Quote:
Originally Posted by scootaround
Agree to disagree on the mall being stuck as a utilitarian beast. Major new arrivals are making it clear- to me at least, that the mall is doing well and attracting a better clientèle.
Just a few years ago, when the LCBO was in the east end of the mall, it was a dump at that end. Now there's mac and freshii and Koodo and more.
As for comparisons to Limeridge, I personally find Limeridge cold and uninviting. Sure it's new and fancy but the food court is hard to get around and its essentially just a long hallway.
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Mall tenants have obviously made substantial investments in JS (without the benefit of 100-year leases, one presumes). And yes, demographic are changing. But I don't think that's because Yale/Real has made an ambitious revamp their focus — they're mainly enjoying the windfall of other parties' investments.
I would contend that demographic shift is because of external factors in recent years — including but not limited to the $10M MacNab Transit Terminal, the $14M HPL/Farmers Market revamp, Vrancor's adjacent developments (eg. the $35M Homewood Suites on Bay, the $100M Regency on Main, their
$10M refresh of the Sheraton – with
Starbucks franchise), the arrival of a
$7M Nations Fresh, McMaster's $85M health campus, McMaster opening a continuing ed campus in the mall, the sale of Empire Theatres to Landmark and subsequent cinema revamp, Public Health relocating from the Right House, the Chamber of Commerce relocating from the harbourfront, and of course the exuberant real estate valuations that have sparked newfound interest in downtown investment and spun off countless residential and commercial projects downtown — rather than Yale/Real initiatives such as
reworked entrances, a new food court, Dyson restrooms, a new logo and colourful wayfinding tools.
Not that those things don't help, but they appear to have
followed the market, not led it.
I invoke LRM not because I think it's a retail nirvana but because it's an example of how Jackson Square's competitors operate.