Station Park | 18, 28, 36, 40, 50 fl | U/C

[CP42]

A few years back I had a discussion with a DTK property owner who was trying to get a grocery store tenant, and he told me that at the time the big chains were telling him that DTK needed something like 10,000 more residents in order to warrant a downtown store. DTK has grown since and is definitely still growing. But is it enough? That's a question only the store planners can answer. Until now, nobody has bit, and it hasn't been a question of available space, either.

So, I'm not saying it won't happen, but having a nice retail space for a grocery store doesn't guarantee a grocery store tenant.

The proposed grocery store is part of the last phase, so it's a pretty long ways out. A building like that is probably 4 years from start of construction to full occupancy, and they haven't even started selling earlier phases. By the time it's open I have little doubt that DTK will have added 10k residents.

Station Park alone will have just under 2,000 units by the time the store is completed - of which many will have multiple people living in them. Say that’s about 3,000 people there, or a third of the requirement alone. Then consider garment street, Charlie west, DTK, Q Condos, Young Condos, 30 Francis, Victoria and Park, and all the others going in and 10,000 doesn’t seem very unreasonable in the next 5-6 years at all.