Edmonton, AB Retail Q4 2017

Total Page:16

File Type:pdf, Size:1020Kb

Edmonton, AB Retail Q4 2017 MARKETBEAT Edmonton, AB Retail Q4 2017 ECONOMIC INDICATORS Retailers have responded with increased leasing activity and sales volumes through the final two quarters of 2017. Rents have National 12-Month also seen a general increase in the past two quarters as retailers 2016 2017F Forecast seek newer or better located space in a competitive market, GDP Growth 1.5% 2.6%* especially as several new developments located on the periphery CPI Growth 1.4% 2.0%* of Edmonton continue construction. Podium spaces in new Consumer Spending developments downtown have generally been filled, although 2.4% 3.1%* Growth some options remain for motivated tenants seeking a high Retail Sales Growth 1.7% 2.3%* visibility and high traffic location. A notable trend towards more restaurants, both quick service and sit-down options, entering the downtown area is noticeable. A significant number of fitness 12-Month Regional 2016 2017F Forecast tenants have also been moving into high profile spaces Household Income $104,750 $107,470* throughout the city. Population Growth 1.8% 1.6%* High profile mixed-use developments on Whyte Avenue are Unemployment 8.1% 6.8%* underway, as well as several newer projects downtown which are expected to have retail podiums. Densification efforts along Sources: RBC Economics, TD Economics, Finance Ministry of Alberta *2017 several high streets in Edmonton, including Whyte and Jasper Forecast Avenues and 124th Street, will make these areas more attractive for retailers. Housing starts have picked up over the past year, a good sign for community retail developers and tenants seeking Economy entry into those markets. The City of Edmonton experienced a stronger than anticipated Retail investment remains a mainstay of the Edmonton recovery over the past year. Growth is expected to moderate commercial real estate market, as an estimated $259 million in towards 2.4% in 2018, lower than 2017 but higher than most other retail assets exchanged hands in the third and fourth quarters of provinces. However, sensitivity to oil prices will continue to weigh 2017. High profile sales include Baseline Village in Sherwood on Albertan industry and limit overall growth. The unemployment Park at $85,000,000 and Whitemud Crossing in Edmonton at rate in the Edmonton region has dropped quarter-over-quarter to $26,500,000. 7.5%, investment in local industry has increased, and oil recently surpassed the $60 mark for the first time since 2014, likely Outlook remaining at least in the mid-$50 range on average through 2018. Improving oil prices usually bring an increase to investment and Non-residential construction spending, muted in 2017, is expected development within the Edmonton marketplace. We expect to remain weak. construction on retail properties to remain consistent in response Source: City of Edmonton, Finance Ministry of Alberta to ongoing low vacancy and investment interest in retail assets. Although there will be a significant amount of new retail space Market Overview entering the market in the coming year, most of it will have been Edmonton’s retail market has been buoyed through the second pre-leased prior to the completion of the development. Rents half of 2017 by a stronger than expected economic recovery. correspondingly will remain stable on average through 2018, a Rising wages and increased employment in the waning months of result of competition for in-demand retail space and newer, the year have driven increased consumer demand. Record-setting higher quality assets entering the market. spending has been recorded in Alberta as recently as October A major new category of interest in the coming year will be retail 2017, when retailers reached $6.8 billion in sales. Strong tenants related to the burgeoning marijuana sector. The wholesale figures and increasing bar and restaurant receipts regulatory framework for this industry will also be an interesting reinforce the image of Edmonton as a strong retail market with a development to follow. Tenants in this industry will be seeking stable consumer base. out a wide variety of retail space so as to cover as much of the market as is viable, including more mature, less in-demand retail assets. We expect a strong response from the market. www.cwedm.com MARKETBEAT Edmonton, AB Retail Q4 2017 Key Lease Transactions Q4 2017 PROPERTY SF TENANT TRANSACTION TYPE SUBMARKET Westmount Mall 27,000 Crunch Fitness Lease Northwest Kingsway Mall 26,060 Marshalls Lease Northwest 124th Street Property 24,500 Evolve Fitness Lease Northwest Kingsway Mall 23,543 Homesense Lease Northwest Kingsway Mall 23,497 H&M Expansion Northwest West Edmonton Mall 17,500 Crunch Fitness Lease Northwest SouthPark 16,000 Goodwill Lease Southwest The Shops of Granville 9,032 Tim Hortons, Edo, Coco Chicken, Good Buddy, etc Lease Southwest Key Sales Transactions Q4 2017 PROPERTY SF SELLER/BUYER PRICE / $PSF SUBMARKET SRF2 Baseline Road Northwest Inc. / 222 & 223 Baseline Baseline Village 229,661 $85,000,000 / $370 Sherwood Park Road Inc. Whitemud G.P. Ltd. / Whitemud 106 GP Ltd. Whitemud Crossing 93,339 $26,500,000 / $284 Southwest Canadian Property Holdings (Alberta) Inc / Anthem St. Albert Square 58,316 $15,800,000 / $271 St. Albert Crestpoint St. Albert Square Ltd Daly Grove G.P. Ltd. / Elite Real Estate Investments Daly Grove Shopping Centre 38,704 $13,800,000 / $414 Southeast Strategic Edmonton Ltd / 1994677 Alberta Ltd Abbottsford Shoppers Mall 178,840 $13,500,000 / $75 Northeast Key Properties Under Construction PROPERTY (Developer) SF* MAJOR TENANTS PROPERTY TYPE SUBMARKET Currents of Windermere 1,200,000 Walmart, Cabela’s, Home Depot Regional Centre Southwest Manning Town Centre & Village 850,000 Canadian Tire, Lowe’s, Cabela’s Regional Centre Northeast Erin Ridge Shopping Centre 480,971 Costco, Lowe’s Regional Centre St. Albert Albany Market Square 407,000 Walmart Regional Centre Northeast Harvest Pointe Shopping Centre 375,000 Walmart, Sobeys Regional Centre Southeast Heritage Valley Shopping Centre 303,472 Superstore, Shoppers Regional Centre Southwest Brewery District 310,000 MEC, Shoppers, Goodlife, Winners Community Centre Central Ice District 300,000 Cineplex, Joey, Rexall Entertainment District Central Tamarack Southeast, North and Northeast (Dream) 185,125 Shoppers, Sportchek, Michaels Community Centre Southeast Windermere Crossing 160,000 Superstore Community Centre Southwest Newcastle Centre 147,390 Sobeys, LA Fitness Community Centre Northwest Tamarack Common (Qualico) 114,000 Sobeys, RBC, Browns Socialhouse Community Centre Southeast Griesbach Village 110,622 Shoppers Drug Mart Community Centre Northwest Jensen Lakes Crossing 104,999 Landmark Cinemas Regional Centre St. Albert Edgemont (Qualico) 91,320 Sobeys Community Centre Southwest *Square footage represents full development build out, includes some partially completed developments and those with CRUs under construction. About Cushman & Wakefield Cushman & Wakefield Edmonton For more information, contact: Cushman & Wakefield is a leading global real estate services firm with 45,000 employees in more than 70 countries helping occupiers and investors optimize the value of their real estate. Cushman & Wakefield is among the largest commercial real estate Suite 2700 TD Tower Retail Team services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services 10088 – 102 Avenue Tel: +1 780 420 1177 (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter. Edmonton, AB, T5J 2Z1 Fax: +1 780 424 9780 www.cwedm.com Retail@cwedm.com Copyright © 2018 Cushman & Wakefield. All rights reserved. The information contained within this report is gathered from multiple sources considered to be reliable. The information may contain errors or omissions and is presented without any warranty or representations as to its accuracy..
Recommended publications
  • Candles to Kilowatts
    Candles to Kilowatts The Story of Edmonton’s Power Company Chapter 1 final 2/7/02 10:07 PM Page 1 lick a light switch, turn on a televi- Fsion, use a microwave – we take many electrical conveniences for granted. But Milestones Chapter 1 before the turn of the twentieth century, electricity was just a flickering novelty for most people. Since then, it has 1891 become central to our daily lives, a driv- Alex Taylor starts the first Edmonton ing force of modern industry, and a electric plant in Edmonton. multi-billion dollar enterprise. And for Electric Lighting people in Edmonton, a home-grown The C&E Railway between Calgary utility has made electricity a reality for and South Edmonton is completed. and Power more than a century. Company Limited Edmonton’s Early 1892 Growth Edmonton is incorporated as a town. • • • • • Edmonton Electric Lighting and Power Company Limited has its roots in the 1895 1891 – 1901 early history of the City of Edmonton. John Walter’s sawmill business is Like other cities in western Canada, operational in Edmonton. Edmonton began as a fur trading post. After relocating several times, Fort 1896 Edmonton was situated in the Edmonton Marconi applies for a patent on area in 1802, when it was erected on the wireless telegraphy. north bank of the North Saskatchewan River. In 1829, the fort was moved to The Klondike Gold higher ground near the present location Rush begins. It is a fact – or have I dreamt it – that, of Alberta’s legislature building. by means of electricity, the world of Fort Edmonton experienced two sepa- The first long-distance, high-voltage rate waves of newcomers.
    [Show full text]
  • Niche Market Study Beaumont, Alberta
    TOWN OF BEAUMONT NICHE MARKET STUDY FINAL REPORT June 24, 2011 1 NICHOLS Applied Management Table of Contents Page 1. Introduction – The Importance of Community Sustainability 3 2. Retail and Commercial Expenditure Pattern Survey and Analysis 6 3. Economic Development Opportunities Roadmap 24 4. Key Objectives 32 5. High-Potential Growth Areas 37 6. Priorities, Directions and Recommended Action Items 44 2 NICHOLS Applied Management 1. Introduction – The Importance of Community Sustainability Retention and growth of existing businesses, new business attraction, jobs, investment, residential development and new commercial/industrial assessment – these are just some of the benefits to be realized through a well-focused economic and community development strategy. They are also essential, some would say critical, for the Town of Beaumont at this point in time. Long term community sustainability depends on the ability to maintain a healthy balance and harmony between economic, municipal fiscal/financial, social and environmental sustainability. While each is equally important, many would argue that economic sustainability is the ‘engine’ that ultimately drives and sustains a community. Building Blocks of a Sustainable Community 3 NICHOLS Applied Management Research has shown that ‘communities of choice’ are increasingly replacing ‘communities of necessity’ for many highly-skilled workers in the more suburban parts of North America. These individuals are increasingly looking to live in affordable, high quality of life communities – with excellent recreational amenities and clean, safe and family-oriented neighbourhoods – but they are also looking to minimize commuting times associated with travel to and from work. Beaumont’s well-developed social and community infrastructure, natural environment and close proximity to Alberta’s main urban centres all contribute to the Town’s overall quality of life.
    [Show full text]
  • Best Shopping Centers/Malls in Edmonton"
    "Best Shopping Centers/Malls in Edmonton" Created by: Cityseeker 5 Locations Bookmarked Edmonton City Centre "Shop Till You Drop" Edmonton City Centre is where you can head to if you are looking to spend your precious vacation time shopping. For this City Centre is a one stop shopping hub with an wide array of shops to get all your shopping done in a jiffy. The mall has stores which sell varied items like groceries, clothes, accessories and kitchenware to name a few, as also chocolates by IQRemix and cakes. Multiple restaurant options lined up within the premises help satiate your hunger after a tiring shopping spree. After you are done for the day, your weary bones will not have to drag the heavy bags to the public car park, for they have a private one in the basement. +1 780 426 8444 www.edmontoncitycentre. edmontoncitycentre@oxfor 10088 102A Avenue com/ dproperties.com Northwest, Edmonton AB Kingsway Mall "Fit For a King" Situated in close proximity to Edmonton's Downtown district, the Kingsway Mall has approximately 250 top stores including one of the few Disney stores in Edmonton. There are a host of other stores catering to fashion, children's wear, electronics, gifts, health and beauty and footwear apart from a range of dining options. The mall itself is a low-slung, three- by mastermaq story turreted brickwork building with a glass front. Ample parking is available. +1 780 477 5756 www.kingswaymall.com/ sdenney@oxfordproperties 109 Street Northwest, .com Edmonton AB Southgate Centre "Refurbished Mall" The Southgate Centre Mall is located to the south and over the river from Edmonton's downtown district, just to the north of the major Whitemud Drive Highway.
    [Show full text]
  • 2019 ISSP Schedule
    International Summer School Program University of Alberta Date / Time Monday Tuesday Wedseday Thursday Friday Saturday Sunday 07/13/2019 07/14/2019 Morning Arrive in Edmonton - Flight to Settle into Canada Campus Afternoon Residence Date / Time 07/15/2019 07/16/2019 07/17/2019 07/18/2019 07/19/2019 07/20/2019 07/21/2019 Downtown Welcome Lecture: Steadward Morning Lecture Lecture Farmer's Oreintation Hockey 101 Centre PA: History Market Lecture Education Fort PA: Whyte Edmonton Tour on PA: Rock Personal Afternoon Avenue Lecture PA: K - Days Park Campus Climbing Time Discovery Date / Time 07/22/2019 07/23/2019 07/24/2019 07/25/2019 07/26/2019 07/27/2019 07/28/2019 Morning Lecture Lecture Lecture Lecture Lecture PA: South PA: Elk Common / Island PA: Personal PA: Royal National Park PA: Heritage Legislative Time Afternoon PA: Curling Lecture Alberta Festival Assembly of Museum Alberta Tour Date / Time 07/29/2019 07/30/2019 07/31/2019 08/01/2019 08/02/2019 08/03/2019 08/04/2019 Program Activity (PA)/ Morning Lecture Lecture Rocky Mountains Trip play football PA: PA: West (Transportation and posters Drumheller Edmonton accomendation provided. Dinosaur PA: Mall Meals are NOT included.) Edmonton Museum Afternoon Lecture PA: Spin Eskimos Football Date / Time 08/05/2019 08/06/2019 08/07/2019 08/08/2019 08/09/2019 08/10/2019 Personal Morning Lecture Lecture Lecture CCR Time Program Farewell / Acitivity & Prepare to fly Canadian Farewell home Afternoon PA: Yoga Lecture BBQ Lecture Dinner and Presentation Sample Schedule. Subject to change.
    [Show full text]
  • Edmonton Canadá
    CONTÁCTANOS EDMONTON +56 2 25847490 info@globaliza2go.com CANADÁ www.globaliza2go.com "NUESTRO The Festival City. DESTINO NUNCA Nueva Tajamar 481, of. ES UN LUGAR, 1403, Torre Sur, Las Condes, Santiago. SINO UNA NUEVA FORMA DE VER LAS SÍGUENOS EN COSAS." Henry Miller www.globaliza2go.com 3. K-Days K-Days, antes conocido como Klondike Days, CANADA es una exhibición anual que se lleva a cabo a fines de julio en Edmonton. Canadá es un país soberano de América del Norte, cuya forma de gobierno es la 4. Fort Edmonton Park monarquía parlamentaria federal. Es una El parque Fort Edmonton es el museo de nación bilingüe con el inglés y el francés historia más extenso de Canadá y su objetivo como lenguas oficiales en el ámbito federal. es dar testimonio del pasado de Edmonton. Canadá es una nación industrial y tecnológicamente pionera y avanzada, 5. Galeria de Arte de Alberta además tiene a las ciudades con mayor índice en calidad de vida. La galería de arte de Alberta es un espacio de exposición público en el centro de Edmonton, que alberga más de 6.000 obras de arte. 6. Edmonton Valley Zoo EDMONTON El Edmonton Valley Zoo es un pequeño zoológico ubicado en el corazón de Es la capital de la provincia canadiense de Edmonton y está abierto al público los 364 Alberta, así como sede de sus poderes y su días al año, ya que cierra sólo en Navidad. administración. Está ubicada en la parte central de la provincia, una de las zonas más 7. Teatro Citadel fértiles de las llanuras canadienses, en torno al río Saskatchewan Norte.
    [Show full text]
  • Reaching Over 5 Million People, Minutes on the Contest Page and Growing Their Facebook Fan Base
    ICSC CANADIAN SHOPPING CENTRE AWARDS PRESENTS Reaching N E W Heights SEPTEMBER 23, 2014 2014 AWARD WINNERS GOLDEN MOMENT Congratulations to this year’s ICSC Award winners and nominees for their outstanding achievements in excellence and innovation. Oxford Properties Group portfolio includes office developments in major urban centres, luxury resort hotels across the country, and some of Canada’s most prestigious shopping centres. SQUARE ONE, SOUTHCENTRE, SCARBOROUGH TOWN CENTRE, YORKDALE, KINGSWAY MALL, PROMENADES CATHÉDRALE, HILLCREST MALL, UPPER CANADA MALL, LES PROMENADES GATINEAU, EDMONTON CITY CENTRE, LES GALERIES DE LA CAPITALE www.oxfordproperties.com 2014 CANADIAN SHOPPING CENTRE AWARD WINNERS The ICSC Canadian Shopping Centre Awards are designed to honour our industry’s brightest and best. The Awards bring information and insight to the entire industry on what it takes to achieve high levels of success. MARKETING ADVERTISING Centres 150,000 to 400,000 sq. ft. of total retail space SILVER SILVER Get Your Red On It’s The Little Things Cottonwood Mall Eglinton Square Shopping Centre Chilliwack, British Columbia Toronto, Ontario Management Company: Morguard Management Company: Bentall Kennedy (Canada) LP Owner: 2046459 Ontario Inc. Owner: Kingsett Capital Investments Cottonwood Mall had three events wrapped in an effective ad Eglinton Square’s 2013 campaign “It’s The Little Things” was the answer campaign titled “Get Your Red On” which reduced the creative and to a demographic shift in the PTA that saw young families moving into placement costs. The combined media mix drove over 3.2 million post-war bungalows. Family traffic and related tenant sales grew in audience impressions, 9.5% more than projected, and retail sales the double-digits by altering the Centre’s voice to one that was more volume increased an incredible 12.3% for November and 8.6% for family-oriented.
    [Show full text]
  • Court File No.: CV-15-10832-00CL
    Court File No.: CV-15-10832-00CL ONTARIO SUPERIOR COURT OF JUSTICE COMMERCIAL LIST IN THE MATTER OF THE COMPANIES’ CREDITORS ARRANGEMENT ACT, R.S.C. 1985, c. C-36, AS AMENDED AND IN THE MATTER OF A PLAN OF COMPROMISE OR ARRANGEMENT OF TARGET CANADA CO., TARGET CANADA HEALTH CO., TARGET CANADA MOBILE GP CO., TARGET CANADA PHARMACY (BC) CORP., TARGET CANADA PHARMACY (ONTARIO) CORP. TARGET CANADA PHARMACY CORP., TARGET CANADA PHARMACY (SK) CORP., AND TARGET CANADA PROPERTY LLC. THIRD REPORT OF THE MONITOR ALVAREZ & MARSAL CANADA INC. FEBRUARY 27, 2015 TABLE OF CONTENTS 1.0 INTRODUCTION.......................................................................................................................... 1 2.0 TERMS OF REFERENCE AND DISCLAIMER ....................................................................... 4 3.0 REAL PROPERTY PORTFOLIO SALES PROCESS ............................................................. 6 4.0 LEASE TRANSACTION AGREEMENT ................................................................................... 6 5.0 TERMINATION OF THE SUBLEASE/LEASEBACK ARRANGEMENTS WITH TARGET CANADA PROPERTY LLC .................................................................................... 16 6.0 CASH FLOW RESULTS RELATIVE TO FORECAST ......................................................... 18 7.0 MONITOR’S ACTIVITIES ....................................................................................................... 20 8.0 MONITOR’S RECOMMENDATION .....................................................................................
    [Show full text]
  • Retail Snapshot Q2 2016 Edmonton, AB
    MARKETBEAT Retail Snapshot Q2 2016 Edmonton, AB ECONOMIC INDICATORS Spending per person in Alberta is still well above the average for Canada. The national average for spending in March 2016 was National 12-Month $1,214 per person whereas Albertans spent $1,433 – the highest 2015 2016F Forecast amongst all of the provinces. Restaurants and bars remained GDP Growth 1.1% 1.4%* stable in Q2 despite the current downturn, with Albertans CPI Growth 1.1% 1.6%* spending upwards of $720 million in March 2016 alone. Alberta Consumer Spending will see a shift in the restaurant and bar industry resulting in the 1.9% 2.1%* Growth demand for different offerings and concepts. The retail industry Retail Sales Growth 1.7% 3.4%* as a whole has continued to see a shift away from mid-priced retailers. A clear divide in consumer spending has become glaringly obvious where we are seeing strong growth exhibited in 12-Month Regional 2015 2016F Forecast polar opposite segments of the retail market – extreme discount Household Income $104,113 $117,416* retailers and luxury and premium priced retailers. Population Growth 1.9% 1.2%* Outlook Unemployment 5.8% 7.9%* Edmonton has seen some popular additions to its fashion Sources: RBC Economics, Scotia Economics, Finance Ministry of Alberta *2016 industry. Londonderry Mall will be home to Edmonton’s second Forecast Simons department store, with a scheduled opening in Q4 2017, while Saks Fifth Avenue is entering the Edmonton market with two of its “Saks Off Fifth” outlet stores. One will be located in Economy South Edmonton Common (opening Q3 2016) and the other at While most of Alberta’s economy continues to adjust to lower oil Skyview Power Centre (opening Q2 2017).
    [Show full text]
  • ONE-STOP MEDICAL PROFESSIONAL CENTRE a Stunning New State-Of-The-Art Medical Destination Serving Canada’S Fastest Growing City!
    NORALTA REAL ESTATE NOW LEASING! EDMONTON’S ONE-STOP MEDICAL PROFESSIONAL CENTRE A stunning new state-of-the-art medical destination serving Canada’s fastest growing city! trategically located on the Enoch Cree Nation at the western edge of Edmonton Alberta, River Cree Crossing Medical Professional Centre is an exciting opportunity to be part of an exclusive community of medical services and healthcare Sprofessionals! • A one-stop destination for medical and health services • 70,000 square feet of available space • State-of the art facility and amenities • Complementary services and exclusive opportunities • Serving greater Edmonton and all of Northern Alberta (population 1.4+ million) • Major draw for Alberta’s Indigenous population • Adjacent to Edmonton’s leading hotel-casino • 20,000 square feet of available meeting and convention space • Close to theatres, restaurants and shopping • 5 minutes from West Edmonton Mall (30 million visitors annually) • 20 minutes from downtown Edmonton and from Edmonton International Airport • Easy access via 2 major freeways EDMONTON’S • High traffic location ONE-STOP MEDICAL PROFESSIONAL CENTRE • Ample free parking rivercreecrossingdevelopment.com THE OPPORTUNITY... re-leasing is now underway for River Cree Crossing, a planned for early 2018. This phase consists of two (2) 25,000 state-of-the-art one-stop medical professional centre. square foot office buildings and a 6,500 square foot gas bar PConstruction is scheduled to start in mid 2018, with convenience store inclusive of a food service, post office and completion in 2019. a twelve (12) bay wand car wash and one (1) automated River Cree Crossing is Phase II of an ambitious long-term car wash.
    [Show full text]
  • Uauniversity of Alberta, Canada
    UA University of Alberta, Canada Great Destination for CAS, CEN and SBA Majors University of Alberta: limited, and the number of spaces available for AUS The University of Alberta (UA) is one of Canada’s top placements will vary from semester to semester. universities and among the world’s leading public That means that sometimes, access to these spaces research-intensive universities, with a reputation for will be competitive based on your cumulative GPA, excellence across the humanities, sciences, creative Essay, Reference Letters, and other considerations. arts, business, engineering, and health sciences. AUS International Exchange Oce (IXO) will try to accommodate your rst choice placements wherever UA is a busy place – 38,000 students across 18 possible, but you should always list several programs faculties at five separate campus locations – four in your application, in case space is not available in in Edmonton, one in Camrose – plus other unique your first choice university. locations across the province. North Campus – this is the main campus located in Edmonton. Students Length of Stay: One or two semesters. might also be able to take classes at Faculty Saint Jean located about 4 km to the East and connected to the North Campus by free shuttle service multiple Courses at the Host: times per day. CAS: Students may register for any CAS courses. Edmonton is the capital of the Canadian province CEN: The College of Engineering is CEAB accredited of Alberta. Edmonton is a cultural, governmental which is the Canadian body for ABET. The available and educational centre. It hosts a year-round slate engineering programs at UA are: Biomedical, Chemical of festivals, reflected in the nickname “Canada’s and Materials, Civil, Electrical and Computer, Mechanical, Festival City”.
    [Show full text]
  • Beyond the West Edmonton Mall: an Architectural Historian Discovers Alberta by Dorothy Field
    Both the Varscona Theatre and the Eaton's department store were built, in 1939 and demolished in 1987. Beyond the West Edmonton Mall: an Architectural Historian Discovers Alberta by Dorothy Field When I first came to Edmonton from Victoria just under two years through the city, the enormity of the project was becoming clear. Ed­ ago, my expectations were not high. Like many with no first-hand ex­ monton, it appeared, had a rather large number of buildings fitting my perience of the city I subscribed, by default, to the stereotypical view criteria (predominantly in the Moderne category) scattered all over the of Alberta in general and Edmonton in particular as a place with no city. Recording them was turning out to be a much bigger job than history and no real architecture. After all, I knew I would find no Ver­ expected. sailles, no Ankor Wat, no Forbidden City, no Empire State Building, just It is rather ironic that though large commercial buildings in these the West Edmonton Mall. For an architectural historian there did not styles naturally attracted more attention than small residential projects seem to be much to look forward to. when constructed, few examples now remain of the more spectacular As luck would have it I was immediately proven wrong. To my sur­ essays in Moderne and Art Deco in Edmonton, Redevelopment, especial­ prise and delight I arrived during a genuine architectural controversy. ly in the city's downtown core, has claimed all but a few of these struc­ A Moderne style theatre of 1940-the Varscona-was about to be tures.
    [Show full text]
  • THE FUTURE of RETAIL in DOWNTOWN EDMONTON DOWNTOWN BUSINESS ASSOCIATION of EDMONTON 10121 Jasper Ave NW Edmonton, AB T5J 4X6
    2018 THE FUTURE OF RETAIL IN DOWNTOWN EDMONTON DOWNTOWN BUSINESS ASSOCIATION OF EDMONTON 10121 Jasper Ave NW Edmonton, AB T5J 4X6 www.edmontondowntown.com To Support, Connect, and Enrich Edmonton’s Downtown Community REPORT RESEARCHED AND WRITTEN BY: Mohammed Siddique Photo Credit: Jeff Wallace CONTENTS 2 Introduction 3 Methodology 01. BACKGROUND 4 History of Shopping 5 Shifts in the Customer Shopping Habits 02. DOWNTOWN PROFILE 8 Downtown Profile 11 Retail in Downtown 03. SURVEY & ANALYSIS 14 Survey & Analysis 04. STRATEGIES FOR RETAIL 28 Strategies for Retail 30 Popular Retail Streets in Canada 32 Key Takeaways 34 Think Residential DOWNTOWN BUSINESS ASSOCIATION 2018 REPORT 1 INTRODUCTION The Downtown Business Association (DBA) of Edmonton is proud to be providing value to our members and wants to ensure that we continue channelling our efforts to make Downtown more vibrant and inviting. Every year since 2004, the DBA has compiled a report on a topic of relevance to Edmonton’s Downtown business community. In this year’s report, we discuss the changes OBJECTIVE in consumer shopping habits and analyze The Future of Retail and a growing the preferences of consumers for shopping Downtown, the theme outlined here is in Downtown Edmonton. We also discuss the based on an assessment of the current factors that affect consumer shopping and retail landscape in Downtown Edmonton. how we can better prepare for the population The objective of the report is to study the infill that will be happening Downtown over the Downtown neighbourhood, consumer next 5-10 years to increase the quality of living preferences and shopping habits of the in the Downtown neighbourhood.
    [Show full text]