Friday, November 8, 2013

Mt. Vernon / Dunwoody Club Blockbuster Video to become a Chase Bank

I started getting questions late this afternoon about fences going up around the long vacant Blockbuster Video Store on Mt. Vernon as people were excited to know what was going on.

After I informed them that another bank was entering the community, the excitement usually faded. 

The property is zoned neighborhood shopping / commercial and the owner of the land can develop it as he sees fit within the allowances of the zoning code and a bank is an allowable use for the area.

1 comment:

Joe Seconder said...

Two points:

#1: I'd also take this up with the city attorney: Other municipalities in the US put restrictions on particular uses in Commercial areas. Has he question ever been asked, "Can we put a formula to the number of Banks by location, etc. in our city limits?"

In 10-15 years, we will be left with a plethora of abandoned brick & mortar banks. Gen Y / Millennials don't use walk in banks. I've been inside a bank once in the past 2-3 years, as I do all my banking on line...

#2: Let's write an incentive into our code that gives some type of credit to the property owner of a retail / business space to keep it occupied. It's the carrot, not the stick.

By having the old ACE empty for these many years, and receiving rent payments from Kroger indefinitely, the owner has ZERO incentives to improve, update or to aggressively find a new tenant (or tenants) for that space. And in keeping the property occupied, it keeps a steady flow of business tax revenue to the city; continues to serve the community; provides for local employment choices; and offers the chance for locally-owned small business owners to stay in our city