PINELLAS COUNTY, Fla. — Rising apartment rents are something we've been talking about for months…but one area that hasn't gotten as much attention is the rise in commercial rents for local businesses. It's the price.
Many business owners say rents have increased significantly and are now urging residents and visitors to shop local.
Mary Clark owns Shoreline Sugars Boutique in downtown St. Petersburg.
“St. Pete has become a very popular spot, a hot commodity, and everyone wants to be here,” Clark said.
She said supporting local businesses is a top priority for her.
“These are your neighbors and your friends. When you come here, we know your name, we know your size, and we know your weekend plans. ” Clark said.
Downtown St. Petersburg is now filled with many local businesses, some newer than others…and not necessarily for the best reasons.
Megan Garcia Cooper, owner of St. Petersburg's Bluetique, said, “Almost every week when I open Instagram, I see a store closing or moving from this Central Avenue area, where rents are likely to be the highest.'' I see it happening,” he said.
Garcia-Cooper said rents for local businesses have increased significantly over the past four years.
“St. Pete has taken a huge hit over the last few years, especially during COVID, when people came here from up north and rents and everything else really went up,” she said.
Joe Norton, owner of Three Dog Bakery, said rising rents are causing problems.
“Profit margins are being squeezed, so you just think about other ways to run a successful business,” Norton said.
St. Pete is loved by many for its unique mom-and-pop shops, but how can we keep it that way?
“If our community doesn't actively support local businesses, we will lose what makes St. Pete local,” said Olga Boff, founder of an organization called Keep St. Pete Local. ” he said.
Bof is hosting a big event this weekend aimed at highlighting local businesses… aptly called Localtopia.
“It's like over 300 businesses that need continuity support to join Localtopia next year and hopefully stay there,” Boff said.
But shopping locally on the weekends isn't the answer.
Local business owners said they want some intervention from city leaders.
“I think there will be some level of rent control, but I’m not entirely sure how achievable that is…and I think it’s possible to renovate new buildings and keep people who are signing up locally, and to make sure that the local I think it's just a matter of prioritizing people in those retail stores,'' Clark said.
The City of St. Pete has ended funding for the Fighting Chances Fund, which helps local businesses weather the pandemic.
But city leaders added that the first stop for struggling business owners should be The Greenhouse, which provides micro-finances to small businesses and supports business development.
Mr Clark is urging everyone to shop local now more than ever.
“These dollars stay in local communities and we need those dollars to circulate,” Clark said.
