Hartford Business Journal

24 Hartford Business Journal • October 14, 2019 • www.HartfordBusiness.com Bronin, experts mull levers to kick-start CT retail By Joe Cooper jcooper@hartfordbusiness.com T here are plenty of suggestions on how to fuel downtown Hartford's retail corridor, but the first step must be to grow the city's population, according to Mayor Luke Bronin. That was the message Bronin shared with a room full of municipal planners, retail-store owners, com- mercial brokers and economic-de- velopment leaders during the recent "Retail in the Age of Disruption" event, held in Hartford by The Connecticut Main Street Center, a nonprofit aimed at boosting social and economic op- portunities in downtown centers. The mayor admittedly said he had more questions than answers on the polarizing topic of filling va- cant storefronts downtown. But he does have an overarching philoso- phy and blueprint. "From my perspective, you can't just create retail by bringing in retailers," Bronin said. "You have to create places where there are people, where there are feet on the street, where there is density, where you are using transit- oriented devel- opment, where you are strate- gically placing residential buildings, and then you're working in partnership to get the right retail in." Bronin said the city's retail realty market has recorded wins and losses in 2019. Victories include hundreds of new apartment units coming online this year, in addition to some downtown vacant storefronts being filled with coffee shops and boutique stores. Long-time center- city vacancies — including within XL Center and on Pratt Street — represent the losses. "There are areas where we have a tremendous amount to do, includ- ing part of our downtown, where we've had too many vacant build- ings, vacant storefronts for too long," Bronin said. "It's about con- tinuing to recognize the link be- tween a community where people are on the street after 5 p.m. and on the weekends to support retail." Robert Gibbs, president and managing partner of Gibbs Planning Group, agreed that attracting foot traffic during evening and weekend hours is especially key for retailers. After all, 75 percent of all retail sales in the U.S. last year occurred after 5 p.m. or on Sunday, Gibbs said. "If your downtown closes at 5:30 at night, you're giving up 75 percent of the market share," he said. Gibbs listed parking as the most important factor in supporting retail sales. His firm has found that every parking space in front of a store that turns over 12 times a day gen- erates $175,000 annually in sales for store owners. Retailers, which earn almost half of their profits between September and Christmas, also need an "x-factor" to spur sales, Gibbs said. Those may include retro neon signs, "beautiful" landscaping and flowers, and murals or storefronts designed by local artists. "Studies show that murals and fine art in downtown increase traffic by 30 percent and sales by 20 percent," Gibbs said. Joe Cooper is HBJ's web editor and real estate writer. He pens "The Real Deal" column about Greater Hartford's commercial real estate industry. Send him real estate tips and deals at jcooper@ hartfordbusiness.com. THANK YOU TO OUR SPONSORS ELITE SPONSORS CONTRIBUTING SPONSORS American Medical Response American Red Cross Anchor Engineering Services Andrews Benefits Blue Earth Compost CarePartners of Connecticut Cloud9 Online Connecticut GI, PC Flanders Donut & Bake Shop Flower Power Farm Gen Re Kloter Farms Marcus Communications Popcorners Purple Carrot Red Thread Riverfront Recapture Select Physical Therapy SoVita Chiropractic Center Access Health CT Aiello Home Services American Institute Bakery On Main Bank of America DATTCO Dole Fleet Feet Sports Greater Hartford Arts Council Hartford Business Journal Hartford HealthCare Rehabilitation Network Hartford Steam Boiler Jaconetta, Burnham & Wimer Attorneys at Law MahoneySabol nuun Hydration soundRUNNER StanleyBlack&Decker The Vascular Experts Willard J. Stearns & Sons Inc. DBA Mountain Dairy City of Hartford Town of South Windsor Town of West Hartford Town of East Hartford Community Partners (and Mile Marker Sponsors): Gottfried & Somberg Wealth, Glastonbury PW Power Systems SERVPRO of Newington / Central Hartford Mile Marker and Water Station Sponsors: Bouvier Insurance CATIC Comcast Hanging Hills Brewing Company Hooker & Holcombe Arthur J. Hurley In Memory of Katy Guidone RunningCoachCT.com TriathlonCoachCT.com Whittlesey SIGNATURE SPONSORS ANNUAL SPONSORS TITLE SPONSOR PRESENTING SPONSORS SPECIAL THANKS: THE REAL DEAL Mayor Luke Bronin

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