"For at least a decade, Chicago's neighborhoods have been experiencing a residential building boom beyond anything this city has seen since the years immediately following World War II," Daley said at a breakfast meeting. "But there's a shortage of quality neighborhood restaurants to serve all our new residents, many of whom work long hours for good money and don't have time to cook a decent meal after they get home from work."
Daley chided retailers who have moved deeper into suburban and exurban areas, often ignoring redeveloping city neighborhoods where family incomes may have increased.
"Even a low- or moderate-income neighborhood in Chicago has more purchasing power per square mile than many of the affluent suburbs – because the city is more densely populated," Daley says. "When goods or services aren't available in a neighborhood, the residents have to look elsewhere. That's a concept we call 'leakage,' and in some neighborhoods the annual leakage is in the tens of millions of dollars."
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