The retail trade in Cork city includes a mix of both modern, state of the art shopping centres and family owned local shops. Department stores cater for all budgets, with expensive boutiques for one end of the market and high street stores also available. Shopping centres can be found in many of Cork's suburbs, including Blackpool, Ballincollig, Douglas, Ballyvolane, Wilton and Mahon Point. Others are available in the city centre. These include the recently[when?] completed development of two large malls The Cornmarket Centre on Cornmarket Street, and new the retail street called "Opera Lane" off St. Patrick's Street/Academy Street. The Grand Parade scheme, on the site of the former Capitol Cineplex, was planning-approved for 60,000 square feet (5,600 m2) of retail space, with work commencing in 2016. Cork's main shopping street is St. Patrick's Street and is the most expensive street in the country per sq. metre after Dublin's Grafton Street. As of 2015[update] this area has been impacted by the post-2008 downturn, with many retail spaces available for let.[citation needed] Other shopping areas in the city centre include Oliver Plunkett St. and Grand Parade. Cork is also home to some of the country's leading department stores with the foundations of shops such as Dunnes Stores and the former Roches Stores being laid in the city. Outside the city centre is Mahon Point Shopping Centre.
What happened after the economy dropped off around 2008?
many retail spaces available for let