In my small town (15K) in MA, we call it “uptown” and it’s doing great!
Small theater with plenty of live events. Well used library. New brewpub in the old fire house. New sushi joint. Brand new ice cream shop. Small, but, functional dessert bakery, Pho shop, and soon a new butcher/seafood shop.
Throw in other restaurants, pizza joints, barber, salon, liquor store.
Plenty of people living right there also. It’s a very successful New England “village”. There’s even a really nice band stand on the center park where they have all types of activities. Free concerts every Thursday night during Summer and Christmas caroling the Thursday before Christmas.