Unique Plaza Midwood Cup Cake Shop Closing Due to Rising Rent
CHARLOTTE, NC. — After five years in Plaza Midwood, a trendy, locally owned cupcake shop is closing. The owner says he can’t keep up with the rising rent costs, something being seen across the city.
FuManChu Cup Cakes on Lamar Avenue in Plaza Midwood has been selling unique cupcakes for five years. Sunday will be the last time you can get them.
“Due to rising rent is the main factor, actually the only factor that’s pushing us out of business,” says owner Andy Jackson.
Jackson says the rent went up last year. He wouldn’t say how much, but he put it into perspective.
“We can’t keep up. I would have to charge between 10-12 dollars a cupcake instead of five right now.”
Plaza Midwood is a growing area that’s hip and quirky, which means hot real estate. The Plaza Midwood Merchants group says two other small businesses have relocated recently because of rising rent: Visionz Barber Shop and Armada Skate Shop.
Some small business owners in the area tell WCCB, they worry how the county property revaluation will impact their businesses.