Results 1 to 4 of 4

Thread: Town Center

  1. #1
    Join Date
    Dec 2005
    Posts
    44

    Default Town Center

    I have not posted here in a long time, but I do seem to remember how.

    Does anyone know why the Town Center development has so many store fronts that appear to be permanently vacant, not to mention the dearth of interesting stores? Disclaimer: I was one of the relatively small number of people in town that opposed the development for reasons that wouldn't be helpful to go into. However, the minute that it was approved by Town Meeting, I became a proponent of it, because this is where I have lived for 26 years, and I very much wanted it to succeed. Although it has my favorite restaurant (Takara) and I patronize both Stop & Shop and Ace Hardware, I am very disappointed in it, and I'm wondering if anyone out there has any insight into what has gone wrong.

  2. #2
    Join Date
    Dec 2018
    Posts
    3

    Default

    A shopkeeper's rent includes Town real estate tax. Higher the tax, higher the rent. Higher the rent, poorer the shopkeeper, until he/she decides to move to where rents are cheaper. As shops go vacant, customers flee to strip malls that are robust, and our town commercial tax base declines, causing a tax rate increase. So shall we good townspeople hold down the tax rate? Or shall we pass the upcoming multi-million $ debt exclusion articles for athletic facilities?

  3. #3
    Join Date
    Jan 2007
    Posts
    7

    Default

    While tax rates are a factor in the success of a commercial development, they aren't the only one. Sudbury's taxes aren't significantly lower than Wayland's, yet they seem to have multiple, thriving developments.

    Lacking any first or second hand knowledge of the specific issues affecting Wayland's Town Center, I came across this article: http://rjbrunelli.com/the-ten-most-c...r-development/

    A few pitfalls seem to apply to the WTC- most notably visibility. There are other, harder to assess factors, but I suspect all factors that the WTC falls short on have more of an effect than the tax rates.
    Last edited by KenPaul; 01-09-2019 at 08:48 PM.

  4. #4
    Join Date
    Dec 2018
    Posts
    3

    Default

    While visibility may indeed be a factor for the failure of stores at Wayland Town Center, the Wayland Village Plaza, which formerly housed Whole Foods Supermarket, sits on Rt. 20 and has high visibility, yet has vacant stores. See: http://katzproperties.propertycapsul...lage/#overview

    True, various factors may be responsible for poor prospects at both Town Center and Village Plaza, but the cost of doing business must be prominent. That includes the onerous weight of high property tax rates and sewer betterments.

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •