Posted 1/11/2024, 4:27:00 AM
Broad Street Market Board Delays Rent Hike After Vendor Backlash
- Board of directors for Broad Street Market voted to delay planned rent increase after backlash
- Rent was set to increase from $2.67 to $5.25 per square foot to offset $8k-$10k monthly losses
- Losses followed fire that gutted market building, displacing 70% of revenue-generating vendors
- Vendors and customers protested increase, questioned validity of board's prior vote
- Board aiming to cut $80k in costs through utility waivers and deferments