BURBANK (CBSLA) – Store owners in the unique and historic Magnolia Park neighborhood of Burbank are concerned that spiking rents are forcing them to leave.
On Monday night, dozens of business owners and community members met for a town hall to discuss what they call the gentrification of their neighborhood. Business owners told CBS2 rents in the area have doubled and even tripled, as they say big box stores look to move into the area.
According to LA Weekly, two stores were forced to relocate out in recent months: Pinup Girl Boutique and Creature Features. A third, Geeky Teas & Games, where Monday’s meeting was held, is also set to move.
“We don’t wanna have things like Target because we don’t have the infrastructure to support large box business stores,” Ashley Largey, owner of Darling Nikki’s Salon, told CBS2 Monday. “We don’t have the parking for it. And when Target takes up parking, and other small businesses, there clientelle can’t park, it makes it really hard for them to do business. And when there rent is being doubled and tripled, it makes it even harder to clear that cost.”
Business owners are expected to ask city officials to establish rent control.