The downturn hits Las Olas.
(The Riverside Hotel, Ft. Lauderdale - Las Olas)
A few weeks ago, I was walking down Las Olas and noticed something. It was oddly quiet. I noticed the closed stores near the Riverside Hotel and remembered that the hotel planned to do a major expansion and demolish all the stores and build more hotel rooms with retail below. A welcome addition to the Las Olas district...but poor timing. The hotel's plans are grand and if they can pull it off...it will take Las Olas to the next level. However, I just read that the company that owns the Riverside Hotel has been caught up in the credit crisis. They have slowed the project down in an attempt to negotiate lower credit rates. They are hoping to be back on schedule soon and by the first quarter of 2009, we should see some progress. At least, they are hoping that will be the case.
Las Olas used to be packed with people and shops every weekend. Now, there are still people but noticeably less..and the energy isn't as high. There are still plenty of shops...but some of my favorites have closed. Reports are saying that occupancy on Las Olas is down 9% from last year which is not good for this famous downtown district.
It's still a great place to take an evening walk and the weather is perfect right now. The parking doesn't cost that much and you can always window shop for free. Sure, some of the restaurants are not on the cheap side, but you can find something affordable. I actually hit the Cheesecake Factory there and was surprised on how the prices seemed to be a lot lower than the other restaurants...and with the huge portions, you'll have something to take home for lunch the next day.
Say it as it is, Agreed 100% true. Its really sad what happened to this area, I remember even a year ago at how wonderful it was and busy full of life. Cheesecake Factory is good, and the wait time is less. Christmas is looking nice on Las Olas this year and the weather is actually fitting.
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I live 2 blocks off Las Olas and let me tell you its worse than you think. Try coming here on a weeknight. ugh. When I moved here in 2003 it was for the amazing nightlife, and vibe of downtown Fort Lauderdale this sadly has ended. Don't even go to Riverfront, you'll be even more depressed!
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