The former Renys at 540 Congress St. is still vacant and up for sale after the department store closed in December, ending a 15-year run downtown.
On the market since July, the price for the Art Deco-style building recently dropped 30%, from $4.3 million to $2.9 million, according to the Boulos Co. listing. It includes the 25,800-square-foot retail space and four leased residential condos above. The annual lease rate for the retail space is down 21% to $7.50 per square foot, or $193,500 per year.
City officials have struggled to address chronic vacancies in the Congress Street corridor in recent years. In September, the city council approved levying fines on property owners who fail to fill empty storefronts in a timely fashion.
Many people have strong opinions about the status of Congress Street, including the future of the former Renys location. What do you think should be in that space?
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