Is the new Media Borough Zoning Ordinance responsible for the 17 commercial vacancies in the downtown business district?
After the much awaited opening of the New Orleans Cafe and Iron Hill Pub, which are without a doubt exceptional assets to the business community, you would expect some reduction in the number of vacant storefronts, but that dosen't appear to be the case.
What's the problem?
"For Lease" and "sale" signs along with vacant store fronts are the first sign of a community's economic decline.
Based on my interpretation of the amendment any new occupant must be "retail" and by the borough definition that excludes commercial or professional business people. Simply put, if you're a doctor, lawyer, stockbroker or real estate professional, you can forget about leasing space in the downtown business district.
According to the latest census, Delaware County is the only suburban county in the entire Delaware Valley metropolitan statistical area (MSA), the fifth largest in the United States, to have lost population. Media is the government seat of Delaware County. If the county is in decline and there are 17 vacant properties in the business district, why not create a zoning ordinance that is so inclusionary that any and all legal commercial uses would be welcome.
I estimate that 90 percent of the business conducted on a daily basis is attributable to the county government, not because of the view of the Manayunk canal or the Schuylkill River.
Why the exclusionary ordinance? What's the borough's motive? I don't know. I do know the ordinance has placed a heavy burden on owners of commercial property. By restricting commercial tenants to "retail use" they narrowed a market that was too narrow to begin with.
This unduly restrictive ordinance will cause financial hardship to commercial property owners should they attempt to sell. Any commercial property where the prospective buyer intends to change the previous use may not be permitted under the ordinance; or it could be so costly to occupy it may not be financially feasible for the purchaser.
Every property owner should be aware that, if you are required to install a fire sprinkler system in your property to obtain an occupancy permit, the connection charge from the water company is $5,000. Then you get a quote from the sprinkler installer.
The borough's "retail only tenants" policy makes renting or selling property in the business district, even in the hottest real estate market in a decade, a challenge.
Whether the borough is aware or even cares, just because a property is vacant does not mean the owner's mortgage payment, real estate tax bill, fire insurance, maintenance or utility bills stop. The burden of carrying a vacant or non-rent paying property is heavy. Keep in mind, "lost rent is lost forever." Commercial property that is made difficult to lease is also difficult to sell.
A very insightful event occured in the county recently. President Judge Joseph F. Battle determined that a property owner could be compensated for his loses because a township deprived him of his property rights.
From my viewpoint, Media Borough has in effect created a de facto taking of the property rights of commercial property owners affected by this ordinance.
For the good of all residents and property owners in this seat of county government, this temporary ordinance should be repealed immediately and the borough should welcome all businesspeople - whether they are selling slices of pizza or omelets, blue chip stock or legal advice. |
