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Greenwich Avenue: A Sign of Better Times

Looking for what is ahead for our economy this year, it seems there is just one certainty, and that is there is no certainty. While forecasts by economists have been described as making astrologists look good, the soothsayers are at least united at this time in embracing uncertainty. The good news, if you can call it that, is that none believe things will be as bad as they were this time a year ago.

For our local area, however, a good barometer indicating that recovery may be on its way is in the number of new store openings and leasing activity in our business areas. According to Marshal Heaven, a long-time commercial broker, there were ten vacant stores in central Greenwich earlier last year, and half of those have since been leased or are in final negotiation. And, with the decline of 20 percent in average lease prices, he says a lot more people are looking around for prime locations. This is not surprising. Says Steve Westerberg of First Service Williams Commercial Real Estate, “As a shopping destination, Greenwich Avenue is supported by the strongest consumer base any retailer could wish for.”

Our editors have confirmed that there has been a rash of new retail store openings. In our last December issue they reported on five new stores on Greenwich Avenue and Mason Street. Four more are reported in this issue, and we have since identified yet another seven new retailers that have opened in the past few months on the Avenue and elsewhere.

We walked Greenwich Avenue from top to bottom visiting the wide variety of shops new and old. The H. H. Brown Shoe Company, with headquarters here in Greenwich, opened a retail outlet between Lewis and Elm where Borders bookstore had been. Sutton & Sutton’s recently completed three-story building on the corner of Amergerone and Greenwich Avenue has acquired its first retail tenant. It will be (would you believe?) a bank! The Citizen’s Bank is a subsidiary of RBS. And at 88 Greenwich Avenue, where Shabby Chic had been, a sign in the window anounces the coming of the new Kimara Ahnert Makeup Studio.

Most newsworthy was the brand new Ralph Lauren store at 263 Greenwich Avenue where the Gap used to be, and on the opposite side the Apple store where the movie theater had been since time immemorial.

After razing the one-story building, Ralph Lauren has constructed a beautiful two-story building of classic design and proportions. It is classic inside and out. Not since Mitchells created the new Richards or the opening of the Saks Fifth Avenue store has there been anything to compare with the grandeur and elegance of the new Ralph Lauren, and we recommend a tour of it. We asked a sales person if there were any other Ralph Lauren stores like it, and after a pause she said, “Well, maybe in Milan.” It is a vote of confidence in Greenwich that this important high-end retailer would make such a large investment in our prime shopping area.

Apple stores in the Stamford Mall and in White Plains attract crowds that are the envy of any retailer, and you can’t help but wonder if there is room for another between these two nearby destinations. Wonder no more! We found the Greenwich store packed with earnest etherneters, computer nerds and just plain folks like us struggling to get a grip on the digital world. You enter a wide-open high-tech arena and are greeted by polite eager-to-help sales people. It is as modern and functional as Ralph Lauren is elegant and high fashion.

No doubt Ralph Lauren and Apple attract quite different clientele, but both should prove to be strong magnets drawing people to the Avenue and to the wide assortment of stores and product lines available throughout our central business district. New stores reflect changing tastes and lifestyles, and change helps assure the continued vitality and relevance of a shopping area.

But, it is also heartwarming to see some of our old favorites survive and prosper during hard economic times. Ending our walk down the Avenue, we made a special point of stopping in at Ron Cavalier’s art gallery and chat with the owner. We can’t think of a place where you will find more exciting, varied and often unique art and sculpture. In business for thirty years, Ron began as a purveyor of sculpture and has a connoisseur’s eye for quality. He is also responsible for much of the sometimes whimsical statuary that graces our public places.

When the weather turns warmer, take some time and stroll down the Avenue. We think you will find it interesting and enjoyable. You might even end up helping our economic recovery by finding something you just have to buy.

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