Duvall & Associates, Inc.
BUSINESS ADVISOR NEWSLETTER
 

 Downtown could be next 'cool' spot

- by Alan Duvall 

Published in Dayton Daily News  April 8, 2007 

I just read an article listing the 10 “coolest” cities in the U.S.  Not surprisingly, Dayton did not make the cut. 

I would vote for a “Top 10 COOL Spot” as our city’s ultimate objective.  COOL is exciting and will attract young entrepreneurs essential for prosperity.  But how to get from here to there? 

I passed the retail dynamo labeled The Greene the other day – its parking lot packed with vehicles.  And I wondered if Downtown Dayton could possibly replicate the excitement of The Greene? 

Consider some basic parameters for success.  The venture must offer a “destination point”.  Not just restaurants.  Not just retail shops.  But a unique mixture of resident proprietors  which entice visitors to shop, to eat, to drink, to simply browse enjoying the sights and sounds of fun. 

The area must offer three basic commodities – transportation access, parking and security.  Transportation access is in place courtesy of expressways Interstate 75, U.S. 35 and Ohio 4.  Parking can be easily accommodated. 

Security is the key to success.  People must feel totally comfortable with the environment for the concept to work.  If patrons have to park blocks from the complex and walk past abandoned warehouses and dark alleys to reach destination point – the project will certainly fail. 

The area must have amenities difficult for competing areas to emulate.  Downtown Dayton has a nice river which could be leveraged with boating, fishing and park activities.  Downtown also has a very successful Dragons baseball stadium attracting predictable capacity crowds.  And Downtown has nearby entertainment locales such as the Oregon District, theatres and museum venues to offer as a springboard. 

Convenient public transportation between venues would be essential.  Trolleys, horse & buggy rides, cabs and even bicycle carts can pave the way for alternative venues to leverage neighbors’ strengths.  

The major problem with The Greene is the shops are primarily mall fixtures and the restaurants, though nice, are chain-related.  If Downtown could attract locally-owned art shops, boutiques, cafes and taverns – the setting for a totally unique destination experience could be established. 

If successful, the venture area could provide a massive catalyst for revitalization of the Downtown Dayton locale. 

“You can’t start a fire without a spark.”  Bruce Springsteen 

Alan Duvall is a certified public accountant in Dayton.  Contact him at Alan@Duvallcpa.com.