NORTHAMPTON, Mass. (WWLP) – Northampton Mayor David Narkewicz released a mid-year economic update on Friday that shows both meal and hotel tax revenues are up.
12 new businesses have opened in downtown Northampton so far in 2016, and 20 vacant storefronts now have tenants.
David Perok of Palmer believes Northampton businesses, including one his friend owns, are doing better than ever. He said: “Its doing very well, she’s incredibly happy and I’ve seen a lot of small businesses like that doing so well. They’re so much fun to just kill time in.”
Several multi-million dollar construction and renovation projects are also happening in the area. These include St. John’s Cantius church being converted into an independent living facility valued at $10 million, the Northampton Arts trust purchasing and rebuilding 33 Hawley Street for $5 million, and the city spending $3.6 million on rehabilitating Pulaski Park.
Despite the strong leasing activity, the downtown vacancy rate remains at 7%.