The Metro Vancouver Retail Thread

[osirisboy]

Originally Posted by officedweller

Vancouver's Alberni Street transforms into upscale retail hotspot

Read more: http://www.vancouversun.com/vancouver+al...otspot/11747944/story.html#ixzz41Ofz0tbt

It is interesting to see the interest for alberni pick up. It would be great to see the space where Tim Hortons and Wendy's are change into something more upscale.

Any word on what the status is for that retail addition on the north side of the street? (The one where people were crying over the loos of cherry blossom trees)

[bluefox]

Not sure if anyone else got this, but on the Google Rewards app (the one where you take surveys to earn Play Store credits), I was just given a survey asking my opinion on Uniqlo's proposed Canadian brand strategy, and the survey specifically made reference to "Uniqlo opening a store in Vancouver in 2016/17".

I haven't seen anywhere that a Vancouver store is confirmed beyond the company expressing interest in entering the market, so I thought that was interesting.

Should have taken a screenshot of it but it didn't occur to me at the time.

Anyone else see that survey?

[Conrad Yablonski]

Originally Posted by SpongeG

fraser street sems to be much more lively and has more indian shops than main these days

Yes and it's all down to greedy neglectful landlords-rents around 49th & Main are nuts in comparison to Fraser St and the garbage in the back lanes has to seen to be believed no one gives a shit.

However in the past 12 months Fraser has become a tad more upscale and Polo Market-once a lynchpin of the neighbourhood actually moved to a smaller store down @ Main & 48th-right next door to a spacious new Persia Market and both places are packed with lineups out the door common @ Polo (it's really a tiny space).

Also thriving are stores around 57th & Main.

[Klazu]

I haven't been following this discussion so actively, so perhaps I have missed the answer, but what is going on with Park Royal North? I was there yesterday and that place looks abysmal. Most of the stores inside the concourse have closed and many were having final sales. Are they going to gut the whole place or why is it doing so poorly?

Also great to see that Pacific Center FINALLY has a free public wifi. It is about time.

[jollyburger]

Originally Posted by Klazu

I haven't been following this discussion so actively, so perhaps I have missed the answer, but what is going on with Park Royal North? I was there yesterday and that place looks abysmal. Most of the stores inside the concourse have closed and many were having final sales. Are they going to gut the whole place or why is it doing so poorly?

Also great to see that Pacific Center FINALLY has a free public wifi. It is about time.

They're opening a new supermarket, renovating inside/outside and I guess most tenants don't want to deal with the mess during construction.



Credit: Park Royal

[s211]

Originally Posted by Klazu

I haven't been following this discussion so actively, so perhaps I have missed the answer, but what is going on with Park Royal North? I was there yesterday and that place looks abysmal. Most of the stores inside the concourse have closed and many were having final sales. Are they going to gut the whole place or why is it doing so poorly?

Makes one wonder, as virtually all of PRN is on freehold land (versus PRS on reserve land).

[whatnext]

Originally Posted by osirisboy

It is interesting to see the interest for alberni pick up. It would be great to see the space where Tim Hortons and Wendy's are change into something more upscale.

Any word on what the status is for that retail addition on the north side of the street? (The one where people were crying over the loos of cherry blossom trees)

Uh yeah, and like everything else in Vancouver it's not being built for us:

...Mario Negris, executive vice-president of commercial real estate firm CBRE Vancouver, has helped finesse numerous high-value retail/commercial deals in the city. He says wealthy clients from abroad, usually China, some tourists and others new immigrants, are driving sales at Alberni Street’s luxury stores.

“I think what’s driving our residential markets is the same forces driving our luxury retail market,” he said. “It’s probably the same buyers. I don’t think that’s a secret. For these clients, to spend $20,000 on a handbag, it’s really not that big a deal...

Read more: http://www.vancouversun.com/vancouver+al...otspot/11747944/story.html#ixzz41WMihB6K

But if you want to celebrate Vancouver's resortification, have at it.

[osirisboy]

What? That didn't really have anything to do with my comment/question

Regarding these stores representing "resortification" I disagree and think it's good for the economy. From the article:

“Despite varying opinions, the bottom line is that luxury retailers help grow the local economy,” he said. “They attract visitors to certain cities flourishing with such businesses. The night and day difference before and after luxury retailers entered the city of Dubai is an example.

“To get a visitor to spend their money in Vancouver, it means taxes are paid, and energy is injected into the local economic engine, which helps drive everything forward. Instead of having clients spend in Los Angeles or New York — and they can — if they find the selection of goods they are looking for, they’ll come.”

[Spork]

Luxury retail doesn't contribute to the economy in any meaningful way apart from the marginal salaries of the store employees. Apart from that, there is little else. I doubt anybody is coming here for the shopping. Hong Kong, Taipei, Tokyo... there are many other places with the same brands that are much closer to China.

Adding luxury retail is good for the economy in the same way that adding a new Starbucks is good for the economy.

[jollyburger]

Originally Posted by Spork

Luxury retail doesn't contribute to the economy in any meaningful way apart from the marginal salaries of the store employees. Apart from that, there is little else. I doubt anybody is coming here for the shopping. Hong Kong, Taipei, Tokyo... there are many other places with the same brands that are much closer to China.

Adding luxury retail is good for the economy in the same way that adding a new Starbucks is good for the economy.

If your theory is correct then I guess they'll go out of business.

[Klazu]

Originally Posted by Spork

Hong Kong, Taipei, Tokyo... there are many other places with the same brands that are much closer to China.

This is certainly true. I have never seen so many Cartier or Patek Philippe stores as I saw in Hong Kong.

I have also never seen people having to queue outside those stores before they can get in - similar to what took place outside of the Guess outlet at McArthur Glenn when they opened. Luxury business is clearly doing great in Asia...

[connect2source]

Originally Posted by jollyburger

They're opening a new supermarket, renovating inside/outside and I guess most tenants don't want to deal with the mess during construction.



Credit: Park Royal

My guess is that the entire Park Royal North will eventually be turned inside-out. As a frequent visitor, I rarely use the north-side now with Simons and all the flagships along the Main Street extension. Perhaps Hudson's Bay will eventually build on the south side. H&M remains the only non big-box draw in Park Royal North.

[Klazu]

I think two separate malls will never work well. The bridge over Marine Drive is already very cumbersome. They should have tunneled Marine Way for few hundred meters and connect the two areas.

[tarrance17]

Metro Vancouver's first scotch and soda will open in Richmond centre. Also, oak and fort is opening there as well. It seems as if the old Sears is still being left empty. There are no signs of construction!

[memememe76]

I think there is something to be said about having variety when it comes to retail. For myself, I personally like 7-11. When I want a cheap cup off coffee, I go to 7-11. Better than Tim Horton's (which is on Alberni) and MacDonald's, IMO.

Sure, some posters overemphasize the high-end retail but I think this forum does a pretty good job of sharing news about all forms of retail. There was a lengthy discussion about more Walmarts in Surrey, and it wasn't just posters snickering.

I have no reason to think that these businesses are not doing well. I may not buy clothes or jewelry there, but I will likely frequent a nearby restaurant or coffeeshop.

[LeftCoaster]

Originally Posted by tarrance17

Metro Vancouver's first scotch and soda will open in Richmond centre. Also, oak and fort is opening there as well. It seems as if the old Sears is still being left empty. There are no signs of construction!

There are no signs of construction because it's still in the planning stages. Anticipate something great for the Sears box.

[officedweller]

Originally Posted by connect2source

My guess is that the entire Park Royal North will eventually be turned inside-out.

BINGO! Park Royal article from BisNow today:

...And now redevelopment of Park Royal North is underway, with a 45k SF Loblaws City Market launching this summer, along with a reno'd 35k SF London Drugs. Three other spaces will be added: one a 35k SF fitness club, and Rick says the two others will be occupied by retailers new to the North Shore (and possibly Metro Vancouver). The revamp of this section of the mall has focused exclusively on external retail, in an effort to adapt to a changing market. “We're returning Park Royal North to its original identity: an open-air shopping centre with an outward retail focus."

https://www.bisnow.com/vancouver/news/re...ficedweller%40gmail.com&utm_medium=email

[jollyburger]

Uniqlo and Nordstrom Rack?

[officedweller]

Here's the map from the Park Royal website - unless they razed everything between Hudson's Bay and the Loblaws CityMarket, I doubt Nordstrom Rack would fit.


http://shopparkroyal.com/north-mall

[Klazu]

What's with the unbounded love for open-air shopping centres?