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caution: Attempts to re-create past glories —a commonly voiced goal —rarely <br />succeed because most urban neighborhoods have changed dramatically over the <br />past few decades, and their position in the regional hierarchy of retail destina- <br />tions has been marginalized by newer concentrations of retailing in wealthier <br />neighborhoods with better access, visibility, parking, security, and retailing <br />environments. <br />The large trade areas that many neighborhood streets once enjoyed have been <br />cut off by newer centers, changes in retail merchandising have rendered obsolete <br />much of the retail space along neighborhood streets, demographic shifts have <br />reduced population densities and buying power, and a critical mass of retailers <br />no longer exists along many of these streets. The result has been lower demand, <br />high vacancies, a poor retail environment, and a failure to adapt to changed <br />competitive circumstances. To achieve long-term sustainability, plans for rebuild- <br />ing neighborhood shopping streets must recognize these changes and embrace <br />solutions that are realistically market -based. It is not enough to base them <br />solely on enlightened public policy goals or the community's wish list, no matter <br />how well intentioned. <br />In spite of the challenges faced by neighborhood retail streets, their future is <br />turning much brighter, and the Urban Land Institute believes that the timing is <br />Bloor West Village in <br />Toronto, Ontario. <br />