Retail Viability and Competition

The vacant buildings are primarily commercial units in aging buildings that are a result of changing commercial demands. As the commercial market changes, the demand for commercial space changes and like many downtowns and core area neighbourhoods across North America, commercial vacancies increased as new suburban commercial formats have dominated the market. In addition, a shift of consumer behaviour to online shopping has reduced the demand for commercial space. Recently, the COVID-19 pandemic has changed the demand for commercial space, and the long term impacts are still not determined. Specifically, the retail market has changed and this can be seen in the commercial data as well, as most of the commercial occupants are in the business service industry or restaurant industry. The map below shows commercial competition within a 2km radius of the study area.