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Mayor Don Darling just shared a report by the city’s Commissioner of Growth and Community Development Services.
Here are the top 3 salient points relating to commercial real estate:
- Major project construction accounted for more than half of the 80 million dollars of construction projects in 2016. Notably phases one and two of the IOL home office project, the new Uptown Liquor store and retail expansion in East Point, McAllister Mall and in Millidgeville.
- Another portion of the $80 Million included re-investment in the City’s Heritage districts including major renovations to the Imperial Theatre and 20 other smaller heritage renovation projects. The City’s heritage districts were funded by the city’s heritage incentive program.
- There is 137,493 square meters (that’s almost 34 acres!) of vacant land in our prime central neighbourhood, at rates a fraction of the cost of Canada’s major cities, and ready to be developed. The land is a mix of commercial & residential. The map below shows some of the commercial opportunities.
READ MAYOR DON DARLING’S ENTIRE UPDATE HERE (3 minute read)
As a follow up to the Country 94 story that ran earlier today, it has been confirmed that the Starbucks in Brunswick Square will be closing on November 5th with no replacement location planned in the uptown.
A Starbucks representative did say that they will be focusing on locations with drive-thru’s in the future.
Although no specific reason was given, it’s likely safe to say that our “buy local” loyalty to the home grown and (in my humble opinion) excellent Java Moose and the (to make matters worse) opening of Second Cup on King Street likely had an impact on the performance of Starbucks’ uptown location.
This is an unfortunate blow for the uptown and for Brunswick Square.