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Calgary Retail Thread

Anyone walked the streets of the core lately? Take any avenue (8th to 12th) between Macleod Trail to 14 St SW. There are literally dozens and dozens of street level spaces that are empty and for lease particularly in older buildings. Included in those observations are all the new spaces in Park Central and Upten which are finished but not leased out.
Then in the next year or so, all of this additional retail space will be added to the mix
1. Curtis Block
2. West Village
3. Place 10
4. 11 & 11th
5. The District (IBM building)

This is not counting East Village which still has some retail space available or any of the food courts/concourses in the downtown office buildings. I can only imagine the emptiness of those spaces and how unlikely any of those retail/hospitality businesses are going to come back. Come back to what?
 
I keep forgetting to mention, First Street Market (in the Underwood) is opening "this spring". Nothing on their website but the windows have been covered with new media showing it's opening sometime this spring. So here's hoping.




In regard to Jonny's concern, I agree it's a pretty terrible situation at the moment, but keep in mind many of these buildings are being or will be completed during a global economic catastrophe. Along with that, the reality is that as the population of downtown increases, so will retail density (or at least demand). I have heard that a main retail unit in Park Central has been leased so that's a start. The population of the Beltline is blowing up, and is likely past 30,000 as of this year. Growing at about a thousand per year, I can see retail density start to really ramp up especially in the east Beltline where things are sparse right now. I believe this will especially accelerate once the arena is finally underway.
 
Anyone walked the streets of the core lately? Take any avenue (8th to 12th) between Macleod Trail to 14 St SW. There are literally dozens and dozens of street level spaces that are empty and for lease particularly in older buildings. Included in those observations are all the new spaces in Park Central and Upten which are finished but not leased out.
Then in the next year or so, all of this additional retail space will be added to the mix
1. Curtis Block
2. West Village
3. Place 10
4. 11 & 11th
5. The District (IBM building)

This is not counting East Village which still has some retail space available or any of the food courts/concourses in the downtown office buildings. I can only imagine the emptiness of those spaces and how unlikely any of those retail/hospitality businesses are going to come back. Come back to what?
With Covid the way it is, businesses aren't rushing to lease new spaces.it'll be slow going until everyone is confident it's over.
 
I can only imagine the emptiness of those spaces and how unlikely any of those retail/hospitality businesses are going to come back. Come back to what?
can't say i agree with this, people are chomping at the bit to get out, just look at 17th ave on any nice day, every patio is packed and people are everywhere. once the vaccinations are more widespread there's going to be a huge spending boom
 
can't say i agree with this, people are chomping at the bit to get out, just look at 17th ave on any nice day, every patio is packed and people are everywhere. once the vaccinations are more widespread there's going to be a huge spending boom
My comment was in reference to the retail/hospitality spaces in food courts, office concourses, Plus 15 level etc. The end of the pandemic won't solve the problem that tens of thousands of jobs have been lost in the downtown core whether they be permanent layoffs or people working permanently from home. I feel for those small business owners who are closed and may not make a go of it when things reopen.
 
I won't be that sad if retail investment in this city moves from the Plus 15 to the streets of the Beltline, East Village, Kensington, and Inglewood. The Plus 15 is going to need a massive rethink. It's going to have to become far more diversified, less corporate, and more publicly-minded. The fact that a censorship controversy caused a bunch of local galleries to pull out of the Plus 15 back in 2018 is exactly the opposite of what needs to happen.
 
I keep forgetting to mention, First Street Market (in the Underwood) is opening "this spring". Nothing on their website but the windows have been covered with new media showing it's opening sometime this spring. So here's hoping.
Does it specifically say Spring 2021? Pretty sure it was supposed to open Spring 2020, and last I was by there in December / January there were no tenants even moving in yet.
 
Yeah it just says specifically "Spring 2021", I'll grab a pic tomorrow/today.
 
Anyone walked the streets of the core lately? Take any avenue (8th to 12th) between Macleod Trail to 14 St SW. There are literally dozens and dozens of street level spaces that are empty and for lease particularly in older buildings. Included in those observations are all the new spaces in Park Central and Upten which are finished but not leased out.
Then in the next year or so, all of this additional retail space will be added to the mix
1. Curtis Block
2. West Village
3. Place 10
4. 11 & 11th
5. The District (IBM building)

This is not counting East Village which still has some retail space available or any of the food courts/concourses in the downtown office buildings. I can only imagine the emptiness of those spaces and how unlikely any of those retail/hospitality businesses are going to come back. Come back to what?
to thousands of new residents that have moved into the area in the last couple of years?
 
Yeah it just says specifically "Spring 2021", I'll grab a pic tomorrow/today.
I peeked into the Windows and I could see people inside working 👍

B8AACC07-C5BD-4C13-A50E-AF0F6F76B5A6.jpeg
 

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