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Downtown

IanO said:
At what point does that model breakdown versus making it a safe, vibrant, destination for investment and those wanting an urban experience?
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Couldn't that model help create a safe, vibrant destination, by attracting more residents and helping create momentum?
 
https://twitter.com/x/status/1712533342569247161

1697135795138.png
 
IanO said:
At what point does that model breakdown versus making it a safe, vibrant, destination for investment and those wanting an urban experience?
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Agreed. But when it’s a chicken and egg problem, you need a catalyst.

And financial incentives move people a lot faster than shifting perceptions on safety and relevancy.

A bank might be better than another. But how many people go through the hassle of switching just cause a product might be better? That’s why banks give deep incentives for switching. Catalyze the choice. Make there be a greater cost to NOT changing vs changing.

Inertia is powerful. Something must disrupt it.

Sort of like the places that have done ebike subsidies for vehicle turn ins. Catch people at the decision point and incentivize buying an ebike vs a new car.

When people look for a rental, do you rent in just any old 5 story wood frame building that’s cheap? Or do you also get a $100/month spending card, and free transit, for moving downtown?
 
Edmonton Downtown Streetfront Retail Report 2023:


As part of the Retail Attraction Program and provincial grant to the EDBA, 3 of 6 new permanent businesses announced today:

- The Growlery Beer (Brewery and Taproom. Second location) https://www.growlerybeer.com/
- Consign Design (Furniture and accessories) https://consigndesign.ca/
- Good Goods (Lifestyle) https://www.goodgoodsco.ca/

Locations weren't announced today but I think folks will be pleased with the location of The Growlery.
 
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occidentalcapital said:
Sometimes people say that just throwing money at a problem won't solve it. In this case throwing some money at development incentives, street cleanliness, festivals, retail, art, and a landmark cultural venue would solve the issue pretty easily.
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'Pretty easily'

With respect, that is incorrect and far from the reality of this situation.

The shear amount of money thrown at Downtown in the last 12-18 months is insane and while important to help boost things up, is not the pathway forward.
 
IanO said:
'Pretty easily'

With respect, that is incorrect and far from the reality of this situation.

The shear amount of money thrown at Downtown in the last 12-18 months is insane and while important to help boost things up, is not the pathway forward.
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Ian, the "sheer amount of money thrown at Downtown" in this timeframe doesn't even come CLOSE to how much money we'd need to burn through to get it up to proper standards.

Think money to renovate all of the roads and sidewalks (pavement, streetscape and furniture), hire enough cops to be allocated in sufficient amount, renovate/improve LRT stations, create and fund programming in parks, subsidies/incentives for new business to set up shop or relocate Downtown, subsidies/incentives to help spur new residential development.

We're talking 100s of millions of dollars (maybe $1BN+), in a relatively short timespan, in a concerted effort, with public and private entities working together, and with long term planning/commitment for the upkeep. We've thrown maybe a $10, 20M? That's barely gonna move the needle.
 
Greenspace said:
Edmonton Downtown Streetfront Retail Report 2023:


As part of the Retail Attraction Program and provincial grant to the EDBA, 3 of 6 new permanent businesses announced today:

- The Growlery Beer (Brewery and Taproom. Second location) https://www.growlerybeer.com/
- Consign Design (Furniture and accessories) https://consigndesign.ca/
- Good Goods (Lifestyle) https://www.goodgoodsco.ca/

Locations weren't announced today but I think folks will be pleased with the location of The Growlery.
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Good Goods is in Manulife Place.
In fact, I took a pic recently - they're in the old Holt space.
 
ChazYEG said:
Ian, the "sheer amount of money thrown at Downtown" in this timeframe doesn't even come CLOSE to how much money we'd need to burn through to get it up to proper standards.

Think money to renovate all of the roads and sidewalks (pavement, streetscape and furniture), hire enough cops to be allocated in sufficient amount, renovate/improve LRT stations, create and fund programming in parks, subsidies/incentives for new business to set up shop or relocate Downtown, subsidies/incentives to help spur new residential development.

We're talking 100s of millions of dollars (maybe $1BN+), in a relatively short timespan, in a concerted effort, with public and private entities working together, and with long term planning/commitment for the upkeep. We've thrown maybe a $10, 20M? That's barely gonna move the needle.
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This.

How about a generous retail incentive program + a residential per unit incentive from the orders of gov't or a nonprofit. This will drive some movement and market realignment to DT pretty quick.
 
Gronk! said:
Good Goods is in Manulife Place.
In fact, I took a pic recently - they're in the old Holt space.
Click to expand...

My mistake - their Manulife location just a pop-up until end of the year, with a more permanent downtown location coming soon.

edmonton.taproot.news

Grants attract three indie retailers to downtown Edmonton

A market for socially responsible brands, a brewery, and a combination furniture-store-bakery-and-florist will set up shop downtown with the help of a grant administered by the Edmonton Downtown Business Association.
edmonton.taproot.news edmonton.taproot.news
 
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.

Women's clothing, shoe stores, an Adidas store, yoga shop etc.

Alas.
 
IanO said:
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.

Women's clothing, shoe stores, an Adidas store, yoga shop etc.

Alas.
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Instead of your 'alas' over retail that's already in downtown, how about an 'alas' for those retailers that are NOT in the downtown area:

hardware store (e.g. Home Hardware, Crappy Tire)
record store (e.g. Sunrise, Revolver)
computer store (e.g. Memory Express, not sure if Source and Best Buy is enough)
gaming store (e.g. EB Games which left ECC a while ago)
sports/fitness shop (to replace the departed Sport Chek)
office supplies (e.g. Staples)
bookstore (just have Audreys afaik, I've been dying for Indigo)
comic book store (just have Rolling Tales, which relocated to downtown recently)
 
IanO I would suggest you don't know everything that's going on with this program and need to do a bit more research or ask more questions.

- Most businesses are signing 3-5 year leases.
- Some of the money is for marketing and help with lease negotiations
- It's up to $250k each but not all are receiving that.
- Only the EDBA is doing anything to try to address retail issue downtown.
 
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