Morning Brief: Mt. Pleasant Empties With Downturn


Up and down the commercial heart of Mount Pleasant storefronts are empty, a reflection of the broader economic downturn.

As staff writer Paul Schwartzman reports today: "The palm reader left months ago, as did the laundromat, computer center and two food markets. Across the way, the charred vestiges of a four-story apartment building remain six months after a fire forced 200 low-income residents to move away."

Mount Pleasant grew in affluence with waves of professionals buying rowhouses and condominiums, but their arrival meant many businesses that catered to working-class Latinos left the neighborhood. Other businesses have been slow to replace them as the tightening credit markets and economic downturn has made it a difficult time to start a business. Read the full story here.

In other news, a federal judge on Wednesday suggested a compromise to the Belgian bank seeking to collect $43 million from Metro. The suggested plan would give the bank part of the money it is seeking from the cash-strapped agency. The two sides were in talks Wednesday night and are scheduled to return to court on Thursday.

By Alejandro Lazo  |  November 13, 2008; 8:14 AM ET  | Category:  Economy , Economy Watch , Morning Brief
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Comments

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Friday the Post runs an article about Mt. Pleasant losing business. Saturday the Style section runs a story about all the book stores that are going out of business.

As a Mt. Pleasant resident I'd like to say WE COULD USE A BOOK STORE! Why do I have to go all the way to DuPont circle to buy a book?

Posted by: abhuston | November 15, 2008 1:43 PM

abhuston, I don't go anywhere to buy a book but my front stoop to pick up my mail. That's what everyone does, they shop close to home- the mail carrier brings them.

Posted by: bbcrock | November 15, 2008 8:36 PM

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