to be more dense and walkable. As can be seen in places like Jersey City, the retail component of these buildings often involves larger spaces. This poses a challenge because it sets a higher threshold that a business has to cross before it can afford to rent the space. It is much cheaper to rent 500 square feet than 1000 square feet. There are two problems that result from this. First, there is a smaller pool of businesses that can afford to rent such a place. Typically these are larger more established companies and often are larger chains. Secondly, these larger spaces make it more difficult for a new company to get a foothold in the market. Continue reading

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Flemington’s Stangl Factory Forges a New Creative Economy

IMG_4827cFor Valentines Day I took Cailie out to Western Nj. It had been a while since we had done any exploring and I figured this would be a good time to go for a random drive around NJ. We first stopped at T.M. Ward, a great coffee retailer and institution in Newark. While Cailie ran in to get some coffee and peanut butter, I quickly looked through google maps to find a destination: Flemington it was.

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Plan for Replacement

One of the several small shops next to available space in the Grand Rapids Downtown Market. The ability to rent kitchen space as well as retail space as small as 100 square feet is allowing new companies to be created.

One of the several small shops next to available space in the Grand Rapids Downtown Market. The ability to rent kitchen space as well as retail space as small as 100 square feet is allowing new companies to be created.

Everything comes to an end. The dinosaurs of the Jurassic, the Pony Express, Google, and even the chair I’m sitting on either have or will come to an end; if I do not have a replacement for my chair when its time is up, I will be left sitting uncomfortably on the floor. Organizations will falter. Businesses, no matter how well run, will at some point in time fail. Bands will break up. Even the most powerful and respected organizations will at some time cease to exist. Atrophy is universal. In the long run, preservation will not work: the only long term strategy is replacement.

While replacement has different requirements depending on what needs to be replaced, it is almost always an incremental process. Multi-national corporations do not appear overnight. Bands, even the most corporately devised, have small beginnings. Effective community organizations take years to grow into an established force. Rather than focusing on creating large existing organizations, there needs to be a focus on creating the right conditions for small organizations to emerge and organize. The best way to do this is to remove barriers to entry.  Barriers to entry, is defined by Investopedia as “The existence of high start-up costs or other obstacles that prevent new competitors from easily entering an industry or area of business.” Barriers to entry can be removed or lessened in many different ways. Continue reading