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.
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