Why Fells Point Shops Are Closing: Unpacking Economic and Generational Trends Impacting Local Businesses

Fells Point, MD, is known for its charm and vibrant scene. However, it’s facing a tough time right now. Recently, popular spots like Riptide and Bondhouse Kitchen have closed their doors, reflecting a larger trend seen nationwide.

According to Jeffrey Dewberry, Vice President for the Preservation of Federal Hill and Fells Point, many restaurants are struggling. The end of COVID subsidies and rising interest rates are making it harder to stay afloat.

Adding to the challenge, younger generations aren’t going out as much and spending less when they do. Despite Fells Point having the highest concentration of bars in the U.S., this shift in spending habits is concerning.

The neighborhood is rich in history, with its older buildings offering unique character. But high rents make it expensive to renovate, which can discourage new businesses from moving in.

Dewberry believes that transforming existing spaces into restaurants could help revitalize the area. However, it requires landlords to lower rents to support new businesses.

Local resident Patrick Lundberg shares his feelings about these changes. While he finds the recent closures disappointing, he’s optimistic about the future of Fells Point. He values the unique charm and character that attracts both visitors and businesses.

“Good businesses will thrive if they focus on what people want,” Lundberg said. Many local businesses have proven they can succeed, which is a hopeful sign.

Dewberry and his team are actively searching for new businesses to fill the gaps. They want to make the area more appealing to entrepreneurs and investors. The hope is that with the right support, Fells Point can continue to be a lively and inviting place for everyone.