"As a quasi-successful artist and small business owner, I am asked all the time: "Why don't you open a shop in Portland? People here love your stuff!" Here's why: commercial rent is insane and untethered from economic reality. There is simply no foot traffic in this relatively small city to justify these asking prices. After paying a landlord his sky-high rent, there'd be no margin left at the end of the month to pay myself, hire workers, or even buy toilet paper for the bathroom."
"Why would any sane artist, maker, or entrepreneur even attempt to launch in Portland? Unless City Council intervenes by introducing an aggressive suite of vacancy taxes, land value taxes, and anti-speculation penalties that would incentivize landlords to drop their rents, there's no hope. There's only a doom spiral as shoppers get in their cars and drive to Target anyway."
Commercial rent in Portland is unaffordable and untethered from local economic reality. Insufficient foot traffic in the relatively small city fails to justify current asking prices. Paying sky-high rent leaves no margin to pay owners, hire workers, or even buy basic supplies. High rents deter artists, makers, and entrepreneurs from opening shops. City Council intervention with vacancy taxes, land value taxes, and anti-speculation penalties could incentivize landlords to lower rents. Without policy changes, shoppers will continue driving to big-box stores and the local retail environment will enter a doom spiral.
Read at Portland Mercury
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