Edmonton Retail Thread

[stefanYEG]

Originally Posted by Edmontonguy

The fact of the matter is, retailers open brick and mortar locations based on extensive research; and it's clear they're research shows DT is a no go zone. Why take the risk?

I was DT with a client this week, and we spent half the conservation talking about all the social disorder. He's from another major city and said our core felt dirty, rough and sad looking. le sigh

Because it's, "the most Edmonton thing you can do".

Seriously though, it will never change until some businesses decide to take a risk. I'm just saying that it seems like a market with untapped potential. Commercial rents downtown are probably (speculation) at all-time lows, there are still some major residential projects being built, MacEwan is busier than ever and despite not being as busy as it was pre-covid, workers are starting to return more regularly to the office. Was Simons opening a store in Londonderry mall of all places not a risk?

[CMD UW]

Originally Posted by Rocket252

^ I was walking west on 104 towards the casino and a street person was against the fence appearing to be drunk or drugged ready to collapse. At the exact same time I approached this person EMS showed up and provided assistance. I know what I saw
Don't make idiotic expletive statements.

I wouldn't have to make these comments if your responses weren't the same over and over and over. You seem like the type that complains more about things versus actually doing something about it. That's cool though.

[Rocket252]

^ I have lived in this city since 1977 and I thought I had seen it all - until the last 3 years. So if I am repetitive, it is out of alarm more than anything.

[Coldrsx]

Reference ID: Job No 487051346-002
Description: To install (3) Projecting On-Premises Sign(s) (HENRY SINGER)
Location: 10310 - 102 STREET NW
Plan 2020006 Unit 423
Applicant: FIVE STAR PERMITS
Status: Intake Review
Create Date: 2023-10-04T14:42:02Z
Neighbourhood: DOWNTOWN

[Coldrsx]

The EDBA/UofA 'Downtown Edmonton Streetfront Retail Report 2023' was released today. Love the project, but that's A LOT of money for a lifestyle store (which exists across a few already, a 'brewery' which already exists and there are no shortage of drinking options and a 'curated furniture, housewares, coffee, baked goods, and flowers.' which 3/5 if not 4/5 of already exists Downtown.

Reducing streetfront vacancies, adding new life to spaces and options are all positive steps forward, but for $11,700 a month each in rent, I would expect MUCH more than that.

Alas.

---

Those three businesses, plus three more to be announced at a later date, will each receive $212,000 plus $38,000 worth of marketing support and business consulting from students at the Alberta School of Business. The businesses must stay in the core for at least 18 months to qualify, McBryan said.

https://www.ualberta.ca/business/media-l...ies/documents/retailvacancy2023_oct9.pdf

[Edmontonguy]

It's come to this. We know have to PAY entrepreneurs to open up a bricks and mortar retail spaces in the downtown.

It really doesn't fix the fundamental problems of the core (and associated city and provincial policies), does it?

Bravo, Edmonton, bravo.

[YegFan]

Too much urban sprawl. That is Edmonton's biggest problem. We have one of the worst population density ratios. Hopefully the new zoning bylaw will encourage more urbanization.

[CMD UW]

Originally Posted by Edmontonguy

It's come to this. We know have to PAY entrepreneurs to open up a bricks and mortar retail spaces in the downtown.

It really doesn't fix the fundamental problems of the core (and associated city and provincial policies), does it?

Bravo, Edmonton, bravo.

This grant is really no different then any other incentive grant that the City of Edmonton has offered in many BIA areas for years (such as the Development Incentive Grant, Facade Improvement Program, etc)....it helps owners/developers offset risks. Same with what the City of Calgary has done with their tax incentive to convert outdated office buildings to residential. 'Offset' risk.

Footnote: There have been plenty of other retailers that have opened up downtown over the past year that didn't need any incentives - numerous restaurants, etc.

[CMD UW]

Originally Posted by YegFan

Too much urban sprawl. That is Edmonton's biggest problem. We have one of the worst population density ratios. Hopefully the new zoning bylaw will encourage more urbanization.

Actually no, not particularly true given that most of our new neighbourhoods are denser then many of our post war subdivisions. We (along with almost every other major Canadian city) do not have the type of sprawl or 'leap-frog' development that most American cities do. In fact the majority of our urban growth in the region is quite contiguous. Take a look at the Lower Mainland as an example (Surrey/Langley) - you'll see numerous development nodes scattered throughout the valley. Why, well it's mainly has to do with the Agricultural Land Reserve system which has sterilized lands for agriculture uses only. This has resulted in pockets of urban growth throughout.

[Coldrsx]

Looks like they are switching brokers. Here's hoping this leads to some activity:
--

Paul RaimundoPaul Raimundo• 1st• 1stI lease and sell retail propertiesI lease and sell retail properties
now • now •

NEW LISITING ANNOUNCEMENT - THE AUGUSTANA

Avison Young | Canada is please to offer on behalf of Hazelview Properties #FORLEASE the Augustana.

Highlights are below:
240 Residential units in the building
Demising options from 1,200 sf to 6,100 sf
Floor to ceiling glass
Excellent Natural light to all units

We are offering two exceptional incentives for this property

Tenant Incentive
First retail transaction of 1,200 sf or greater firm by end of Fall 2024, will receive an additional 6 months free of Net Rent & $10.00 PSF, over the inducement package offered.

Augustana Broker Incentive
Gift Card of your choice in the amount of $2,000 with a minimum 5 years firm deal the broker representing the tenant.

[Harrison]

I am surprised that nothing at all has yet set up in the Augustana CRUs, it's been what, a year and a half since they've been ready to be filled? Especially with the GOA back at the office, you would think at least a coffee shop or something would've opened up, unless they're asking an arm and a leg for rent.

[Slide]

The Ice districe plaza really needs a starbucks, second cup, or/and tim hortons opening on the plaza. Or just a local coffee shop that would be open into the evening. Although having more chains there likely wouldn't hurt. Save for a few restaurants and the oilers store- there really isnt anything to do/keep one in the plaza. Unless you're looking to bank... That TD bank location would be good for a coffee shop!
Some fast food options on the plaza would be good too, a mcdonalds, or something. An ice cream/froyo shop.

I guess anything to backfill those store fronts that would actually be open during an event.

[Harrison]

Originally Posted by Slide

The Ice districe plaza really needs a starbucks, second cup, or/and tim hortons opening on the plaza. Or just a local coffee shop that would be open into the evening. Although having more chains there likely wouldn't hurt. Save for a few restaurants and the oilers store- there really isnt anything to do/keep one in the plaza. Unless you're looking to bank... That TD bank location would be good for a coffee shop!
Some fast food options on the plaza would be good too, a mcdonalds, or something. An ice cream/froyo shop.

I guess anything to backfill those store fronts that would actually be open during an event.

Starbucks was planning to open a Reserve pre-pandemic but put that on pause. They still hold the lease rights afaik so they still may open a store there yet, though it won't be a Reseve store.

[Coldrsx]

That's the SEC of ICE on 103/102st, correct?

[stefanYEG]

Originally Posted by Harrison

Starbucks was planning to open a Reserve pre-pandemic but put that on pause. They still hold the lease rights afaik so they still may open a store there yet, though it won't be a Reseve store.

Is there a reason it would no longer be a Reserve store if they do decide to open?

[Harrison]

Originally Posted by Coldrsx

That's the SEC of ICE on 103/102st, correct?

Yup, adjacent to the old Rexall space I believe.

[Harrison]

Originally Posted by stefanYEG

Is there a reason it would no longer be a Reserve store if they do decide to open?

Corporate strategy changes - they're consolidating Reserve stores in very specific locations - the only one left in Canada is in Vancouver at Granville and Pender.

[stefanYEG]

Originally Posted by Harrison

Corporate strategy changes - they're consolidating Reserve stores in very specific locations - the only one left in Canada is in Vancouver at Granville and Pender.

That's too bad, I've been to the one in Palm Springs and it's quite nice. Really, a normal Starbucks or anything of the sort would be welcome at that location though.

Covid really hit at the worst possible time for Ice District. I really hope Henry Singer is successful at its new location and signals to others that retail can work there.

[stefanYEG]

Originally Posted by Harrison

Yup, adjacent to the old Rexall space I believe.

The Rexall already closed? I thought it was temporarily closed a while back while work was being done on the building but I had no idea it closed permanently. Is anything else moving into that space?

[Hallsy's Toupee]

Henry Singer should open in their new location at the Stantec Tower any day now.

Speaking of the Stantec Tower, how much longer do we have to wait until their food court finally has paying tenants? I find it sad that so many people have using the food court for the past 1 or 2 years but is still an empty shell. I'd like to see McDonald's in the Stantec food court now that they have permanently closed in City Centre mall. Or there's others such as A&W, Orange Julius, China Court, Gagnam and Taco Time.