WXYZDETROIT (WXYZ) – Amidst the new in downtown Detroit, sits an institution—Henry the Hatter.

The oldest hat shop in the nation (1893), the store sits on Broadway, which has seen rent increase with new businesses coming in.

Sources tell Action News, owner Paul Wasserman could soon find himself priced out, meaning the historic site would be forced to move.

Wasserman told us today should that happen, he would seek another Detroit location, because his loyal customer base would not stand to see the store shutter its doors.

Customers we spoke to say many in the city swear by the hats and hope the store sticks around for years to come.

Watch the WXYZ story.