Every place has a story, and different stories are possible in every different place.
More and more, the stories of the places we live are paved over with the same franchised stores and restaurants as the next town. They seem to tell a new story: "This was just undeveloped land that nobody was using, but now you can buy a collapsible collander, or anything else!" A happy ending for some folks, I guess.
But reach the end of your life, and the stories of your kitchen gadgets or electronic equipment just aren't that compelling. And yeah, about development a lot, so just to be clear, that's not what this exercise is about.
This exercise is about the quirks of a place. How about the guy who holds the pizza restaurant sign on the corner every day; what's his story? Or that street that changes names three times, making it difficult to give directions. In my town, there's a big sand dune which has become a sort of home-made billboard that changes every day*. Pretty soon there will be a story everywhere you look.
Please include the name of your town or region in the tags; you might find someone who lives where you do. Please also consider sharing the inspiration for your story in the author guidance section.
There are enough stories from Paris and New York, et cetera. Let's have the lore from Normal, Illinois!
*It's not meant to be a shameless plug but I guess it is: you can read my sand dune story for an example at http://www.protagonize.com/story/free-jr.