[zang]

Not commenting specifically about this location but retail overall is getting hit hard by online.

As someone who lives in the area, I can attest that there's been retail in the area that's sat fallow for long periods of time. Just nearby at 33 Bloor East the street front unit has been empty for a couple of years (I believe it was purolator previously, but it was so long ago I can't be sure). Steps over at Church & Bloor, the Bank of Montreal leased out a long-vacant spot in the IBM building (120 Bloor East) by vacating the unit kitty-corner at 175 Bloor. That spot has remained vacant since.

 

[Ramako]

As someone who lives in the area, I can attest that there's been retail in the area that's sat fallow for long periods of time. Just nearby at 33 Bloor East the street front unit has been empty for a couple of years (I believe it was purolator previously, but it was so long ago I can't be sure). Steps over at Church & Bloor, the Bank of Montreal leased out a long-vacant spot in the IBM building (120 Bloor East) by vacating the unit kitty-corner at 175 Bloor. That spot has remained vacant since.

I wouldn't conclude that the vacancies along Bloor are due to online retail. You can be sure that there have been multiple offers put forward by good retailers. The issue in this area is that landlords are waiting to see if One Bloor will lure luxury retailers to hop east of Yonge, which would impact asking rents and whether they want to lease the space as-is or completely reconfigure the entire ground floors of their building into a larger and more prominent retail spaces. The other issue is some vacant spaces might be facing restrictions due to existing tenants.

 

[ADRM]

I wouldn't conclude that the vacancies along Bloor are due to online retail. You can be sure that there have been multiple offers put forward by good retailers. The issue in this area is that landlords are waiting to see if One Bloor will lure luxury retailers to hop east of Yonge, which would impact asking rents and whether they want to lease the space as-is or completely reconfigure the entire ground floors of their building into a larger and more prominent retail spaces. The other issue is some vacant spaces might be facing restrictions due to existing tenants.

A similar dynamic has played out (and continues to) in the "heart" of Yorkville (Cumberland/Yorkville/Bellair/etc.) -- landlords have been jacking up rents because a flood of new international luxury brands in the neighbourhood is supporting a neighbourhood-wide increase (at least in the more desirable locations), and it's driving out others.

All's to say, there's a bevy of reasons that lead to vacancies -- even long-lasting ones -- and it doesn't flow to assume that a vacancy equals depressed demand.

 

[Avenue]

As someone who lives in the area, I can attest that there's been retail in the area that's sat fallow for long periods of time. Just nearby at 33 Bloor East the street front unit has been empty for a couple of years (I believe it was purolator previously, but it was so long ago I can't be sure). Steps over at Church & Bloor, the Bank of Montreal leased out a long-vacant spot in the IBM building (120 Bloor East) by vacating the unit kitty-corner at 175 Bloor. That spot has remained vacant since.

I mean, this is obvious to everyone on here but Bloor west of Yonge is significantly different than Bloor and Church.

 

[jje1000]

Yeah, I buy almost everything except groceries and odds and ends online now.

But that Globe article was well done, and it should raise eyebrows. Something about this development has seemed off from day one. I'm not saying it won't go through--I suspect it will. But it's just an odd story.

Probably the sensation of over-confidence and inexperience? Mizahi has only done one or two midrise buildings before jumping into the tallest residential building in the city.

I do hope this gets built though- sometimes you need that willingness to put everything on the line for something truly spectacular to be built.

 

[TrickyRicky]

Online shopping of course has its impacts on retail; however, many retail businesses that would open store fronts are net beneficiaries of online sales. Retail brands also may chose to operate at a loss on high profile fashion streets if they deem the exposure to be worth it.

At the local level vacant store fronts have everything to do with the actions and expectations of the Landlord, and cost pressures have everything to do with government and regulatory policy. The internet matters but not really.

 

[Johnny Au]

Endy is an online mattress retailer. However, it has a showroom in Queen West.

 

[Edward Skira]

Endy is an online mattress retailer. However, it has a showroom in Queen West.

In the pre-internet days it would have had more than a showroom on Queen if it wanted to be a retailing force. Yes we still have some book stores and music stores but certainly not the quantity we would have had if online retail hadn't changed things. Retail is certainly suffering. It is masked somewhat in Toronto because of the growing population.

 

[maestro]

Amazon (a.k.a. online) is rapidly taking over however, it still has a ways to go. Retail has always had businesses that expanded very quickly only to be squash by their size and passing trends. Many of the closures you read about fall into that category. They aren't as fashionable as they were at their peak. The same could happen to online (a.k.a. Amazon)

 

[Miscreant]

It may happen to Amazon, but it won't happen to online. At least I don't think so. This is the future of most commerce.

 

[ttk77]

Amazon is so big and has their fingers in so many markets, it isn't going anywhere. The only way I see it disappearing is if it gets bought out by someone larger like Alibaba (assuming the US government would even let that happen). If it becomes less fashionable it's only because more people are using it and it's become completely ubiquitous. You can count me among those who are now buying everything they can online. Sadly, it's a much more pleasant shopping experience when you don't need to leave your home and deal with real people. That said, I think it's the high end retail that can present an upscale shopping experience that will have the most staying power.

 

[zang]

I mean, this is obvious to everyone on here but Bloor west of Yonge is significantly different than Bloor and Church.

Keep the condescension to yourself thanks. "Significantly different"? This isn't Corktown Vs. Forest Hill here. The area is in the same BIA and is a single street over.

 

[Avenue]

Keep the condescension to yourself thanks. "Significantly different"? This isn't Corktown Vs. Forest Hill here. The area is in the same BIA and is a single street over.

There's no condescension. The design and the function of that side of the street, as well as the demographics, is just different. Fewer attractions and a lot less going on east of Church relatively... There's far less foot traffic too.

 

[Skeezix]

Keep the condescension to yourself thanks. "Significantly different"? This isn't Corktown Vs. Forest Hill here. The area is in the same BIA and is a single street over.

It might be the same BIA and there might not be a huge distance between the two, but the retail character and the retail prospects of Yonge and Bloor are completely different than Yonge and Church. Someday there may be more similarities, but that day is not now.

 

[maestro]

Amazon is so big and has their fingers in so many markets, it isn't going anywhere. The only way I see it disappearing is if it gets bought out by someone larger like Alibaba (assuming the US government would even let that happen). If it becomes less fashionable it's only because more people are using it and it's become completely ubiquitous. You can count me among those who are now buying everything they can online. Sadly, it's a much more pleasant shopping experience when you don't need to leave your home and deal with real people. That said, I think it's the high end retail that can present an upscale shopping experience that will have the most staying power.

There's history to it. Times and trends change faster than a large national retailer can cope. Eaton's once had over 50% of Canada's market share. Woolworth's had an incredibly share of the US market at one point too. Walmart's best years may be behind them. Their claim to fame is developing a complex logistics program for supplying brick and mortar stores.

I do expect buying online will evolve. I don't know what it will evolve into but, there's a chance it could involved brick and mortar gaining traction once again.