Interesting approach by Edmonton's Edmonton Downtown Business Association.
News Release
April 17, 2023
The Edmonton Downtown Business Association announces three new programs that will support business growth and more shopping and dining options for the Downtown community and increase vibrancy in the core.
Downtown Retail Project
Applications are now open for the Downtown Retail Project, a business attraction and incubation program for retailers that will help remove barriers and reduce risk for opening brick-and-mortar stores in the downtown core.
Up to six retailers will receive up to $250,000 each to help offset the costs of building out a new downtown location. Businesses will also benefit from three-months' free rent and marketing and other operational support once stores are up and running.
"When we talk about downtown vibrancy, high retail vacancy and a lack of shopping options are among the most frequently brought up frustrations from downtown residents, visitors, workers, and business owners. We're committed to help bring back a much-needed fresh and diverse retail mix to downtown Edmonton and support business owners who see the potential of our downtown by removing some of the high start-up costs and financial risk, which are often a barrier to entry," says Puneeta McBryan, Executive Director, Edmonton Downtown Business Association.
The program is a partnership with commercial real estate advisors Avison Young, selected through a competitive RFP process, who will lead site selections, lease negotiations, permitting and store design and builds for six successful applicants. Avison Young will also lend their expertise and knowledge to assist in retaining tenants and landlords.
https://www.edmontondowntown.com/wp-...-Landlords.pdf