October 2017
Increased cost of land and city intensification requirements are resulting in more residential/retail developments.
At first we saw small retailers locating at street level in condo buildings. There may have been a small grocery store, café or hair salon. Today it is common to find major retailers locating in condo buildings including LCBO, Aroma and Rexall Pharmacy. Unlike smaller retail, this large retail looks to an entire area as their market rather than the building where they locate.
We also see large condo buildings locating around regional shopping centres that include Scarborough Town Centre, Promenade, Hillcrest and Fairview malls. Increasingly, malls are seen as destinations where people work, shop, relax and play. Retailers have a large local market within walking distance and residents have easy access to products and services they require and desire.
