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Old Posted May 1, 2020, 5:59 PM
scryer scryer is online now
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Small Businesses vs New Developments

Up a little further North, and a little further West in the Vancouver, BC Canada forums we were discussing and speculating on how small businesses seemed to be able to thrive in NYC despite its land shortage driving up rents and commercial space expenses. However I just wanted to do run by some comparisons with our densely developing eastern neighbours.

Firstly I just want to double check to see if Toronto's small business scene is a place where small businesses can easily start up?

Secondly I was wondering if small business startups (say a restaurant) that require commercial space struggle to find space or afford commercial space costs?

Lastly I was also wondering in the case of an older building being replaced by a taller building (with commercial space on ground level); what would happen to the small business occupying the older building? Does the small business just move to another commercial opportunity or is there a city policy that encourages the new developer to reimburse the small business in any way?

I'm going around these forums collecting data insights on various cities and I do think that Toronto has a better small business scene than Vancouver. However as Vancouver grows denser and taller, I find that the newer buildings are only attracting larger chain businesses and that the small businesses are pushed out of the core of the city - which is a problem that I think that Toronto faces as well? I understand that this phenomena is not anything new but I do think that Toronto's small businesses are still very predominant in the core despite facing the conundrum of them getting replaced. And so I was wondering if there were any city policies that were partly responsible for maintaining their presence?

Any insights would be greatly appreciated!
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Old Posted Jun 2, 2020, 7:02 PM
C. C. is offline
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Quote:
Originally Posted by scryer View Post
Up a little further North, and a little further West in the Vancouver, BC Canada forums we were discussing and speculating on how small businesses seemed to be able to thrive in NYC despite its land shortage driving up rents and commercial space expenses.
Well, that's a misconception. There has been several news articles about the business gentrification of NYC. Many small businesses are being forced to close due to rising rents and property owners have been opting to keep the storefronts vacant in hopes of attracting china retail like a starbucks or bank branch than lowering the rents. It has lead to sterilization of some of the city.

Empty Storefronts Jolt NYC Council Into Action on Small Business
https://www.bloomberg.com/news/artic...small-business

What Could Kill My New York Bookstores?
It won’t be Amazon or the coronavirus. It will be artificially high rents.

https://www.nytimes.com/2020/05/29/o...ness-rent.html

Empty Stores Are Killing New York City.
For decades, the city has mulled rent control for small businesses. As the city’s wealthiest areas fill with vacant shops, lawmakers are taking another look.

https://www.citylab.com/equity/2018/...ontrol/574069/

SkyscraperPage Thread from 2018 on the topic
https://skyscraperpage.com/forum/sho....php?p=8350608
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