It is five in the afternoon, in the corner of Vesey and Church Street. Majority of the people pacing on the street are trying to catch the New Jersey Path trains or the Subway to go home, after a long day of work. After 8pm, in that same corner, it is lifeless. It has been like that since September 11, but just recently, the new World Trade Center Hub operated by Westfield Properties opened and last year Brookfield Place opened as well. They have major brand stores like Cole Hann, Apple, Forever 21, Gucci and etc, are operated inside the Hub and brookfield.
Businesses are booming again in that section Lower Manhattan after 15 years. According to Market Watch, Westfield properties expect the World Trade Center mall to be the most productive shopping center in its portfolio and generate up to one billion in annual sales. It expects almost 100 million customer visits a year to the mall, taking its total customer visits each year to half a billion, a 25% increase.
However, as the neighborhood is growing, a lot of small businesses in the area that have been there before or after September 11th for years are worried of the rise rents or losing consumers.
Soon Interviews with small business owners, more statistics.