Greenspace
Senior Member
Autograph told me between the 3 developments there's 25 new CRU's for the area.
The Mercury Block | 21.7m | 6s
- Thread starter IanO
- Start date
SMayo
Active Member
That seems like an ambitious amount to try and lease out, the restaurant business is in a really tough spot since COVID, and retail has been in a tough spot for a while.
NathanielBorody
Active Member
IanO
Senior Member
That's going to need a lot of foot traffic.
Oliver's patchy density and income heat map is really hit and miss for retail, but this will be a bit of a destination so here's hoping.
Barnaby
Active Member
The area is already busy during the day. The amount of foot traffic that just OEX has drawn to the area is large. I don't think this will be an issue at all, especially with the bike lane right there.
northlands
Senior Member
I bet the foot traffic will be bananas here this summer, getting a pic in front of the red staircase will be the hottest spot for instagram and TikTok content in Edmonton.
SMayo
Active Member
Manchester Square has the photo shoot boost, and those spaces are still half empty. Its a different space in a somewhat similar area so its not a one for one comparison, however spots like that with huge draws for instagram don't always mean successful businesses.
Gus Haynes
Active Member
Manchester Square's location is a little awkward -- it's sandwiched by light industrial and park (cemetery!) space on two sides.
Mercury Block has access to better density and transit connections, not to mention frequent pop-up events like the Sunday farmer's market on 102 Ave. Maybe it'll have its own challenges in keeping those CRUs 100% filled, but I think it has a fighting chance of doing okay.
Mercury Block has access to better density and transit connections, not to mention frequent pop-up events like the Sunday farmer's market on 102 Ave. Maybe it'll have its own challenges in keeping those CRUs 100% filled, but I think it has a fighting chance of doing okay.
Filip.Nowak
Active Member
Manchester square is actually almost fully leased. Mercury Block is going to be an even bigger success with all the surrounding residential/commercial developments popping up and so many more planned.
ChazYEG
Senior Member
I was just gonna say that. Manchester Square is somewhere one goes intentionally, and a car-first location.
That area already sees substantial foot traffic, even in the winter. With the how much density the area has added in the past year or so (and will be adding in another few months), between Mercury Block (and if we think a little bit further in the future, Mercury Block II) itself, Citizen, Hat @122 and Abbey Park, on top of what you've mentioned already, I feel like chances of having the majority of the CRUs filled here are higher than, say, Manchester Square.
dunno
Active Member
There are also less CRUs in the Mercury Block than Manchester Square.
Glenco
Senior Member
cmd uw
Active Member
People said that when we were developing OEX - can't blame them. A site not located on a major corridor in a primarily residential area. Look what happened. Sometimes things just come together. And I am quite bullish on 102 Avenue becoming a more of a retail corridor, especially in areas that are immediately adjacent/close proximity to major corridors such as 124 Street.
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Greenspace
Senior Member
^That would be great, from 121 to 124 Street is very walkable.