Quote:
Originally Posted by fredinno
Yeah, but the home values will stay up, which is the big problem, not land value.
Nah, DTES isn't expanding, it's just moving south, as Railtown gentrifies.
The only thing that might save Chinatown, really, at this point is the new St. Paul's hospital. Chinese people aren't moving into Chinatown anymore, so even if the Hospital helps to provide a sufficient public and private presence and interest in the area, it's never really going to recover.
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What makes you think more problems are moving into Chinatown? If anything Chinatown has been upward swing for most of the last decade. Pender St. has always had a bit of spill over of grit, but by and large it has remained as well travelled and vital commercial street.
There are a few empty storefronts, but largely they're the ones that are priced above the rest of the neighbourhood or the ones which are beyond saving and in need of redevelopment. The biggest headwind I can identify is that many of the people who utilised Chinatown intensively are ageing out, and theres a demographic gap behind them that doesn't have the same usage patterns.
As much as Melody Ma talks about gentrification happening, the issue of abandonment has left more empty commercial space than has been uptaken by gentrifiers. Compared to 2010 when I first moved into Strathcona, there are a lot more restaurants and stores which attract outside clientele. Even over the last two years, the selection of stores and restaurants, and services has greatly improved.
The vacant lots and surface parking lots have been the taken the brunt of the redevelopment push.