Chinatown’s survival depends in large part on whether legacy business owners can hand the reins to the next generation. wilfredchan writes on the takeaways from a new report on the future of the neighborhood after the pandemic
Photo: Nina Westervelt/Bloomberg via Getty Images Manhattan’s Chinatown has been struggling for years. But the pandemic shuttered banquet-hall mainstays like Jing Fong and 88 Palace along with a number of beloved small shops and restaurants, including 88 Lan Zhou of hand-pulled-noodle and dumpling fame. Even now, many of the empty storefronts have not reopened. A new study on the state of the neighborhood released on Tuesday highlights the dire situation with hard data.
The problem has been exacerbated by anti-Asian bias, especially the rise in anti-Asian hate attacks. According to the report, visitors to Chinatown restaurants began plummeting soon after the discovery of COVID in China, at least a month before neighboring areas like the East Village saw similar declines. Since then, the nonprofit found, many stores have cut back on their operations over fears of hate crimes.
Chinatown’s survival depends in large part on whether legacy business owners can hand the reins to the next generation. But most Chinatown businesses lack succession plans, said Lee. Creating them needs to become an urgent priority. “As the business owners continue to age in the next three to five years, without a game plan we’ll start to see more and more vacant storefronts, and we’ll start to lose the community,” she said.
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