The Corey Story

My random wanderings and things I find entertaining

Mississippi Avenue reflects retail story in Portland

Posted by Corey Kaster on April 19, 2010

April 11 2010

The Sunday Oregonian

Full page, front page Business section

“Welcome to Mississippi…An avenue filled with possibilities”

By Laura Gunderson

Article Theme:

“The Mississippi Avenue Business District has continued to grow in a down economy.”

Data:

2,366: Households within a half-mile of N. Mississippi Avenue

$44,064: Median household income within a half-mile of N. Mississippi Avenue

$364,599: Median home value within a half-mile of N. Mississippi Avenue

Hallmarks of the “Mississippi Mystique”:

The historic North Portland district has attracted

First-time business owners, many of them women

Retailers that have expanded, backed by federal recovery loans

Experienced operators opening their second, third or even fourth shops

Long-time operators who know they gain the benefits of an established neighborhood

along with the buzz of a street considered one of Portland’s newest finds

Much of the entrepreneurial excitement is over

Lease rates that have remained relatively flat

A lineup of locally owned businesses, with owners often found behind the till

A strong business group (Historic Mississippi Avenue Business Association)

that organizes several well-advertised annual events

Case Studies:

Real estate experts say some of North Mississippi Avenue’s success comes from the fact that many of its business owners live in the neighborhood and understand its needs

Tupelo Alley is a new residential building that has reached 86% occupancy in the first year. They expect 95% of its 188 apartments to be leased by next month.

Mississippi Pizza, one the street’s oldest restaurants, had its best sales year in 2009 – besting former record holder 2007 by 8 percentage points.

Restaurateur Karen Harding of Cup & Saucer (who will open her fourth location on Mississippi this spring) says she’s looking forward to being a part of a business community that feels particularly supportive and active. “I’m inspired by what Mississippi has done — the big and the small events,” she says. “I’m inspired by it, want to be a part of it and want to learn from it.”

The non-profit group Northwest Dance Project feels connected not only to neighbors — some who now take dance classes– but also the active bunch of business owners. Director Sarah Slipper loves the community feel of people strolling by, stopping to look and sometimes popping in to watch a class or rehearsal.

Link to article:

(Some of the data above is from the print version, not reproduced online)

http://www.oregonlive.com/business/index.ssf/2010/04/mississippi_avenue_reflects_re.html

There is office space for rent on this hopping street

right in the Q Center. Click here for more info!

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4 Responses to “Mississippi Avenue reflects retail story in Portland”

  1. Dave Ballance said

    Nice to see some good news for a change.

  2. limewire said

    wow nice story dude.

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