As seen on: NJ.com
By: Steve Strunsky
When Lynette Lashawn’s retail clothing business outgrew her Newark home, she couldn’t afford rent on city storefronts with decent walking traffic and had to open her Off the Hanger store in neighboring Bloomfield.
And while she and her partner did eventually move the store to Newark, Lashawn said she still hears fellow entrepreneurs complain about their rent, which makes up about 85% of her overhead.
So she welcomed what may be a first-of-its kind initiative by Newark Mayor Ras J. Baraka that’s poised for adoption by the City Council Wednesday. The measure is intended to encourage creation of affordable ground-floor retail space at the base of the apartment towers that have steadily gone up during Newark’s development boom of the past decade.
Continue Reading N.J.’s Largest City Has a Plan to Bring More Retail to Its Downtown