Disaster. it will be interesting to see how we find ways to spread
economic pain if we want to keep things intact once this is said and done.
Most of what we're talking about here is brick and mortar retail / dining, entertainment, travel, health and wellness, etc. Many small businesses across that landscape- from retail to shops to restaurants to bars to child care to barber shops and all sorts of things in between.
Stakeholders up and down these economic chains are going to have to figure things out, or we'll end up with a number of boarded up properties- which wouldn't be good for anyone. Most of the fixed operating cost is generally rent, labor, facilities, insurance, etc.... no money coming in, labor is the easiest to cut. Let's look at the other stuff though... property managers, building owners, the holders of developers' debt, etc, etc. Will there be a concerted effort to manage through this cycle or no? Probably depends on how long it goes on.
Assuming there are places to work, labor is also the easiest to scale back up. Unless RVA is planning to shutter the botanical gardens or dramatically alter its operating model, it will need to bring people back.
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In response to this post by graycalhoo)
Posted: 04/01/2020 at 1:00PM