Quote:
Originally Posted by lrt's friend
It is odd but it looks like my comment is true, that condos are actually pushing retail and entertainment out of downtown. The success of expensive condos is raising the price of building space to the point that retail business is having difficulty being competititive especially in comparison with suburban locations. In a way, this is more alarming than I originally thought. I think this may also relate to a trend in the Byward Market where it is becoming more and more difficult to maintain a good mix of businesses. A case of unintended consequences, but is there a solution?
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That is true, but wouldn't it be the case that these stores are leaving because they can't afford the rent increase, as they aren't doing well for sales? If they had more people spending money they could pay for the increased rent, right? So wouldn't an increase of people be more important for them to earn more money to pay for the rent?
As of yet, we don't have enough people living in the downtown core, just several projects that are making property values increase without adding a population - yet. If this is the case, when Slater, Tribeca, and a few other condos are down there could be more people and either new stores could come in and afford rent or current ones would have a greater market.
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