Rachel's guest this week is Chuck Marohn, and he recaps a recent series of events in Akron, Ohio as well as his article for today, The Real Reason Your Local Mall is Failing.
Mentioned in this podcast:
- The Real Reason Your Local Mall is Failing
- Join us for upcoming public events in West Grove, PA, Wichita, KS, and Chattanooga, TN.
- Strong Towns members are invited to attend our April 30 Q&A Webcast with special guest Joe Minicozzi of Urban3.
- Being Mortal: Illness, Medicine and What Matters in the End by Atul Gawande
(Top photo of the Akron Civic Theater by Chuck Marohn)
Akron, Ohio’s subsidies for redevelopment of the failed Rolling Acres mall are a textbook case of the sunk cost fallacy: the tendency to examine new opportunities not on their own merit, but in the context of past investments.
When the housing market is depressed and you can’t get a return on your investment, there is little incentive to put any money into improvements. It’s a vicious cycle that several Akron nonprofits are trying to break.
To visit the Hapi Fresh Farmer’s Market in Akron, Ohio, is to see the beginning of a journey. Seeds have been planted to draw in more residents, more businesses, and to nurture a return to prosperity for the neighborhood.