It’s time to reinvent the Broadway Market

THE EDITORIAL BOARD

 

With talk of redeveloping the Old Central Terminal, which has been under the control of Hamilton developer Harry Stinson, who claims that he preparing the building for mixed use redevelopment. Skeptics site his unfilled promise to redevelop the Hotel Niagara, which he sold to Empire State Development earlier this year for over $4 million.

Some wonder if the same will happen with the Central Terminal.

In order for any redevelopment of the Terminal to work, the community must first do something that creates catalytic forward movement in terms of market interest and socio-spatial feel.

It is time to demolish the Broadway Market.

The Broadway Market has become a symbol of dysfunction and decline. It’s time for everyone to stop treating it as a mark of pride, and actually redevelop it into something we can be proud of. At this point, the only thing that current levels of consumer spending at the site will bear is an open air public space that hosts a seasonal Easter market.

As it exists now, the Broadway Market suppresses the property values of surrounding properties (not only because it is an eyesore, but also because it floods the neighborhood with unused low-cost space, which contributes to many vacant storefronts on Fillmore and Broadway).

The city is plainly incompetent of having a managerial role in such a real estate interest. Instead, the City should actively relocate those tenants into the vacant storefronts that line Broadway and Fillmore. Filling those storefronts will help to make those properties viable for reinvestment and returnable to the tax rolls.

Despite the structure’s demolition, the “The Broadway Market” brand will not die. The public square and a seasonal outdoor holiday market will undoubtedly embrace and propagate the goodwill and nostalgia of that is at the core of the brand.

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