🔒Bronin, experts mull levers to kick-start CT retail

There 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, commercial brokers and economic-development 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 opportunities in downtown centers.

The mayor admittedly said he had more questions than answers on the polarizing topic of filling vacant storefronts downtown. But he does have an overarching philosophy 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 development, where you are strategically 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, including part of our downtown, where we’ve had too many vacant buildings, vacant storefronts for too long,” Bronin said. “It’s about continuing to recognize the link between 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 generates $175,000 annually in sales for store owners.

The Hartford Parking Authority is adopting more of a managed-parking strategy that includes raising downtown parking rates in order to leave more spaces available for individuals who want to park near shops or restaurants. 

Retailers, which earn almost half of their profits between September and Christmas, also need an “x-factor” to spur sales, according to Gibbs. 

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 added. “Signs should be handcrafted to reinforce the uniqueness of your store. It’s a no brainer.”

Gibbs said city officials have called him to complain about ongoing retail vacancies. That came as a surprise for Gibbs, who has worked with clients in every corner of the U.S.

“Your main streets are probably the most beautiful in the country,” he said. “Your urbanism and neighborhoods are amongst probably the best in the country. I wish more places were more like Connecticut.”

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.