Cool Streets are shifting from being a new crop of retail districts emerging in North America to something even further and wider… Since our first report in 2016, there has been an explosion of overall growth (including Cool Street neighborhoods) in secondary and tertiary metropolitan areas. While Cool Streets remain strong in large, primary markets and so-called “24-hour” cities like Boston, Chicago, Los Angeles, New York City, San Francisco, Seattle and Toronto, affordable housing and employment are driving the 18-Hour Cool Street in cities like Boise, Charlotte, Denver, Nashville, Portland, Salt Lake City and Tampa.
Download our latest Cool Streets report and interactive map to learn more about the rise of the 18-Hour Cool Street driven by persistent urban renewal. Though “upstart” neighborhoods in some markets were unexpected, the trend will continue. Expect to see growth in neighborhoods that share characteristics such as:
- New residential hot spots, some of which were defunct warehouse or commercial districts
- Neighborhoods in transition
- In-migration of millennial professionals
- Rewriting the traditional tenant mix in terms of these new alternative retail districts
They’re not high streets or main streets. They are what we call COOL STREETS.
Garrick Brown serves as Vice President, Retail Intelligence for Cushman & Wakefield throughout the Americas. He is one of the leading retail real estate analysts in the United States; speaking frequently at industry events and regularly quoted on retail matters by the Wall Street Journal, the CBS Evening News, NBC News, CNBC, National Public Radio, Women’s Wear Daily and dozens of Business Journals and other industry publications.