
Originally Posted by
Urbanized
It really is more challenging than it appears at first blush, saying this as someone who has watched it up close for 15 years. It looks so obvious; that property has to be the most appealing in downtown, right? But it really isn't easiest to develop, or actually easy at all. Locals aren't fascinated by the canal, so they don't go to Bricktown to stroll along its banks. Locals are still EASILY the largest group of Bricktown users, but they are purpose-driven. They come down here to go to a place...a restaurant, a bar, the movies, a game, whatever. Then they usually go home. Nothing specifically wrong with that, they just aren't explorers/lingerers. Visitors tend to wander, stroll, etc., but they are heavily concentrated during fair-weather months and still make up the smaller portion of users.
Therefore, the canal is most heavily used by only a portion of Bricktown visitors, and for only a portion of the year. Yet, if it became the best way to walk place to place, locals would ALSO use it. At that point, the development would take care of itself.
Another challenge is the sheer square footage in most of those older buildings, and it is deep space. You can more easily break the space up at street level, but at canal level you need to find a tenant for 6K to 10K OR find a creative way to get people into the dark reaches of the backs of those spaces. Fortunately there have been a few wins along the way - Bourbon Street, Put A Cork In It, Pinots Palette, Captain Norm's - but they have for the most part still had to work harder than the tenants at street level. I can tell you for a fact that Oklahoma's Red Dirt Emporium is far more successful at street level than it was when we owned it, located on canal level. The difference in casual traffic is astronomical.
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