Downtown Traverse City short on space for incoming businesses

For nearly 20 business owners finding a place to set up shop in downtown Traverse City means waiting because there is no space available. /upnorthlive.com photo

TRAVERSE CITY -- For nearly 20 business owners finding a place to set up shop in downtown Traverse City means waiting because there is no space available. Downtown leaders say the demand is at a ten year high.

Downtown leaders say it's a good problem to have and empty spaces could soon be a construction site to add more square footage to downtown.

You always need to have those new things, those new businesses, those new places to go to keep it fresh and exciting, said Rob Bacigalupi, Downtown Development Authority Executive Director.

Finding a way into the downtown Traverse City marketplace is proving to be a challenge for nearly 20 businesses.

Anybody that is looking to locate a business downtown or even those who are already downtown but want to expand have a very difficult time finding space.

Aside from the newly opened Franklin restaurant, downtown retail space hasn't been added in several years.

The demand has risen after a short slump during the 2008 recession.

It actually speaks to how attractive and viable downtown is for shoppers already people already want to shop here and therefore the shops want to be here.

Right now the vacancy rate is at 3.2 percent. Downtown leaders say they prefer to be anywhere from four to eight percent.

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Downtown Traverse City short on space for incoming businesses