Main Street inventory: 118 businesses, 36 vacant storefronts; staff seeks council direction on reinvestment tools

Miss Thomas presented the completed Main Street District building inventory and retail marketplace analysis, telling council the district contains 160 structures, 118 operating businesses and 36 vacant storefronts.

"A total of 160 total structures. Businesses currently operating, 118. Vacant storefronts or suites, 36," she said, and added that 78% of visitors to the district originate within 10 miles. The staff analysis, based on data provided by the North Carolina Department of Commerce using Placer.ai and Claritas, estimated about $30,000,000 in annual retail leakage within a 10‑minute drive area; staff said capturing 10% of that leakage could return roughly $3,000,000 to local businesses.

Staff categorized building exterior condition as 92 in good condition, 59 fair and 9 poor, and said most vacant or distressed properties are tied to absentee ownership or lack of stewardship rather than broad structural failure. Miss Thomas asked council for direction to explore voluntary improvement tools, owner engagement and options that support reinvestment, and to return with structured recommendations.

Council members asked about specific properties, including the Macquarie/McCroy building, and whether the city has recourse if a developer fails to complete work on a project that received city funds. Staff said financing and developer timelines are still in progress and offered to provide the file or an update at the next meeting.

Miss Thomas also invited council to the Main Street Advisory Committee meeting and said staff will email the full report to council.