"I'm excited," says Hazel & Violet owner Nancy Hill of the move. "Why not? What's the alternative?"

See also: Lisa Sette Gallery to Leave Scottsdale for Midtown Phoenix This Summer

Hill plans to move Hazel & Violet in May to a space on the McKinley Street side of Bragg's Pie Factory, where she'll have more than double her current square footage. She says that though she has until October of 2014 to leave Fourth and McKinley, she'll relocate her letterpress printing shop in May. "When you're moving eight tons of printing equipment, you don't do it in August," she says.

After moving Hazel & Violet, Hill says she might transform the space into a pop-up gallery. And she says she wants to keep recently opened 720 Gallery open as long as possible.

Other occupants are less certain of what they'll do next.

S&S Floral owner Daniela Baca says that, while she's very sad to leave the space, the transition's coming at the right time for her business, which has outgrown its current location. She says that she doesn't have a new spot nailed down but does plan to stay in downtown Phoenix.

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Co-owner of Seven13sk8 Kristine Brambilla says that she's not sure what will happen with her shop. "Everything's up in the air," she says.

Brambilla admits she's a little upset about Tilton buying the building. She says that she thinks developments like this one are pushing the downtown arts community out of the neighborhood.

Tilton has responded to requests for comment and details. A representative from the company says that more information will be provided in the next week or so.

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