Franklin Street’s high foot traffic has not been enough to attract enough customers to save some businesses.
Chill Bubble Tea, Penang, Toots & Magoo and Crepes Veronique all recently shuttered their Franklin Street storefronts, but town officials say businesses shouldn’t be worried.
“It’s not surprising that there would be turnover,” said Chapel Hill Town Council member Ed Harrison.
Harrison said the town’s high restaurant density can cause businesses to fail, but they’re quickly replaced.
“This is somewhere where an empty hole tends to be filled,” Harrison said. “It’s a matter of whether the company that owns the space wants to fill it.”
But business leaders say Franklin Street can be a tough place to succeed.
“Some stores don’t survive because they don’t have the right environment,” said Ivy Greaner COO for Ram Real Estate, which manages sales for the town’s new 140 West Franklin development.
Michael Hinderliter, former owner of Chill Bubble Tea, said staying afloat when students are gone poses a major challenge to success in Chapel Hill.
“Franklin Street is a tough place when the students are not there,” he said.