I think Bobby is right about the larger chains being the only ones who can afford to open around 30A and expect to stay in business with rents being in the $27 + per sf, triple net, price range. I think the only way we could possibly see some local eats is that if someone built and leased small units in a common building, like a food court at the mall. Dining area could be shared by all, but mostly do take out walk up window. Limit the sq ftage to around 500sf and people may actually be able to make a small food place successful and long-lasting.
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What about the little buildings at The Villages of South Walton (AKA the seacrest fountains)? They are little -- and I've often thought that would be a good way for locals to have shops -- or small food places (like margaritas -- will someone take me up on it already!!) Cake Me Away finds a way to stay in business and she is never even opened! I wonder if others couldn't make it work as well.