Archive for September, 2008

Business, Development and Real Estate in Chestnut Hill according to Sanjiv Jain, Part 2

Monday, September 15th, 2008

Restaurants are the easiest way to revitalize a business district!  Many upscale communities and towns, like Alhambra, CA have discovered this is one of the most effective ways to revitalize, maintain or raise the level of the area.  People that have had success in one community, like South Beach in Miami, Fl are now able to duplicate what works in other communities like the Miami Design District.  Even in Haddonfield, NJ (2004 Best of Philly: Revived Shopping District)  Restaurants played a critical role.

It is restaurants that can create traffic, the traffic brings retailers and then it is simple math….  The higher the demand, and since real estate is fairly limited in supply, the price goes up!  It is a developers/investors dream - rents go up, as rents go up, values go up.  Everyone wins! The community, neighboring businesses, property owners, investors and most importantly the Consumer!

After spending several years in Chestnut Hill being on most of the Boards and Committees (Business Association, Marketing Committee, Business Improvement District VP, Parking Foundation, Community Association VP, Aesthetics, Development and Review, Physical Division VP) I have personally seen so many reports and surveys that say the same thing - More Restaurants!

Having personally brought the Chestnut Hill Coffee Company, Bocelli’s Fine Italian Cuisine, Cuba Restaurant and Gallery all on the 8600 block of Germantown Ave. - I can see the difference it has made in bringing more foot traffic to Chestnut Hill.  This is one of the benefits of being an owner, investor & developer.  The Community Response has been powerfully positive!  This is especially evidenced by all the customers that are coming to these restaurants.

Restaurants bring people out to enjoy the finer things in life!  The simpler things that create fulfilment.  A good meal with family, friends, business associates.  A great cup of coffee, along with a bag of freshly roasted coffee beans (that were roasted on site on the 2nd floor) at a place that has now received International Recognition as a premier botique roastery.  In a location like Chestnut Hill, Upscale Restaurants and an award winning Cafe (Chestnut Hill Coffee Company) provide for more of the Community meeting, greeting and congregating.  It means people don’t have to leave their neighborhood to get fulfilled and they can bring others to their own community.

Want to make a difference and make money - look for opportunities like this to capitalize on where everyone wins!