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Visions for Vacancy: Why That City Square Bay Remains Empty

Cornerstone vice president Tim Doherty says the company wants to make sure any business in that space fits Charlestown.

A few weeks ago, we asked you what you would like to see in a the that has yet to have so much as a single commercial occupant.

Well, the company that owns the bay has its own vision—which is one of the reasons why the bay is still empty.

Tim Doherty, a vice president with Cornerstone Corporation, said that the group has aimed to make sure that whatever business finally moves into that space won’t harm other businesses in Charlestown.

“At one point, Starbucks was very interested,” Doherty said, but he added that an outlet for the national coffee chain could have strained the market already occupied by and .

A couple of “more regional” yoga studios approached Cornerstone about the space, Doherty said, but the developer feared that might hurt .

Before Big Blue started its Big Decline, Doherty said that Blockbuster Video was interested in the space, but Cornerstone backed away from the deal on fears that it would lead to customers double-parking as they ran in to drop of their return videos.

That caution has made it difficult for Cornerstone to fill the space, but Doherty said the company’s not worried about that.

“We’d rather do something that’s right for the buildings and right for the community,” Doherty said. “The income of that space is not hugely material.”

Doherty said that the 2,500+ square foot space could suit any kind of business that the building is zoned for, and could be readied for use within weeks if not days.

“It’s just about ready to go,” he said.

Andrea Schwartz April 13, 2012 at 12:13 PM
Cornerstone doesn't understand the ramifications of competition? I find that hard to believe, and this explanation harder to accept.

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