What happens in cities if restaurants move?

That ecosystem is now under threat. Honey butter hangs in fried chicken. “The fried chicken sandwich is made for takeaway,” said Josh Kulp, who ventures with Christine Sikowski, a partner. But the parachute, which has a Michelin star, is making it stressful by selling food to go. Beverly Kim, who owns the restaurant with her co-chef and husband, Johnny Clark, said “$ 15,000 a week is a break-even.” “But last week we made $ 8,000; $ 6,000 this week. We are flinging money like crazy. “

Lula Cafe in Logan Square, about one and a half miles south, also has limited orders to take service and business is down about 80 percent. “Nobody’s losing money,” said Jason Hamel, a Brown graduate who relocated to Illinois in the 1990s to learn writing from David Foster Wallace, but finished a restaurant. “I can make it for two or three months,” he said, “but without federal aid I don’t know if I can survive the cold.”

Versions of this story are being repeated in restaurant after restaurant in urban America. In Atlanta, Michael Lennox opened Golden Eagle, an evening cocktail joint, and daytime taco shop Mucho at a former train depot in 2017 from which AMC Theater can be expected in a new development on the way to business. But the theater opened two weeks before the epidemic, and has since been closed.

As restaurants fail, the city will lose economic output and jobs, of course – more than two million restaurant jobs and 173,000 times lost jobs between February and August. But they also stand to lose their glue.

In A recent research paper, Sitian Liu of Queen’s University in Canada and Yichen Su of the Federal Reserve Bank of Dallas conclude that the falling value of urban restaurants is contributing to residential restructuring, in which suburban housing is in great demand, while markets in the most dense urban areas are inactive. is. . In short, if you can’t go out to eat, why live in the city?

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *