Sunday, March 7, 2021

Pop-Up Real Estate

 We know that office space is now offered in co-working spaces, with shared amenities.  Both VRBO and Airbnb are the same concept for residential living.  While we have seen pop-up restaurants and other retail in cities, it seems to be a concept that may evolve further.

Once the population of the US begins to approach herd immunity with vaccinations, states and cities will ease restrictions.  Many people want to be in a restaurant, but there will still be occupancy limits in many places.  To fulfill that demand, and the demand for other retail, we may see a lot more shared space.  So not only pop-ups in empty spaces, but shared spaces.

We've seen that work in churches, where congregations will share one building, and hold services in the same sanctuary at different times.  Why not the same in restaurants?  Beauty salons?  Entertainment venues?  Retail generally?  Landlords may become a lot more flexible, and entrepreneurs who have been waiting for the economy to open up may be able to ply their wares with less risk that way.  It makes sense, especially for anything where there are fixed costs of operation and equipment, so that use by more than one owner will cut down the overhead.

How about a brunch pop-up in a restaurant only open for dinner?  How about a family cafe in a neighborhood watering hole?  This would require cities and states to be flexible about use of space with liquor permits, for example, but would help urban areas to be more trafficked at all times of the day.  What about food carts and beer carts on weekend nights in dog parks or parking lots?  

As we all wait for life to return to normal, let's stop and think how the future could be even better than normal.  


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