- City officials discussing possibility of short-term leases with building owners to help fill empty storefronts in downtown New London
- Public-private partnership would have goal of supporting new ventures and improving foot traffic at existing venues
- Similar program in 2014 resulted in some successful ventures, although they later moved out of downtown
In many ways, the downtown area of New London, Connecticut, is well-positioned for the revitalization so often sought by urban areas. It includes a popular performing arts center, a maritime museum, and several shops, art galleries, and restaurants, all easily accessible not only by vehicle but also by train or ferry. At the same time, numerous storefronts in the downtown area remain conspicuously empty.
City officials are hoping to address this issue by partnering with downtown building owners for a new pop-up shop program. Building owners would offer short-term leases at below-market rates to attract new businesses, while the city would act as an agent for interested entrepreneurs and possibly offer rental assistance to reduce risk.
The program would address the heightened challenges new businesses face in borrowing funds to start a venture, while also assisting established businesses by increasing downtown foot traffic. New London’s economic development coordinator is also hoping to establish a series of events to bring visitors downtown.
New London launched a similar program in 2014 which had mixed success. Some businesses became established downtown tenants following their trial period, but many of these later moved to other neighborhoods in the city or to other communities.
