This is something that certain cities have understood for many years. Chicago, for example, mandates that all new development from a simple three-story building to a 100-story skyscraper has retail at its base to improve the walkability of its streets and make its business corridors vibrant. This also helps push down retail rents even in the CBD, allowing local upstart businesses a shot at reaching the masses. Chicag…
Interestingly, Strong Towns published an article a bit more than a week ago about why mandating ground-floor retail is also not the best way to go: https://www.strongtowns.org/journal/2018/1/8/mixed-up-priori...
I'd heard this argument before that places are kept vacant to justify loans, but no-one had mentioned the key point that these buildings are financed with 3-5 year loans that need to be constantly refreshed, which makes the charade make more sense.