Quote:
Originally Posted by Jamaican-Phoenix
I don't exactly buy that. Introducing new retail at Lansdowne might force some businesses to close shop, but that provides an opportunity for new development and/or new retail opportunities. Bank St. is a main street of Ottawa; it's not going to die.
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Hmmm. Not sure that having existing tenants is a big impediment to redevelopment. There are some very good redevelopment opportunities on Bank. The block with the former KFC and Olympic Sports (now Rogers and Kunstadt) springs to mind - chronically underused and underbuilt. If normal rules of supply and demand apply, building 300,000 sq ft down the road makes these types of sites less likely to developed, not more.
Sometimes you need a catalyst development to bring new investment to an underdeveloped area. The Glebe hardly seems to fit that profile. It was already a desirable neighbourhood with a base of high income consumers, but aside from Domicile's "G" there's been precious little in the last 20 years. It makes me think that there are other barriers. Land acquisition costs? Overhead wires making it difficult to cost-justify midrise development?
Frankly, I hope I'm wrong and the consensus in this thread is right - that the new residential will be enough to sustain all the new retail. I also hope that K-133 is right and that the LCBO pursues a saturation policy keeping Clemow open so that Phil and I don't have to walk further for our alcohol!
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