Just found out why my neighborhood coffee shop shut down

So I live on Elm Street and that little coffee spot, Brew House, closed last month out of nowhere. I talked to the owner at the laundromat and he said the rent went up 40% after the new apartment complex went in across the street. He was paying $4,500 a month for that tiny space and just couldn't make it work anymore. Has anyone else in your city seen small places close cause of rent hikes like that?

3 comments

3 Comments

fisher.adam1mo agoMost Upvoted

Rent hikes are just city growth. Brew House probably just couldnt compete.

lucaslee1mo ago

Yeah nah "city growth" is a nice way to say "landlords saw a chance to cash in." I read somewhere that commercial leases in that area have been going up 15-20% every year for the last 3 years. That 40% jump isn't normal growth, that's straight up greed. Brew House was there for like 8 years, they weren't failing, they just got priced out like everyone else.

the_thomas1mo ago

Wait, was the rent $4,500 before the hike or after? The 40% jump on top of an already high number sounds brutal for a tiny coffee counter.