In Downtown San Luis Obispo, you may have noticed empty storefronts and some notices of businesses closing.
Is this a cause for concern for our local economy?
Downtown SLO’s new CEO, LeBren Harris, says looks can be deceiving.
“The bigger stores that are vacant do not tell the entire story,” Harris said.
The old Ross Dress for Less location on Higuera Street closed nearly 2 years ago in 2022.
Right next door, the Beverly Fabrics location closed in 2020 after 48 years of operation.
And both storefronts are still vacant.
Harris explained, “The larger storefronts are the ones that make it look like it is empty. But in reality, we are looking at a much better position than most downtown communities.“
According to Harris, there's an 8% vacancy rate out of 400 businesses downtown.
She said 37 new businesses opened last year and despite some closing, she says local business is thriving.
“We can tell with the increase in the numbers that we receive with our sales tax revenue and we are continuously up,“ Harris said.
Higuera Street Tattoo opened its doors just last month and owner Woods Bramble takes no issue with the empty spaces downtown.
“From what I’ve seen, the area seems to be on an upswing,” Bramble said.
Bramble has been in business in other cities and has high hopes for his newest location.
“Personally, I’m not worried about it at all," Bramble said. "Even the places that I've had in LA and Seattle didn’t have anywhere near the foot traffic that I have here.”
He added, “It’s large enough that businesses can make money here, but it’s also small enough that it's not overwrought with the problems that come with major metropolitan areas.”
Harris would agree and hopes to continue bringing in new businesses, like Bramble’s, to enrich the downtown area.
“Growth is my goal," Harris said. "Growth in visibility, growth in revenue to be able to pour back into this organization and growth for this community.”
