01-07-2020, 03:30 PM
[quote="jgsz" pid='76184' dateline='1578339255']
Retail revitalization in downtown Kitchener? Give it another 2 years, city says
I wish the article included investigation into why commercial rental rates are as high as they are. I'd expect the high vacancy rate to drive down prices, but it doesn't seem to be happening. In theory, lower rents would enable more interesting and independent shops to open downtown, accelerating retail revitalization and making it a more appealing place to live and visit. As it is, though, it seems like a lot of property owners are holding out for big money tenants, leaving prominent retail spaces vacant and depressing.
I'd love to see reporting on why property owners don't reduce their rental prices in the face of high vacancy rates. The current state of affairs is so confusing and destructive.
Retail revitalization in downtown Kitchener? Give it another 2 years, city says
I wish the article included investigation into why commercial rental rates are as high as they are. I'd expect the high vacancy rate to drive down prices, but it doesn't seem to be happening. In theory, lower rents would enable more interesting and independent shops to open downtown, accelerating retail revitalization and making it a more appealing place to live and visit. As it is, though, it seems like a lot of property owners are holding out for big money tenants, leaving prominent retail spaces vacant and depressing.
I'd love to see reporting on why property owners don't reduce their rental prices in the face of high vacancy rates. The current state of affairs is so confusing and destructive.