Could closing a street actually improve commercial real estate?

Jul 13, 2026 | News

Greensboro is exploring a pilot program to close a block of South Elm Street to vehicle traffic and convert it into a pedestrian-focused space. 🌳🪑🚶

For property owners and business owners, it’s an interesting case study in placemaking.

📍 Potential impacts:
🚶 Increased pedestrian traffic
More opportunities for outdoor dining and gathering
🛍️ Greater visibility for storefront businesses
🔇 Reduced traffic noise and a more walkable environment
📈 Potential long-term impact on retail demand and property values

Not every pedestrian mall succeeds, but many thriving downtowns have shown that thoughtfully designed public spaces can become economic drivers.

The key question isn’t whether cars should disappear—it’s whether the space creates a destination people want to visit.

https://myfox8.com/news/north-carolina/greensboro/city-of-greensboro-exploring-plan-to-close-stretch-of-south-elm-street-to-create-pedestrian-space

Dylan Cunningham

J Dylan Cunningham, CCIM is the founder of Oak Street Commercial Real Estate, LLC, a firm located in Apex, NC on a mission to help business owners and commercial real estate owners create long-term strategies that align with their objectives through real estate.

We believe in going beyond the transaction, taking a deep look at where you want to be in five, ten or even twenty years from now—and how we can help you get there with thoughtful, strategic decisions today.