Highland Row, the beloved Poncey-Highland go-to for mid-century modern furniture and weekend window shopping, has joined the list of locally grown indies to close.
Why it matters: The news raises the question: What options do small local and longtime businesses — which often help craft a city’s identity — have to survive in an increasingly pricy market other than “make more money?”
Driving the news: Over the weekend, the antique shop announced it was closing down, saying that Canvas Companies, the developer rebooting the retail strip and nearby Highland Inn, hiked rents by 450%.
What they’re saying: Canvas Companies’ managing partner Benjamin McLoughlin tells Axios that Highland Row’s longtime lease did “not even cover the operating expenses of the property, let alone a profit for the landlord” and that the building needs repairs. The two sides tried to find a solution, he says.
- In April, McLoughlin says, Highland Row told Canvas they would close when the store’s lease ended at…
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