The Lincoln Road BID came up with a plan to create alternative uses for vacant retail space, empty parking garages and the open-air pedestrian promenade.
Factors that bode well for homebuildings include record low mortgage rates and a limited home inventory coupled with increased demand from residents who continue to work from home.
Given demographic trends RCLCO forecasts much greater demand than the current pace of production, which could result in a significant supply shortfall.
Irrespective of scenario, we expect tough sledding ahead for the economy … as job gains continue to slow, business failures persist, and wage growth and spending remain challenged.