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+--- Thread: 387-397 King St E and 6 Madison Ave | 2 & 8 fl | U/C (/showthread.php?tid=206)
RE: 387-397 King St E and 6 Madison Ave | 20m | 5 fl | proposed - tomh009 - 09-18-2019
(09-18-2019, 09:05 AM)robdrimmie Wrote:(09-18-2019, 12:50 AM)tomh009 Wrote: Yes. But my point is that all the space is available at this time, so there is no supermarket tenant secured. At best we have some suitable space for an urban supermarket. Finding a taker for it may still prove a challenge.
Isn't this B&T's project? If that is true, it seems reasonable to assume which grocery will occupy the space.
I have assumed that this was B&T as well. But the realtor appears to be offering all of the ground-floor retail space for lease.
RE: 387-397 King St E and 6 Madison Ave | 20m | 5 fl | proposed - panamaniac - 09-18-2019
(09-18-2019, 09:05 AM)robdrimmie Wrote:(09-18-2019, 12:50 AM)tomh009 Wrote: Yes. But my point is that all the space is available at this time, so there is no supermarket tenant secured. At best we have some suitable space for an urban supermarket. Finding a taker for it may still prove a challenge.
Isn't this B&T's project? If that is true, it seems reasonable to assume which grocery will occupy the space.
Is it? I understood that the developer was from Toronto, although that goes back to the time the St Clair TV business was closing down.
RE: 387-397 King St E and 6 Madison Ave | 20m | 5 fl | proposed - Spokes - 09-18-2019
(09-17-2019, 05:18 PM)panamaniac Wrote:(09-17-2019, 04:27 PM)tomh009 Wrote: The setback could allow for nice outdoor patio space for restaurants or bars. At least it's not for parking!
27,000 sqft of retail space looks like the total for the condo building and the retain building footprints. So as much as I was hoping that there was a supermarket (BT?) signed up for this space that does not look to be the case.
The supermarket is to go into the two storey building, or at least that was the way I understood it.
That was my understanding.
RE: 387-397 King St E and 6 Madison Ave | 20m | 5 fl | proposed - tomh009 - 09-18-2019
(09-17-2019, 02:41 PM)taylortbb Wrote:(09-17-2019, 02:38 PM)Spokes Wrote: Does anyone know the sequence of the development here? Any chance the two storey building could grow later on if planned in a subsequent stage
It looks like the two storey building is what they're doing first, just from the fact it's already excavated while the condo part of the lot remains mostly untouched since demolition.
No equipment on site as of early this morning.
RE: 387-397 King St E and 6 Madison Ave | 20m | 5 fl | proposed - robdrimmie - 09-18-2019
(09-18-2019, 10:56 AM)panamaniac Wrote:(09-18-2019, 09:05 AM)robdrimmie Wrote: Isn't this B&T's project? If that is true, it seems reasonable to assume which grocery will occupy the space.
Is it? I understood that the developer was from Toronto, although that goes back to the time the St Clair TV business was closing down.
My source is this article. I think it is relevant that nothing in the article suggests B&T itself would move in to the space.
https://www.therecord.com/news-story/8969970-kitchener-development-includes-grocery-store-60-apartments
Part of what has primed us to make the assumption that B&T is moving in is the renders on the project site (which have the grocery in the wrong building so are likely not actually meaningful plans): https://www.fryettarchitect.com/portfolio-view/387-king-street/
![[Image: 01-387-King-grey-siding-reduced-size.jpg]](https://www.fryettarchitect.com/wp-content/uploads/2014/12/01-387-King-grey-siding-reduced-size.jpg)
I think listing the entire space makes a lot of sense though. If I am a business owner and a landlord, then I can run my business on my property but I don't have to. If I can lease out that property for more money than my business can afford, then it's in my interest to lease my property and run my business where it is less expensive.
I have no idea what the difference in cost between listing a floor of office space versus a floor of office space and a floor of retail space but I think any such cost is born by the broker - in most commercial real estate situations, I think brokers don't get paid until there's a tenant? - not the landlord. That all seems like no or negligible financial risk on the landlord's part, for potentially significant gain.
RE: 387-397 King St E and 6 Madison Ave | 2 & 5 fl | U/C - Acitta - 09-18-2019
It would be nice if Farm Boy opened a downtown store.
RE: 387-397 King St E and 6 Madison Ave | 2 & 5 fl | U/C - Spokes - 09-18-2019
Would that hurt the Market?
RE: 387-397 King St E and 6 Madison Ave | 2 & 5 fl | U/C - Acitta - 09-18-2019
I don't think so. Farm Boy is more upscale and the market only runs on Saturday. With all of the expensive condos going into the downtown, I think that an upscale grocery store like Farm Boy would do well.
RE: 387-397 King St E and 6 Madison Ave | 2 & 5 fl | U/C - Spokes - 09-18-2019
I think it'd be a great fit too, just wouldn't want to hurt the Market
RE: 387-397 King St E and 6 Madison Ave | 2 & 5 fl | U/C - panamaniac - 09-18-2019
(09-18-2019, 01:22 PM)Spokes Wrote: Would that hurt the Market?It would more likely help the Market by expanding the area as a food destination, istm.
RE: 387-397 King St E and 6 Madison Ave | 2 & 5 fl | U/C - BruceAshe - 09-18-2019
(09-18-2019, 12:57 PM)Acitta Wrote: It would be nice if Farm Boy opened a downtown store.
As someone who lives in the neighbourhood I would love a Farm Boy to open there. Although, I'd also be happy with B&T moving to a bigger space. Shopping at B&T on a Saturday can be similar to playing a full contact sport.
RE: 387-397 King St E and 6 Madison Ave | 2 & 5 fl | U/C - KevinL - 09-18-2019
If a place like Farm Boy opened I picture them somewhere further west in downtown. This area still carries a bit of downmarket stigma.
RE: 387-397 King St E and 6 Madison Ave | 2 & 5 fl | U/C - panamaniac - 09-18-2019
(09-18-2019, 05:38 PM)KevinL Wrote: If a place like Farm Boy opened I picture them somewhere further west in downtown. This area still carries a bit of downmarket stigma.
Ottawa's Farm Boys are not all located in posh neighbourhoods. I'm still thinking it's going to be an Asian supermarket of some description.
RE: 387-397 King St E and 6 Madison Ave | 2 & 5 fl | U/C - tomh009 - 09-18-2019
And I think that stigma will be quickly evaporating over the next five years.
RE: 387-397 King St E and 6 Madison Ave | 2 & 5 fl | U/C - DK519 - 09-24-2019
(09-18-2019, 05:38 PM)KevinL Wrote: If a place like Farm Boy opened I picture them somewhere further west in downtown. This area still carries a bit of downmarket stigma.Unfortunately, you're probably right about that this year.
I also live in the area though and I think there is enough demand for a Farm Boy that is a little more upscale while not entirely a specialty store.
I think it would be a no-brainer once the Drewlo towers and Market Flats are done.