On the fourth corner, painters surround a classic structure, creating gleaming doors and promise for the future. Michael Brown, partner in Marley Management with Reuben Croll of Montreal, who owns all four of the buildings, sees enormous opportunity emerging for small retailers in the area. Twenty-one new businesses have opened since he began working to develop this area in 1995. Thirty new condominium apartments have been developed above the new Gap and Banana Republic stores. The chain retailers bring foot traffic to the area he says, and offices and residential space definitely bring patrons to the downtown area.
Some people complain about the chains, contending that they take business from the little guys.
But Brown believes that there is a synergistic effect in more shopping options for tourists and residents alike. Strength of numbers downtown will compete against malls and shopping centers outside the city. They bore names like J.C. Penney, Woolworth and Kress. Brown believes that the only reason some small businesses might not succeed in the new era on Broughton Street is that some won't keep up with the times, keeping stores fresh and attractive. Merchandising is the key, he adds.