The major economic downturn that hit the United States hard in Oct. 2008 has also had an impact on businesses up and down Hillsborough Street.
Some of the higher-priced restaurants and businesses with higher-end products have felt the brunt of students and faculty alike spending less money.
Alan Lovette, the owner of Melvin’s Hamburgers, said he has noticed the slow economy’s impact on Hillsborough Street despite his business not feeling the direct effect of the slowdown.
Lovette said his sales have actually gone up slightly since last fall.
“The businesses within the Hillsborough Street partnership held a meeting about a week ago to discuss plans for the street,” he said. “A couple of businesses admitted that there sales are down. One couple said that their sales are down 14 percent.”
Lovette said the higher priced restaurants have seen the biggest impact.
“I haven’t seen too many problems but then again, I’m selling a less expensive product,” he said. “At Melvin’s, we sell a hamburger, fries and drink for $3.99 and people are always looking for a deal.”
Lovette said those customers looking for good deals have helped businesses with lower prices.
“Students and faculty alike are looking for bargains right now,” he said. “The upper end restaurants are actually suffering a little more, most likely.”
Despite the fact people are spending less money in some cases, Lovette said the plans for improvements to the street remain on schedule.
“The project is going to happen starting in May,” he said. “Nothing has been taken out of the budget that I know of.”
Lovette said construction is scheduled to begin May 11.
Another important part of Hillsborough Street improvement, Lovette said, is bringing people to the area through various events.
Will McGuire, president of Legacy Event Planners, a nonprofit entity designed to help manage Hillsborough Street events, said events on Hillsborough Street are an important part of the future of the street.
“The events are a big part of it,” McGuire, a senior in aerospace engineering, said. “If you look at any city or area that is successful, there is interaction between people. These events bring people together.”
McGuire said students and faculty need to realize that Hillsborough Street is a good place to go even with the economy in its current state.
“Despite the economy, Hillsborough Street has a lot to offer,” he said. “There are more diverse restaurants on Hillsborough Street than anywhere in the state.”
With regard to construction, McGuire said students will need to be even more cognisant of the success of the street.
“People need to realize the stores will be the same,” he said. “It’s very important people don’t change their habits. People need to walk the extra 20 feet around the construction to keep supporting the local businesses.”
McGuire is one of the lead planners for the Hillsborough Street Reneissance, a street festival scheduled for March 11.
The Renaissance, McGuire said, will be the first time Hillsborough Street will be closed for an event of this nature in its history. The street will be blocked off from Wachovia to Bruegger’s all day.
“It’s the first time Hillsborough Street will be closed down for an entire day,” he said. “It’s the first festival of this nature and this magnitude.”
The festival, which will last from noon to 10 p.m., will include live music, numerous vendors and sponsors lining the street, an iron chef competition and an alternative fuel vehicles showcase, McGuire said.
“This will be an opportunity for the community to come together,” McGuire said. “Our projections for the festival have the crowd at 20,000 plus people.”
Lovette said that construction and events on Hillsborough Street are things which, in the end, will make the area ‘one of the best in North Carolina.’
“This street has so much potential,” he said. “If the street looked better and more people were around, in my opinion, this street has more potential than Franklin Street in Chapel Hill.”
