While the national economy is just starting to catch its breath, Charles Village still feels the aftershocks from last fall's financial tsunami.
"Ever since the presidential elections, things have been a better," said Glenn Bennett, the store manager of clothing boutique Cloud 9 on St. Paul Street. "But you still realize that things are not back to normal.? I've had a number of people with Ph.Ds apply for jobs and I don't see my regular clients as frequently."?
The Charles Village microcosm is essentially comprised of three types of businesses: store fronts such as University Market and Starbucks, services such as housing rentals and small businesses employing writers and engineers. Although the area economy is cushioned by Hopkins's presence, it has not been entirely unaffected. People are more budget conscious and there is an increase in comparison shopping and shopping online, Bennett said.?
Cloud 9 is a local chain store with two other Maryland locations. Chain stores have done better because they can afford to spread their gains and losses. It is the sole proprietor who has taken the greatest hit in this economy. ?
"Overall business closings and foreclosures are not as prevalent in the Charles Village area compared to other parts of Baltimore," said Salem Reiner, director of community affairs at Hopkins.
Although Signatures and then T-mobile, Bert's and the Den have closed their doors, Reiner said that these closings were not a direct result of the recession.?
The Den was suffering from legal issues, Bert's had trouble with management and Signatures and T-mobile, were, arguably, fatalities of poor market research more than they were casualties of a decrease in consumer activity.?
However, there are still concerns about employment and the real estate market, since the stressed economy has lead to an increase in criminal activity in the area.? ?Reiner said the criminal activity seen in the last few weeks are not necessarily a direct result of the economy, but media coverage of the samurai sword incident, for example, scares customers away.? ?
"I take the security van more often now from the library," junior Jamie Edwards said.?
"We've seen a remarkable spike in attempted shoplifting," Bennett said, "This isn't just your typical high school kid sneaking something into his backpack; there are incidents with individuals swiping all seven skirts off a rack and running out of the store."?
To combat the rise in criminal behavior, Hopkins has adopted the JHU Crime Watch program that allows students to quickly and anonymously report a crime with an ID number.? The system expedites a call and has 2,000 students signed up so far. ?
"I haven't changed my behavior, in terms of where I go and when," Senior Ilana Ellenberg said. "But that is partially because I am used to living in a city environment."? ?
Junior Rivky Stern wasn't much concerned about criminal activity in the area until she went to pick up her car parked on 29th Street one night.?
She was approached by a Hopkins security officer who offered to escort her for a couple of blocks, because there had been a robbery on that street just a few minutes ago.? ?
More generally, Hopkins supports a number of non-profit organizations, such as the Charles Village Community Benefits Districts, that aim to educate residents on security issues, reduce blighted properties and promote economic development.?
In addition, the Baltimore Police force has increased their watch over the Charles Village area.?
What concerns Ellenburg is the shortened hours of security at her apartment in The Charles.? The University has used a newly installed electric card system to justify cutting the hours of manned security from 7 p.m. to 3 a.m.?However, Ellenburg suspects the shorter hours are chiefly a result of budget cuts.?
Compared to the recession in 2001, "this recession is deeper, longer and scarier," Reiner said. "But there is hope, and the businesses in the Charles Village are an engaged and diverse group of people that have been around for a long time."? ?
"Eddie's Market is actually doing better; at least they are selling a lot of Purell from the H1N1 scare," Reiner added.? ?
The hope is that the Olmstead lot, across from Charles Commons, will have a positive impact on the Charles Village economy when it is developed by Hopkins.?
Many of the stores in the Village Lofts area set up shop with the expectation that the Olmstead lot was going to be developed.?
When the plans were delayed, they had to reassess their strategies and some of them miscalculated.? Signatures, a stationary store, and shortly after, T-mobile, were unsuccessful at maintaining their stores on St. Paul Street.?
"President Daniels would like construction to start as soon as possible, but realistically it won't be built for another three to four years, if not later."? ?
Getting a project of that magnitude off the ground is extremely complicated and would require tens of millions in financing.?
Reiner is working to ensure that whatever shape the Olmstead lot finally takes will be beneficial, not only to the university community, but to the Charles Village area as a whole.?
Nonetheless, there are concerns that the Hopkins development may not be as favorable to area businesses as the original plans that were unable to secure financing.? ?
The larger undergraduate classes at Hopkins help the Charles Village businesses, said Reiner.?
"It's not just about the individual student; think about the impact of parents and friends and family coming to visit.?Just buying gas and one meal adds up," Reiner said. Overall, however, the impact of undergraduate spending is relatively small.? ?Stern noted that although she continued her job at the Hillel Center from last year, her hours had been cut.?
On the other hand, she is pleased with the fact that her Financial Aid package has increased this year.? Yet, as students' discretionary incomes clearly decrease, area businesses will start to feel the effects more intensely.?
"I am more budget conscious," Ellenburg said. "It's impossible not to be affected by reading the news about the economy.? But it's great that Hopkins always has something going on [i.e. the Olmstead lot], even in this economy."?
