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Why Portland’s empty store fronts are causing a budget crisis
Home » Finance  »  Why Portland’s empty store fronts are causing a budget crisis
Cities in the US are finally seeing easing in office and retail vacancies after years of a post-pandemic crunch in the commercial real estate space. However, for mid-sized cities like Portland Oregon the story is a little different. Empty store fronts, vacant office buildings, and a struggling downtown isn't just an eye sore, its having a real impact on the city's bottom line. CNBC's Diana Olick talks the city's plans to bring foot traffic back to its downtown.
Cities in the US are finally seeing easing in office and retail vacancies after years of a post-pandemic crunch in the commercial real estate space. However, for mid-sized cities like Portland Oregon the story is a little different. Empty store fronts, vacant office buildings, and a struggling downtown isn't just an eye sore, its having a real impact on the city's bottom line. CNBC's Diana Olick talks the city's plans to bring foot traffic back to its downtown.