Aspen looks at supporting local retail

From "A Rocky Mountain High-End Problem: Aspen Considers LimitingLuxury Retailers in an EffortTo Revive Its Faded Charm," in the Wall Street Journal:

Among measures the council is considering are caps on the number of luxury chains and jewelry stores allowed downtown. It is also mulling subsidizing at-risk stores deemed "essential commercial uses," like pharmacies and laundromats. That assistance could entail public-private partnerships that defray rent or incentives for developers to build ancillary space, such as basements or second floors, that could be occupied by local retailers.

Should the council opt to freeze the number of luxury chains downtown -- a plan favored by Aspen city planners -- new luxury stores will be allowed only if another leaves.

Many downtown property owners oppose restrictions. Landlords view chain stores as financially stable tenants, and Aspen is a prized location. Even with owners charging top dollar, vacancies are few and short-lived, says developer Stephen Marcus. Mr. Marcus controls 50,000 square feet of retail property downtown, including space rented by a designer-brand Malo apparel store and a high-end Waterworks plumbing-fixtures store.