I think our downtown faces an additional barrier to retail development in being too far east on the east-west continuum of the Metro Area. While I'm not sure of how many people from the St. Clair and Madison Counties would be willing to cross the bridge (either the Poplar or the Eads) to frequent a downtown chain retailer, an Illinois contingent would surely at this point be necessary for downtown retail development.
Our downtown will simply not attract people from too far away to patronize its chain stores. St. Louis Centre was a lesson to everyone that downtown retail is a difficult venture without sufficient density. And population density is not necessarly the only measure for retail success indicators--income density is far more important.
For example:
Within a one mile radius of the intersection of Tucker and Market, there are 9,944 people, with a population density of 3,077 people per square mile
(Source). Household income per square mile stands at $52,399,535.
When you expand to a three mile radius, the population jumps to 93,141, and the density increases slightly to 3,248 per square mile--but the aggregate income per square mile falls to $42,998,394. This is probably because now you're including a somewhat more impoverished population of the North Side and Central Corridor to the figures.
However, we have to ask ourselves, will these people at the end of the radius even travel downtown to shop? Might they already have their own neighborhood stores? And, if they do not, won't this affect what kinds of stores go in to downtown? What I mean is that, if downtown has an insufficient population in and of itself to support a retail establishment (note the fairly small population within a 1 mile radius of downtown), won't downtown stores that do decide to locate there do so to serve whatever market is consistently patronizing their businesses? Or better yet, why not locate in a "better radius"--that is, one with higher aggregate income per square mile.
Let's take a look at the intersection of Hampton and Chippewa now to see if a Best Buy, Borders or other chain retailer would be better off locating in this already popular location instead.
At a one mile radius around the intersection of Hampton and Chippewa, we have 26,136 people with a density of 8,456 people per square mile. While most of us would consider downtown more "urban" than St. Louis Hills, the urban densities are elswhere in the city due to decentralizaton. The one-mile income figure is now $206,298,095! This number is significantly higher than downtown's. While downtown's demographics are certainly more in flux (toward a more well-off and dense population), this is a daunting gap to fill.
Now let's move out to a three mile radius:
Population: 174,146
Density: 6,278
Income: $125,836,830
Density takes a hit from the fact that the radius now includes less dense suburban municipalities to the southwest of St. Louis. Income takes a hit from the inclusion of south-central and parts of southeast City. Regardless, the income figure towers above the three mile radius around Tucker and Market.
So why would a business choose downtown over Chippewa/Hampton area? Well, I suppose there's plenty of available space and an untapped market that's bound to grow. However, the "safe" markets, even within the city, are those farther west in the area.
Finally, let's look at the income around the I-64/-170 interchange. The results here show the importance of "accessibility" or highway access. In a one mile radius around the intersection, population is only at 11,235 (comparable to downtown) and the income at $150,713,653 (significantly less than St. Louis Hills). The density is 4,028--between downtown and St. Louis Hills.
The three mile radius shows a population of 113,064, density of 3,889 per square mile, and income of $134,210,816. This location is considered prime location for retailers. We have the St. Louis Galleria, Brentwood Square, the Boulevard, and numerous other connected shopping centers all within a mile of the intersection. The lesson here is that this interchange is highly traversed and is seen as a central location--meaning that it is near the population center of the Metro Area. Note that within a
five mile radius of I-170 and I-64, there are 307,884 people. This location is not necessarily one of complete density in its immediate surroundings.
It's all about being farther west where more of the population is and having access from both sides of the Metro Area, east and west. Certainly many automobile-owning city residents frequent the Galleria just as often as Town and Countrians might (or maybe they go to the more upscale Plaza Frontenac?). With this in mind, downtown's got a while to go before it can support a chain. Its population base supports neighborhood establishments, but not so much regional retail. Yes, downtown gets an influx of around 80 or 90,000 workers a day, but these groups obviously do not support downtown retail after 5 p.m. or poor St. Louis Centre wouldn't be in the position it is today.
I do think there is something to be said of the "novelty" of having a chain downtown--whether we're talking Borders or Best Buy or Old Navy. People might see a retailer's decision to move downtown as a sign that downtown is viable, thus catalyzing further residential and business growth. That's the hope anyway.
Still, the numbers and the geographic location of downtown next to the Mighty Psychological Barrier (the Mississippi), combined with persisting (and unfounded) views of downtown as dangerous, work together to make it more of a retailer's risk than it should be.