Independent Retailers Reign on King Street
Despite large firms moving in, data show boutiques and other independent businesses clamor for King Street.
While big name chains like H&M, Anthropologie and White House Black Market are causing community concern that Old Town is losing its small town charm and entrepreneurial spirit, new data shows that 80 percent of King Street is home to independent retailers. That’s an uptick from 77 percent in 2010. The vacancy rate for King Street in Old Town for the fourth quarter of 2012 is 3.4 percent and new boutiques make up approximately 30 percent of all new retail along King Street over the last four years, according to data provided by the Alexandria Economic Development Partnership. Lower King is seeing the highest vacancy rate with 4.9 percent at the end of last year. Middle King (Washington to West Street) shows about a 2 percent vacancy rate …
In this Article:
Renee Lang
10:56 am on Friday, February 22, 2013
I happen to think there's an appropriate mix of corporate and home grown retail, and I'd like the fact that local businesses continue to pop up. As long as we keep that balance, I'm OK with it. And the fact that the "Boutique District" is thriving, and is a draw in itself is a huge plus. It could be worse... OT's King Street could look more like Charleston's King Street that feels 90 percent … more ›