We wrote the other day about the growing vacancies in many of America’s cities owing to a a stumbling economy and a real estate market that is suffering from a glut of properties and no one who can afford them, but sometimes it takes an archetypal tale to truly drive the point home. Such is the case for one New Jersey family, who recently purchased a luxury condo in a 32-story tower located in Fort Myers, Florida, ironically called Oasis I. While the building may indeed be peaceful, it’s far from the fertile environment that the name suggests, considering that Victor [...]
Read more...July 30, 2009
July 13, 2009
No Longer Empty Reclaims Vacant Storefronts for Art
Vacant retail space is always a bit of a bummer, and now more than any time in the recent past, spots are closing their doors and clearing out as business diminishes and prospects dim. Seeking to make the most of the recession’s real estate pummeling, non-profit art group No Longer Empty is reclaiming empty storefront space and converting it into temporary art installations. The group describes their mission as one to alleviate bear market anxiety during the moribund New Gilded Age—to place beauty in the spatial vacuum of the crash. The project’s first two sites are in the lobby of [...]
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