Ed007Toronto said:
RBC signed up for one of the retail spaces.
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That is a bummer IMO. BMO taking up prominent space at Aura, and RBC here. Banks just don't strike me as vibrant "retail", even with the "Retail Banking" brand.
 
RBC desperately needs more locations downtown, so IMO that's good news!
 
So the locations at Yonge and Bloor and Yonge and Grenville aren't enough? And there's always the RBC ATMs in nearby Rabbas. It's rather depressing that something so normally mundane as a bank branch would be going into the heritage store fronts on Yonge. Please tell me that it won't take up more than one of them. If it's more than one, shame on Mod for talkin the talk but not walkin the walk. These guys are supposed to be bringing new life to Yonge Street, not sapping it.
 
Having a bank here might, on balance, allow the developer to do something more interesting with the other retail. (bank=low risk, indie retail=higher risk). I'm hoping for a Barque type of joint, or a downtown location of Ed's Real Scoop. I could see a high end grocery working here with lots of prepped take home dinners. Cumbraes kind of fills that niche over on Church though.
 
So people are surpised about a bank leasing one of the retail spaces? What didyou expect? Developers have no interest in risking money (no matter what they say and no matter the lovely drawings of cafes etc on their promo materials) on independent retailers and businesses that make Yonge Street so vibrant. And independent retailers/small businesses probably can't afford the new rents that developers charge. This is why condo towers are going to kill Yonge Street.
 
Geekaroo said:
That is a bummer IMO. BMO taking up prominent space at Aura, and RBC here. Banks just don't strike me as vibrant "retail", even with the "Retail Banking" brand.
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Banks on Yonge Street? How appalling! How anti-urban! What next?

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The problem with banks is they only follow business hours. They are closed the rest of the time deadening the street. Yonge needs vibrancy otherwise here comes Bay Street.
 
Banks are starting to extend their hours, and even open on weekends. With the growth of online competitors, banks are starting to catch up to the real world.
 
Although banks have deep pockets, there is a limit to the number of branches they can afford to open in a given area. I welcome this addition. In Cityplace this would be a disaster due to the lack of available retail space, but on Yonge St, we need not worry.
 
we are really getting desperate if we think that banks with extended hours will add vibrancy to Yonge Street. I'm not opposed to banks downtown - they're obviously needed -but this just signals to me that the expectations promised by the developer of "revitalizing" this strip (which I personally thought was fine and didn't need any revitalization) is likely not be lived up to (as is typical of most new condo developments).
 
Edward said:
The problem with banks is they only follow business hours. They are closed the rest of the time deadening the street. Yonge needs vibrancy otherwise here comes Bay Street.
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I hear they have invented something called ATM's or bank machines that people can and do access at all hours. Maybe people who want money might actually be drawn to such a location and while they are in the area consider patronizing other establishments.

At least, one of these things might be useful to the residents and visitors, thus providing a service to the neighbourhood. :)
 
Vibrancy on Yonge, yet what's on Yonge St. right now? Cash stores, and a good amount of them. Infact, on one block I counted 3 cash stores. How are cash stores, that are currently on Yonge St., vibrant? (since some of you are stating how a bank will not add vibrancy and not liven up the street). We are talking about one retail unit in FIVE having a bank and all of a sudden everyone is up in arms.
 
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