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Wide sidewalks key to help commercial real estate weather the pandemic

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commercial real estate

An economic rebound in commercial retail amid the continuing COVID-19 pandemic may be right under our feet – in the sidewalks we walk on. The key, however, depends on how wide they are.

The positive effects of wide sidewalks as opposed to narrow ones are easy to see, according to Val Rynnimeri, an associate professor of architecture at the University of Waterloo’s School of Architecture. Commercial streets that have them are experiencing a faster return of people and therefore business than those that don’t.

Perhaps the best example, he says, is Baldwin Street in downtown Toronto. Home to a concentrated cluster of bars, restaurants, and cafés that have taken advantage of wide sidewalks with long rows of patios, the stretch between McCaul and Beverley streets is surprisingly vibrant.

Baldwin Street is home to a concentrated cluster of bars, restaurants, and cafés that have taken advantage of wide sidewalks with long rows of patios.

This development, which resembles an outdoor mall, is a possible template for how Toronto and other cities go forward as the pandemic continues.

“That might be the most COVID-friendly street in the city: big sidewalks, places to spill out onto and a nice backdrop [of residential homes],” Prof. Rynnimeri says. “That’s what retail in a post-COVID world should look like.”

With health officials saying that virus transmission is less likely outdoors than indoors, many Canadian cities have adopted temporary measures to allow businesses to extend their operations onto streets. The problem, however, is that not many streets – or sidewalks specifically – are designed to handle such a shift, even in the short term.

Many Canadian cities have adopted temporary measures to allow businesses to extend their operations onto the streets.

Prof. Rynnimeri says that with COVID-19 likely persisting for some time, commercial real estate operators and developers are going to be forced to adapt to this reality. Projects that are currently under development may need to consider the role that sidewalk widths play, not just over the course of the pandemic, but also in the long-term prosperity of an area.

Wide sidewalks played a historic role in establishing downtown Toronto as a retail destination, he adds – particularly the section of Queen Street West between Spadina Avenue and McCaul, just a few blocks from the retail and restaurant cluster on Baldwin Street.

Queen Street started becoming a hub in the late 1970s after a host of discos opened up further north in Yorkville. Hipster crowds looking for an alternative migrated south where they found the Horseshoe Tavern, the Rivoli, the BamBoo, and other bars with their ample sidewalk patio spaces.

The crowds they drew eventually led to a variety of hip businesses such as clothing stores and record shops popping up, which established the area as some of the most valuable commercial real estate in the city.

“That was really the beginning of Queen Street as a place to go to,” Prof. Rynnimeri says. “It was about being able to spill out into the street.”

Michael Hannay, a principal with Toronto-based design firm MBTW Group, says businesses that have been situated on wide sidewalks have indeed traditionally benefited, especially in the case of restaurants and bars with patios.

But despite that, they’re all going to have to contend with the inevitability of worse weather.

“Come winter, the advantage of how wide your sidewalk is goes out the window,” he says. “Streetscape design isn’t going to be a factor at all because an enclosed, heated patio is indoor space. It’s not going to be a factor for much longer.”

Queen Street started becoming a hub in the late 1970s after a host of discos opened up further north in Yorkville.

Other urban design experts suggest that’s where innovation is needed.

A number of winter-prone countries and municipalities have experimented with various cold-fighting technologies over the past few years. The Netherlands, for example, has been building heated bike paths in its cities. Vancouver, meanwhile, created a system that drew heat from sewers to help warm the Olympic Village in 2010.

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“We do need to think creatively and be willing to experiment,” says Shauna Brail, associate professor at the Institute for Management and Innovation at the University of Toronto. “This is the push we didn’t know we needed.”

Prof. Brail points to work done by Toronto-based architecture firm Partisans for Google sister company Sidewalk Labs on “building raincoats,” unveiled last year, as an example of the innovation that cities will need more of, in part to keep commercial real estate alive.

The “raincoat” is essentially an awning consisting of hexagonal plastic panels that attach to the front of a building. Its purpose is twofold – to protect the building from the elements and to provide a sheltered space for outdoor activity, such as a patio.

A variety of hip businesses such as clothing stores and record shops established the Queen Street area as some of the most valuable commercial real estate in the city.

Alexander Josephson, an architect, and co-founder of Partisans, says the raincoats were experimental prototypes that may not end up being deployed because of intellectual property issues associated with Sidewalk Labs, which pulled out of Toronto earlier this year.

Nevertheless, he expects to see more of these types of experiments – on how to make streets more like malls, regardless of the weather – now that the pandemic is forcing a more liberal approach to city planning and how commercial real estate is used.

“It’s a watershed moment in the decolonization of Toronto streets,” he says, referring to historical, long-standing puritanism – especially as it pertains to alcohol regulation – in how city government views property. If there’s a bright side to the pandemic, it’s that novel ways of using streets and properties will now get more consideration.

“It took COVID and an economic crisis for us to let go,” he adds.

Importance Of Commercial Cleaning Services

As an employer, it’s important to take care of your company. This can be done by making sure that your employees are clean and free of diseases at all times. This can be done by ensuring that the office is cleaned and sanitized before they go to work every day.

However, commercial buildings are generally more difficult to maintain because of the amount of waste and debris that often needs to be cleared. One of the best ways for businesses to maintain a clean and hygienic environment within the building is by hiring commercial cleaning services, such as City Wide.

Here are the important benefits of hiring commercial cleaning services:

  • Ensure a hygienic workplace, reducing the possibility of a disease outbreak.
  • Professional commercial cleaners are trained and experienced in keeping the area clean and hygienic, ensuring that your employees are well-protected.
  • Build a good professional image for your clients and investors by having a clean and orderly commercial space.

In addition, here are a few tips that’ll help you find out whether the cleaning company that you’re planning to hire has done a good job or not.

  • First of all, look at the customer testimonials. If a company has many positive reviews, they probably provide good service. It’s always recommended to do a background check on a company before hiring them because if there are any legal issues, then you need to know about them as well.
  • You also need to make sure that they have all the licenses that they need to carry to do their job effectively. When looking for a company to do your cleaning, you should look at their history and check whether they have been in business for several years.
  • Another way to find out whether the company’s background checks are up to scratch is by checking whether the company offers a guarantee on their work.

 

 

 

Source: – The Globe and Mail

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National housing market in ‘holding pattern’ as buyers patient for lower rates: CREA

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OTTAWA – The Canadian Real Estate Association says the number of homes sold in August fell compared with a year ago as the market remained largely stuck in a holding pattern despite borrowing costs beginning to come down.

The association says the number of homes sold in August fell 2.1 per cent compared with the same month last year.

On a seasonally adjusted month-over-month basis, national home sales edged up 1.3 per cent from July.

CREA senior economist Shaun Cathcart says that with forecasts of lower interest rates throughout the rest of this year and into 2025, “it makes sense that prospective buyers might continue to hold off for improved affordability, especially since prices are still well behaved in most of the country.”

The national average sale price for August amounted to $649,100, a 0.1 per cent increase compared with a year earlier.

The number of newly listed properties was up 1.1 per cent month-over-month.

This report by The Canadian Press was first published Sept. 16, 2024.

The Canadian Press. All rights reserved.

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Two Quebec real estate brokers suspended for using fake bids to drive up prices

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MONTREAL – Two Quebec real estate brokers are facing fines and years-long suspensions for submitting bogus offers on homes to drive up prices during the COVID-19 pandemic.

Christine Girouard has been suspended for 14 years and her business partner, Jonathan Dauphinais-Fortin, has been suspended for nine years after Quebec’s authority of real estate brokerage found they used fake bids to get buyers to raise their offers.

Girouard is a well-known broker who previously starred on a Quebec reality show that follows top real estate agents in the province.

She is facing a fine of $50,000, while Dauphinais-Fortin has been fined $10,000.

The two brokers were suspended in May 2023 after La Presse published an article about their practices.

One buyer ended up paying $40,000 more than his initial offer in 2022 after Girouard and Dauphinais-Fortin concocted a second bid on the house he wanted to buy.

This report by The Canadian Press was first published Sept. 11, 2024.

The Canadian Press. All rights reserved.

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Montreal home sales, prices rise in August: real estate board

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MONTREAL – The Quebec Professional Association of Real Estate Brokers says Montreal-area home sales rose 9.3 per cent in August compared with the same month last year, with levels slightly higher than the historical average for this time of year.

The association says home sales in the region totalled 2,991 for the month, up from 2,737 in August 2023.

The median price for all housing types was up year-over-year, led by a six per cent increase for the price of a plex at $763,000 last month.

The median price for a single-family home rose 5.2 per cent to $590,000 and the median price for a condominium rose 4.4 per cent to $407,100.

QPAREB market analysis director Charles Brant says the strength of the Montreal resale market contrasts with declines in many other Canadian cities struggling with higher levels of household debt, lower savings and diminishing purchasing power.

Active listings for August jumped 18 per cent compared with a year earlier to 17,200, while new listings rose 1.7 per cent to 4,840.

This report by The Canadian Press was first published Sept. 6, 2024.

The Canadian Press. All rights reserved.

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