policyenthusiast
Senior Member
I would speculate that small bay commercial & retail is a lacking niche in Downtown. We have way too many Wal-mart sized rental spaces and not enough boutique store-sized shops.
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- Thread starter Daveography
- Start date
archited
Senior Member
^^ What scope lands under your definition of commercial -- just office?
Greenspace
Senior Member
Office. But also we have way way too much retail space for the demand (ECC). Will need to be repurposed.
TAS
Senior Member
The cost to lease office space will sometimes go down when there is a higher vacancy rate.
Is it not also the case for downtown retail space - higher vacancy, reduced rates?
Kosy123
Senior Member
Colliers finally has their Q4 report out, downtown vacancy at 19%
IanO
Superstar
Some interesting ideas on how to expand the YMCA offerings being discussed.
More to come.
More to come.
bodsbods9090
Senior Member
IanO
Superstar
Sounds like we may here more Friday or at least some hints.
Not residential.
Not residential.
David A
Senior Member
I feel some of the newer buildings in particular were built with some vague expectation they would attract a large retail tenant well just because they were downtown, because that happens in other cities.
However, despite many other cities having Apple Stores or large Best Buys right in the downtown core, Edmonton remains generally oddly resistant to having almost any such larger retailers downtown.
policyenthusiast
Senior Member
We do have a Best Buy, but I wouldn't be surprised if it went under based on the near-constant parking lot vacancy.
David A
Senior Member
Yes, I know. I was thinking more of of residential or commercial buildings closer to the core with large empty spaces facing the street, you know like 102 Ave, Jasper Ave, 104 Street ...
These are the type of buildings that actually do have such retailers in many other cities, but the concept seems totally foreign here.
degrandprix
Active Member
That location has felt like it's "about to go under" for the past 10 years I feel like, and yet it keeps on truckin' somehow.
David A
Senior Member
Because now it is really almost the only place left close to downtown where you can buy a computer or appliances any more. They sell a variety of items, many of them larger, so they don't really need huge volume.
There has also been talk over the years of redeveloping the strip mall like space here, which really isn't as suited for the more dense urban environment that has developed around it since it was built.
I feel that will probably eventually happen, but not right away. Perhaps at that time they may move to a space closer to the downtown core or maybe they will surprise us and do this sooner.
AntonK
New Member
That's my 'go to' Best Buy. It's always busy when I go.
David A
Senior Member
About half the time I go there I walk, I suspect a lot of other people who go to this location do not drive, given it is close to the downtown core. So the number of spots in the parking lot may not be a good indicator in this case.