Is Central Street ready for Panera?

Scared of cookie cutter chain stores making downtown Wellesley go from extraordinary to ordinary? 

Sorry, get ready for Panera, it’s coming soon.  You love Panera?  That’s good because there are going to be lots of Panera type operations – GET FREE WI FI WITH EVERY ALMOST FRESHLY MADE SANDWICH!

Central Street should be getting ready for lots of chain stores and chain restaurants.

Does anyone care?

Look at the vacancies on Central Street and there are more coming. 

Why the vacancies?

1. The general economy is bad.  But, hey Wellesley is still Wellesley.

2. The rents are $50 ++ per square foot.  This means that the GAP can pay the freight but a Mom and Pop clothing store – no way.  This also means that small chains like Rugged Bear can’t make it here.

3. And, back to the parking.  There is too little parking.  Of course, raising the parking meter rates is beyond stupid.  If you want the downtown to survive, you need MORE parking.   You do not need to punish and tax the dwindling existing customer base.

So, create more parking. 

This means double decking a  lot or two.  This building a parking garage.  This means capturing some of the land from the railroad.  This means doing a deal with Wellesley college.

Of course, without a benign dictator running town government, nothing will be done beyond head scratching and lamenting. 

How about a study committee?  How about spending $50,000 and  hiring consultants to tell us what we already know?

The time to act was  ten  years ago.  Now, sadly, the old downtown Wellesley may be gone forever. 

Onward to Linden Street!  Linden Street stores have plenty of parking, don’t they?

About Bill

ABOUT Bill Bill FitzPatrick has been a resident of Wellesley for over fifty years. He graduated from St. Paul’s School and Wellesley High School. He earned a bachelor’s degree from UMass and a master’s degree from Boston College. He has taught courses and written articles for the National Association of Realtors®. For many years, Bill was the principal writer and editor of two of the nation’s leading business newsletters, Investing in Real Estate and the Homeowner’s Advisory Letter. Bill is also the author of the online real estate real estate investing course Master Real Estate. Bill is the founder of both Wellesley Real Estate and the non-profit American Success Institute http://www.Success.org. Having bought, sold, and renovated many properties himself, Bill has negotiated hundreds of real estate transactions. Selecting Wellesley Real Estate, you will have the opportunity to deal personally with Bill. Friendly and relaxed, Bill listens. From discovery through closing and beyond, Bill’s integrity, patience, diligence and critical eye ensures that he will be your personal advocate throughout the process of finding or marketing your Wellesley home.
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