Newspaper Page Text
Will Rising
Property
Values Bring
An End To The
Downtown
Scene, Or Is It
Just Business
As Usual?
Which direction downtown development takes
will largely depend on the businesses that succeed
there. According to Art Jackson, executive director
of the Athens Downtown Development Authority
(ADDA), scores of entrepreneurs are looking to set
up shop. But, he says, potential business owners
face a formidable obstacle.
"There's lots of interest in folks buying prop
erty, but there's little property changing hands,
because the values are so high," says Jackson.
"Building values have gone through the roof. The
values are getting higher than what you can gen
erate from rent, so it doesn't make any sense as
an investment."
The ideal situation, says Jackson, is owner-
occupied property. However, the costs of owner
ship and maintenance are so high that corporate
entities with deep pockets are often the only ones
who can afford it. Add in the fact that there is no
histone designation to protect century-old build
ings—downtown could, technically, be bought up
and torn down tomorrow, as the Benson Company,
owner of Holiday Inn, is doing with a half-block
on East Clayton Street.
Athens-Ciarke County Commissioner John
Barrow says that the Commission is looking at
ways to address the issue of downtown preserva
tion.
"We're in the process of trying to decide
whether or not to designate downtown as a his
tone distnet," he says. Barrow points out such a
designation would not only protect histone build
ings but would provide incentive for their rehabili
tation in the form of a property tax freeze for
nine-and-a-half years.
But not everyone, it seems, supports even the
most incremental steps toward historic protection.
An ACC Commission committee recently proposed
a special "overlay" district for lower downtown, to
require that new architecture replicate the styles
of select "key buildings." The proposal incurred
the wrath of several propeity owners, including
the Benson Companv, which plans to build a hotel
in the half block it is demolishing on Clayton in
January, the AlC Planning Commission unani
mously rejected the overlay.
Local or Chain?
Art Jackson says inquiries regarding downtown
property come primarily from local residents who
want to open a small business. The reason most
big names are staying away, he says, is that many
of them are wary of downtown space concerns,
especially lack of parking.
"A lot of chains are scared to death of down
towns, becaus most of them are geared toward a
free-standing suburban location where they can
predict what's going to happen," says Jackson.
"They can do their cookie-cutter standard box,
where they know what their demographics are:
they know what their sales will be."
There was one request, though, by a national
bookseller wanting to take over an entire down
town block. "We said, No way, that won't work.'"
Jackson laughs. "People won’t tolerate that."
At any rate, says Athens Realtor Jack Stroud,
"Most big credit tenants prefer to rent. That way
they can pull up stakes at the end of the tease if
things go badly, like they do in shopping centers."
And what of chains that rent downtown? Will
higher rents force independent businesses out,
clearing the way for every Gap and Starbucks
that wants in? ACC Commissioner Tom Chasteen,
who is also a member of the ADDA board, doesn't
think so.
"I think we're going through an evolutionary
situation downtown, with the values and so on,"
he says. "Now we're getting to where the property
owners are in a crunch, and the rents are getting
bumped up. But I think they can justify what
they're paying and still do extremely well. With
the downtown business environment nght now, I
just can't help but believe that any differences
like that are going to be offset."
Plus, Chasteen says, the downtown market is
somewhat inherently protected from homogeniza
tion. "I think the atmosphere downtown is much
better for the smaller, independent business than
it is for these national chains," he says. "We're
kind of a small town, and everybody likes to feel
that they know these people they're doing busi
ness with. They become friendly with them in
addition to the business relationship."
Jason Solomon opened Need Supply Company,
localcolor
domestic arts
&
LaccoutrementsJ
Do you feng shui? We do.
downtown 193 E Clayton Street 543-7392
ATLANTIS W
HYDROPONICS
donsai Trees
Culinary Hants
Organic 5cede
Special©^ in onaanc renitzen f&i*.
4 natural pest control.
Guess ntich tomato plant was hydropcmcatty.
M-W $8.95 AH Flavors
Margarita Pitchers
THU Pitchers Specials:
Dos Equis $3.50
MrlerLT and
Icehouse $2.75
FRi Icehouse Pitchers $2.75
SAT Dos Equis Pitchers $3.50
AS ALWAYS:
Vegetarian & Take-Out Available
Open Mon-Sat ■ 99$ Hawthorne Arc.»Bells Plaza * T484261
<*(.
Think Alternative! "
»
Do you suffer from ehronic pain,
fatigue, weight gain or
a sports injury?
Symptoms are a >i*tn that vour ImmIv need*
attention, Pali for a five eon>ultation.
Dr. Paul Wickster
illernutn e solutions for vour health rare neeils
ATIIKNS Kinksiology. P.C.
706.227.3325
^Athens)[QQ/\ Center
263 W. Clay tun St.
546-4200
Basic Beginner Class Starting Dates
Monday. February 21 7 pm
Tuesday. February 22 10:30 am
Wednesday. February' 23 7 pm
$60 tor Six Weeks
Please Pre-Register 546-4200
Ongoing l^vel I, Intermediate, and.Advanced,
Drop-in Classes also Available.
□ FLAGPOLE FEBRUARY 16, 2000
PHOTOS BY PHI MCCOMMONS