Is Target pulling out a bad sign for downtown development?

Target was set to open its first downtown store but recently decided to pull out of downtown with no explanation

Target decided recently to pull out of a planned store in downtown San Diego. The retailer said it will continue to pay its 15-year lease in East Village and paid the developer back its $600,000 for construction expenses. Target did not give a reason for pulling out. It recently closed several stores in San Francisco, Oakland, New York, Portland and Seattle citing increased theft. Downtown proponents said the decision of Target should not be reflective of downtown.

David Ely, San Diego State University NO: Since Target has not offered a clear explanation for its decision, we should be cautious about speculating on the reasons. There are grounds for optimism about ongoing development even if retail has a diminished presence. Condominiums and apartment buildings continue to be built to meet the strong demand for downtown housing.

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