[Barnaby]

Servus Credit Union is relocating the 107th ave location to Rogers place. I believe it is going in the pictured CRU, next to the Grand Villa Casino entrance.

 

[degrandprix]

Ice Bank District

 

[David A]

Ice Bank District

Well at least it will fill a space vacant for several years facing the street. While I realize the original concept was different, it doesn't seem like others (than the banks) are rushing to fill the empty spaces here.

 

[Edmcowboy11]

I wonder if it is maybe to do with the leasing division wanting very specific tenants and willing to wait til they get what they want.

 

[Greenspace]

Super random and weird. I guess great for their branding. Banks are great stable long term tenants but in other cities this would be actual retail.

 

[scyeg]

Banks are willing to lease these prime spaces when several of their other branches outside the core are easy to get to and have ample free parking. So either the idea that retail can't be successful because of a lack of people or free parking is false, or banks are paying a prime just for visibility and don't care if no one uses these locations. Because I'm sure many of the same people who would use a DT bank would also shop for clothes, shoes, books, etc. if they had somewhere to do so nearby.

 

[ChazYEG]

Servus Credit Union is relocating the 107th ave location to Rogers place. I believe it is going in the pictured CRU, next to the Grand Villa Casino entrance.

I wish they'd move their head office Downtown. THAT would be a win. It baffles me that we have companies like that with suburban head offices in Edmonton.
I guess I can understand why some major companies, like PCL or The Brick would have their corporate HQ in industrial/suburban areas, considering that they usually just have those attached to warehouses and ops facilities, but the idea of a bank choosing to be in the Research Park instead of the downtown core is mind boggling.

 

[ChazYEG]

So either the idea that retail can't be successful because of a lack of people or free parking is false, or banks are paying a prime just for visibility and don't care if no one uses these locations

A little bit of both? Banks, even small ones, have a far easier time justifying the prime lease rates, even if the branches operate at a lower margin, because of brand exposure and the overall stability of their business (doesn't depend of foot traffic, since no one really just walks into a bank to "shop" in the same way people do with a retailer).

 

[David A]

I wish they'd move their head office Downtown. THAT would be a win. It baffles me that we have companies like that with suburban head offices in Edmonton.
I guess I can understand why some major companies, like PCL or The Brick would have their corporate HQ in industrial/suburban areas, considering that they usually just have those attached to warehouses and ops facilities, but the idea of a bank choosing to be in the Research Park instead of the downtown core is mind boggling.

Yes, a Servus head office downtown would be good. I feel they have passed the size for a suburban office park head office a decade or more ago, perhaps it is partly inertia that keeps them there.

At least they will finally have a branch in the downtown core once again (after closing the one in City Centre many years ago), so I suppose at least that is one step forward.

In addition to the visibility of having a downtown core location, these branches also serve a useful purpose as there are a number of businesses in the nearby office towers that would bank at them.

This is partly why the big banks have them. I suspect Servus has fewer of these larger business customers than the big banks, but it may be an area they want to try grow in.

 

[jason403]

Yes, a Servus head office downtown would be good. I feel they have passed the size for a suburban office park head office a decade or more ago, perhaps it is partly inertia that keeps them there.

At least they will finally have a branch in the downtown core once again (after closing the one in City Centre many years ago), so I suppose at least that is one step forward.

In addition to the visibility of having a downtown core location, these branches also serve a useful purpose as there are a number of businesses in the nearby office towers that would bank at them.

This is partly why the big banks have them. I suspect Servus has fewer of these larger business customers than the big banks, but it may be an area they want to try grow in.

Correct me if I'm wrong, but didn't Servus head office move to Calgary?

 

[ChazYEG]

Correct me if I'm wrong, but didn't Servus head office move to Calgary?

It did not. Their HQ is on 23rd ave/91st right across from the back of the Superstore on SEC

 

[MacLac]

Correct me if I'm wrong, but didn't Servus head office move to Calgary?

Jeebus, if we couldn't keep Capital City Credit Union in the Capital city - we've got some 'splaining to do Lucy.....lol

 

[Gronk!]

It's understanding that the Servus HQ is in the suburbs because many of their clients are rural folks who would be uncomfortable in a downtown office tower. @IanO would have better insight since he brokered the deal with Servus to move into the office space that was previously occupied by Dell.

Before you start ganging up on poor old @IanO for betraying his urbanist ideals, just remember that the HQ is still in Edmonton and not in a bedroom community like Sherwood Park or St. Albert.

 

[ChazYEG]

It's understanding that the Servus HQ is in the suburbs because many of their clients are rural folks who would be uncomfortable in a downtown office tower. @IanO would have better insight since he brokered the deal with Servus to move into the office space that was previously occupied by Dell.

Do a lot of clients really go to their corporate HQ, tho?

Before you start ganging up on poor old @IanO for betraying his urbanist ideals, just remember that the HQ is still in Edmonton and not in a bedroom community like Sherwood Park or St. Albert.

It's still a net positive, but I would still love if they moved DT.

 

[IanO]

It's understanding that the Servus HQ is in the suburbs because many of their clients are rural folks who would be uncomfortable in a downtown office tower. @IanO would have better insight since he brokered the deal with Servus to move into the office space that was previously occupied by Dell.

Before you start ganging up on poor old @IanO for betraying his urbanist ideals, just remember that the HQ is still in Edmonton and not in a bedroom community like Sherwood Park or St. Albert.

Haha, I certainly did not broker any deal for that.

I did however work on the project for ~2yrs and helped the building with being 'reimagined' from a pretty crap Dell call centre into a LEED Certified corporate centre that many of us on 'the team' are still proud of to this day.

From what I know, when the 3 credit unions merged, they made it very clear that they were not wanting to be like the big 4 and were not a Downtown corporate bank.