Pop-up shops might start popping up more often in downtown Edmonton if the city moves ahead with recommendations to deal with high downtown office vacancy rates.
The city’s executive committee weighed options Tuesday from a report by city administration alongside the Edmonton Economic Development Corp. and the Building Owners and Managers Association Edmonton. Suggestions included mixed-use incubator spaces, pop-up retail shops and reducing or removing parking space regulations.
“Edmonton’s downtown will be largely residential and I think it’s going to be a spectacular downtown for that reason,” said Coun. Scott McKeen after the committee discussion. “You won’t roll up the carpet at five 0’clock …. I think ours can be very different and very attractive to live in.”
Other recommendations put forward include a tax deferral to incentivize landowners to convert office space for other uses or a “matchmaking” website connecting short-term tenants and landlords
The office vacancy rate downtown sits at 18 per cent and is expected to climb if old space isn’t put to new uses. The opening of Stantec Tower in 2018 will add another 650,000 square feet of space to the downtown core.
Mayor Don Iveson called the vacancy rate “concerning,” but is happy stakeholders and building owners are discussing the issue.
“Obviously, we’ve had a lot of new investment,” said Iveson, but added he wants more conversion of empty space to other uses such as housing and hotels.
“I think we benefit from that kind of conversion and I want the city to be supportive in enabling that and not slowing down the opportunity for those conversions.”
The mayor hinted another business will be announcing a move to the downtown core, but wouldn’t give further details, saying only that “it’s a great company that’s going to bring lots of people downtown.”
Administration will bring more solid plans to council in July 2018.
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