[ad_1]
The Philadelphia Historical Commission will also have to review the designs for any new developments proposed for the district, a partial check on the rise of residential projects.
“That’s how most places get protected is when they become threatened,” said historic preservationist Oscar Beisert, who wrote the nomination for the district.
Back in business
If there’s a potential silver lining for concerned residents, it’s that the increased development activity could help improve the neighborhood’s struggling commercial corridors — by delivering more disposable income and foot traffic.
During the early part of the 20th century, Germantown’s central business district was the second-largest shopping district in Philadelphia outside of Center City. But by the 1970s, the district was a shell of its former self as Germantown lost population to the suburbs. Malls soon made matters worse.
As of last summer, the district’s vacancy rate sat at 18%, according to data provided to the city’s Commerce Department. That translates to 50 out of 282 storefronts. A 5% vacancy rate is generally considered to be “healthy” for a busy retail corridor.
Emaleigh Doley, executive director of Germantown United CDC, said an influx of residential development, particularly around the business district, could potentially change those fortunes if the additional density motivates new businesses to open up shop.
The district, for example, has a dearth of sit-down restaurants, particularly ones serving dinner.
“We have a lot of financial loss where people living in Germantown are spending all or the majority of their money outside of the neighborhood. So we can potentially see a better and healthier, more local economy with growth in the business corridor,” said Doley, who has called Germantown home for much of her life.
That reality is a big reason why longtime resident Villia Abdul-Lateef is thrilled that Weavers Way Co-op is opening one of its markets on Chelten Avenue. Abdul-Lateef, an education specialist in Delaware County, typically drives to Chinatown or the Reading Terminal on her way home from work to get groceries. While she’s down there, she sometimes hits retail shops in Center City before returning to Germantown.
“And I just keep saying, ‘I just want to do this in my own community,’” said Abdul-Lateef.
When she looks at all the new apartment buildings in her neighborhood, she sees the potential for positive change — even as she continues to get offers for her home, even after she watched three neighbors on her block move out because their landlord raised the rent beyond what they could afford.
And she thinks the neighborhood has room to grow, especially when it comes to its commercial corridors.
“I’m trying to just hopefully see where this goes. I would love to see this keep going forward,” said Abdul-Lateef. “I’m hoping not at the expense of people leaving.”
[ad_2]
Source link
