Thursday, July 30, 2009
Rebirth of Union Square – is the recession over?
LOOKING AHEAD by Wally Dobelis
If Union Square has been the perfect weather wane for the arrival of the recession, may it also well be one for the recovery? We saw, with much regrets, the departure of Circuit City and Virgin Records, both within the same One Union Square South block, both seemingly solid corporate citizens, particularly since the collapse of Tower Records ten blocks south. But both businesses live in the marginal disposable income fringe, unlike food and clothing, the near utilities. Well, fellow watchers of the economic ball and counters of the paychecks, if consumption is the key to recovery, the arrival of new brave retail tenants for the vacant spaces signifies something.
Yes, Nordstrom Rack, discount sister of the solid Nordstrom chain of solid values, is taking over the 32,000 sq. ft. of the Virgin downstairs space (23,000 sq. ft upstairs are still available), also including 30 feet of front space facing Broadway. That will complement the discount ladies clothing at Forever 21 and Filene's Basement up in the Whole Foods neighborhood, T.J. Maxx and Marshall's on Sixth Ave and all the other class buying emporiums at discount prices that our neighborhood has been famous for since S. Klein's On The Square ceased to exist.
Further, Best Buy is taking the entire 46,000 sq. ft. Circuit City space, supplementing their 34th Street emporium. That's faith in electronics, and also photography, not well served in the neighborhood since other departures.
Yet further, Verizon has taken space with P.C. Richards to sell up-to-the minute electronics. Don't stop reading.
Somebody smart - ok, it was David Browne in the NYTimes Styles section - identified the music and TV various generations yearn for - Springstein and the Woodstock music for the Boomers, Curt Cobain for Gen X, and Harry Potter, also Britney Spears, warts and all, for Gen Y. Yes, there is a Gen Y, born 1990-2003, the post Y2K and 9/11 crowd. Nostalgic for their childhood? Yes.
I too should like to propose a nostalgic journey, of the department stores of our youth, starting with the aforementioned Klein’s for the pre-boomers and boomers. It has to include B. Altman's on 32nd Street, the ultimate class store for the area. Back at E. 14th, Ohrbach’s (until in 1954 they moved to 34th Street), Mays ( closed in 1960s), Bradlees (closed around 2000) up in 6th Ave area served the boomer and GenX, and sort of hit the ultimate edge, the GenY, when that building became the site of Whole Foods Market, Filene’s Basement, Forever 21 and DSW. We never got to be the fashion center, maybe just as well. Those are the stores that expire, $900 jeans and all.
Back on 14th Street wavelength, here are the press releases. First, from the Union Square Partnership, with good figures: Nordstrom Rack and Best Buy are a perfect complements to the district, which has seen an increase in pedestrian traffic by 59 percent over the past five years and more than 35.5 million riders who used our subway stations this past year. As one of the most vibrant districts in New York City, we are thrilled that Nordstrom, a trusted brand with exceptional customer service, has chosen Union Square for its Manhattan debut. In addition to the jobs that Nordstrom as well as Best Buy will bring to the area, the leasing of the retail space at One Union Square South will ensure that the retail blocks surrounding the park remain as popular as ever. Nordstrom’s has 175 stores in 28 states, eight of them in NYC area, plus three Racks.
As to the district, the Partnership notes that Union Square is one of the most vibrant districts in New York City, Union Square is a dynamic center of food and fashion, culture and cutting edge businesses. The approximately 12,000 businesses located within a ½-mile radius of Union Square employ approximately 140,000 people. Home to the City's oldest Greenmarket, a beautiful historic park, and hundreds of the best restaurants and shops, the Union Square district has earned a reputation as the ultimate New York City neighborhood destination.
If these were not enough boosters for the economy, Verizon Wireless has expanded its retail presence with the addition of a new store within the P.C. Richard & Son showroom near Union Square. Verizon claims that, with the addition of the Verizon Wireless kiosk, P.C. Richard & Son customers now have easy access to the latest wireless phones, devices and accessories, plus a variety of service plans on the nation’s most reliable wireless network.
Located at 120 East 14th Street, the new Verizon Wireless store keeps long hours.
The new kiosk offers consumers a broad range of services and equipment, including popular devices like the BlackBerry® Tour™ and service features like Verizon Wireless Friends & Family® which lets customers on eligible calling plans enjoy unlimited calling to up to 10 numbers on any network, anytime, anywhere in America without using plan minutes.
Wally Dobelis also thanks Garrett Sloane (amNewYork)
If Union Square has been the perfect weather wane for the arrival of the recession, may it also well be one for the recovery? We saw, with much regrets, the departure of Circuit City and Virgin Records, both within the same One Union Square South block, both seemingly solid corporate citizens, particularly since the collapse of Tower Records ten blocks south. But both businesses live in the marginal disposable income fringe, unlike food and clothing, the near utilities. Well, fellow watchers of the economic ball and counters of the paychecks, if consumption is the key to recovery, the arrival of new brave retail tenants for the vacant spaces signifies something.
Yes, Nordstrom Rack, discount sister of the solid Nordstrom chain of solid values, is taking over the 32,000 sq. ft. of the Virgin downstairs space (23,000 sq. ft upstairs are still available), also including 30 feet of front space facing Broadway. That will complement the discount ladies clothing at Forever 21 and Filene's Basement up in the Whole Foods neighborhood, T.J. Maxx and Marshall's on Sixth Ave and all the other class buying emporiums at discount prices that our neighborhood has been famous for since S. Klein's On The Square ceased to exist.
Further, Best Buy is taking the entire 46,000 sq. ft. Circuit City space, supplementing their 34th Street emporium. That's faith in electronics, and also photography, not well served in the neighborhood since other departures.
Yet further, Verizon has taken space with P.C. Richards to sell up-to-the minute electronics. Don't stop reading.
Somebody smart - ok, it was David Browne in the NYTimes Styles section - identified the music and TV various generations yearn for - Springstein and the Woodstock music for the Boomers, Curt Cobain for Gen X, and Harry Potter, also Britney Spears, warts and all, for Gen Y. Yes, there is a Gen Y, born 1990-2003, the post Y2K and 9/11 crowd. Nostalgic for their childhood? Yes.
I too should like to propose a nostalgic journey, of the department stores of our youth, starting with the aforementioned Klein’s for the pre-boomers and boomers. It has to include B. Altman's on 32nd Street, the ultimate class store for the area. Back at E. 14th, Ohrbach’s (until in 1954 they moved to 34th Street), Mays ( closed in 1960s), Bradlees (closed around 2000) up in 6th Ave area served the boomer and GenX, and sort of hit the ultimate edge, the GenY, when that building became the site of Whole Foods Market, Filene’s Basement, Forever 21 and DSW. We never got to be the fashion center, maybe just as well. Those are the stores that expire, $900 jeans and all.
Back on 14th Street wavelength, here are the press releases. First, from the Union Square Partnership, with good figures: Nordstrom Rack and Best Buy are a perfect complements to the district, which has seen an increase in pedestrian traffic by 59 percent over the past five years and more than 35.5 million riders who used our subway stations this past year. As one of the most vibrant districts in New York City, we are thrilled that Nordstrom, a trusted brand with exceptional customer service, has chosen Union Square for its Manhattan debut. In addition to the jobs that Nordstrom as well as Best Buy will bring to the area, the leasing of the retail space at One Union Square South will ensure that the retail blocks surrounding the park remain as popular as ever. Nordstrom’s has 175 stores in 28 states, eight of them in NYC area, plus three Racks.
As to the district, the Partnership notes that Union Square is one of the most vibrant districts in New York City, Union Square is a dynamic center of food and fashion, culture and cutting edge businesses. The approximately 12,000 businesses located within a ½-mile radius of Union Square employ approximately 140,000 people. Home to the City's oldest Greenmarket, a beautiful historic park, and hundreds of the best restaurants and shops, the Union Square district has earned a reputation as the ultimate New York City neighborhood destination.
If these were not enough boosters for the economy, Verizon Wireless has expanded its retail presence with the addition of a new store within the P.C. Richard & Son showroom near Union Square. Verizon claims that, with the addition of the Verizon Wireless kiosk, P.C. Richard & Son customers now have easy access to the latest wireless phones, devices and accessories, plus a variety of service plans on the nation’s most reliable wireless network.
Located at 120 East 14th Street, the new Verizon Wireless store keeps long hours.
The new kiosk offers consumers a broad range of services and equipment, including popular devices like the BlackBerry® Tour™ and service features like Verizon Wireless Friends & Family® which lets customers on eligible calling plans enjoy unlimited calling to up to 10 numbers on any network, anytime, anywhere in America without using plan minutes.
Wally Dobelis also thanks Garrett Sloane (amNewYork)
# posted by Wally Dobelis @ 7:40 PM 
