Concerned that the Pearl Street Mall is becoming a less vibrant space for pedestrian-oriented retail, the Boulder City Council on Tuesday night approved a surprise temporary ban on new building permits for financial institutions.
The ban, effective immediately, runs for 120 days and applies to ground-floor spaces on Pearl Street between Ninth and 18th streets.
It could be expanded in coming months to include additional restrictions or incentives designed to encourage what Mayor Suzanne Jones called “the unique, local businesses” that city leaders really want in Boulder’s central and internationally recognized commercial district.
The council approved the ban on a 5-4 vote, with Jones and members Sam Weaver, Mary Young, Lisa Morzel and Matt Appelbaum supporting.
“I don’t have anything against banks,” Appelbaum said, but “they don’t attract people, they don’t attract tourists and they’re certainly not open in the evening.
“They’re just dead spaces. … The point is to keep Pearl Street an active pedestrian place with ground-floor uses that are open in the evening. That’s what’s so critical.”
In the 10-block stretch identified in the ordinance, there are currently five ground-floor banks.
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