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^I beg to differ but the point is moot, no one is going put up money for TV/film production spaces in Edmonton. Toronto, Vancouver and to a lesser extent Calgary have that all sewn up.
 
kcantor said:
For a retailer, it's less the problems downtown (not to minimize them in the least and you should know from my posts that's one of the last things I do) than a drastic glut of space and not enough footsteps walking past those storefronts to support their business.

Will fixing the problems help? Absolutely, but fixing the problems won't eliminate the glut and if we're going to reduce the excess inventory, my own preference would be to focus on our street oriented retail, not 50 plus year old suburban mall and large department store type spaces that there is no demand for.
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Edmonton Centre was built in the 1970's, Eaton Centre (now City Centre West) was built in the mid 1980's, other than one expansion in the 1990's to Edmonton Centre the amount of retail space hasn't changed but that was later offset by the conversion of the lower level to parking.

So there is really no significant glut of retail space, just weak demand mainly because of several years of working at home due to COVID, which is now being reversed as people return to work in the office.
 
The lack of demand is due to the shortage of housing on the mall doorstep.

Any activity besides the construction of housing on the mall property is just going to be malinvestment. Time isn't going to sort this issue out. Having 3,000+ people reliant on the mall for groceries and consumer goods is the surest way to begin fixing the issue.

I don't understand the institutional desire toward blaming this on COVID and consumer trends. This could have been predicted 20 years ago, but for some reason the commercial real estate guys don't get it until it's too late.
 
they really should demo the Bay space and build housing there. I think housing geared toward down-sizing seniors would go like hot cakes: retail and medical services available year round all within a climate controlled environment with pedway connections to the library, arts district, ice district plus the YMCA pool and gym across the street...yeah, I'd buy into that.
 
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Hind sight is always 20/20, but I don't believe this could have been predicted 20 years ago. City Centre was designed to serve the nearby office towers which were fairly empty due to COVID as well as nearby downtown residents. Yes, getting more residents nearby now would help some, but unfortunately absolutely nothing is being built near the mall right now and sadly the closest site the old BMO/Tegler lot still remains empty after a number of years.

As well as COVID, I realize the demise of the department stores has also hurt this mall. It is not that all the commercial real estate people are so dumb, it is just not easy to take such a large amount of space in this area and repurpose it when there is no obvious demand for anything else here, which is why we get so many pie in the sky ideas.

It would also be nice to see the glut of empty street front retail space downtown filled, much of which was required to be built as residential buildings were developed downtown over the last couple decades, but somehow getting rid of City Centre will probably not help that much. I do think the mall, especially the west part needs to be redesigned to interact better with the street, now that the department store space there is empty perhaps this could happen.
 
kcantor said:
For a retailer, it's less the problems downtown (not to minimize them in the least and you should know from my posts that's one of the last things I do) than a drastic glut of space and not enough footsteps walking past those storefronts to support their business.

Will fixing the problems help? Absolutely, but fixing the problems won't eliminate the glut and if we're going to reduce the excess inventory, my own preference would be to focus on our street oriented retail, not 50 plus year old suburban mall and large department store type spaces that there is no demand for.
Click to expand...
This! This is post of the week, and this is why you're all gonna buy me a bulldozer.
 
buildings said:
they really should demo the Bay space and build housing there. I think housing geared toward down-sizing seniors would go like hot cakes: retail and medical services available year round all within a climate controlled environment with pedway connections to the library, arts district, ice district plus the YMCA pool and gym across the street...yeah, I'd buy into that.
Click to expand...
100% agree.
 
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