beautyfromashes wrote: ↑Sat Nov 19, 2022 2:19 pm
DColeKC wrote: ↑Sat Nov 19, 2022 1:09 pm
Impressed you've made it this long if you can't see how locating two similar, tax subsidized projects near each other with competing elements might be problematic.
Regardless, glad I could set you free.
One more time, I'm specifically talking about the entertainment/bar/restaurant aspect of the Royals development. Not office or residential where competition can be helpful since there's room, demand and the need for more downtown residents.
Personally, I think Cordish has had it too easy. Some competition would do them good and I think they would respond well. They might have less people in the Live district ordering trays of shots and listening to bad dj music, but they'd adjust and utilize more of the district that's currently being wasted. Instead of focusing on the easy cream, they'd fill the district using every possible space. They'd open rooftops to maximize income. They'd cut rents to attract every possible tenant using volume instead of high margin. Perhaps, the Royals entertainment district would focus on a different clientele with more retail or high-end restaurants instead of bar-fare. P&L for the young single people and divorcees and Royals district for couples on dates. With DT growing Cordish is going to have more competition at some point soon. I'm glad, if what you say is true, that they are starting to actually dig for some new tenants and push demand. I wish that would have happened 15 years ago but at least it's happening. They sure haven't done enough to demand some kind of rights over downtown in any capacity. Competition is always better for growth.
You think the one developer who was willing to risk millions of their own dollars on this project when downtown was garbage has had it too easy? Sounds pretty typical, "what have you done for me lately" bullshit to me. I don't think competition shouldn't be allowed, it's been allowed since the beginning and many other developers have benefited from Cordish being the first ones in.
Your poor description of what you think happens there with the "trays of shots and bad dj music" is telling. You've either not gone there over the last several years or you're old and not the demographic that finds high energy nightlife appealing. Either way, you're a fool to think this is unique to PNL.
they'd adjust and utilize more of the district that's currently being wasted.
What area is being wasted? You think they're purposely leaving revenue on the table?
They'd cut rents to attract every possible tenant using volume instead of high margin
So uniformed and speculative. Odd that you make such bold comments without having a single bit of evidence to back it up. They already do this. Every single lease is independently negotiable and they all involve lower monthly rent with a profit sharing component once a certain VOLUME is met. How do you think local operators can afford to be in PNL if rent is so high?
Perhaps, the Royals entertainment district would focus on a different clientele with more retail or high-end restaurants instead of bar-fare.
You're right, Bristol, 801 Chophouse, BRGR = Bar-fare
P&L for the young single people and divorcees and Royals district for couples on dates.
This is just ignorant. Another clear indication you're not a frequent customer of PNL. Every time I go there, even on event nights, I see people from all ages and walks of life. Of course it can skew younger because well, more younger people go out drinking than older people.
They sure haven't done enough to demand some kind of rights over downtown in any capacity.
I don't think any developer can do enough to demand rights over a certain area unless they control the land. Cordish has certainly done enough to help lay the groundwork that now allows downtown the opportunity to even be considering a downtown baseball stadium. I know I'm pro cordish but you can't realistic be on the opinion, fuck them, they don't deserve any consideration.
Competition is always better for growth.
Probably the most telling comment you've made to be able to assess your business acumen. It's "always" better huh? If the demand isn't there, it decreases a companies market share and available customer base.