The Value of Investing in Canadian Downtowns - International ...

Retail Development
It has been observed that Edmonton is a city of malls. Built in the 1980s, the West Edmonton Mall is largest and most
famous and its construction dealt a serious blow to downtown retailing.
As of 2009, retailing downtown made up 5% of the city’s total retail space. This number has decreased slightly
between 2006 and 2009 as retail space in the downtown experienced no growth while retail space expanded
modestly in other parts of the city. These trends are illustrated in Figure “Edmonton Retail Inventory”.
For years, it was reported that the downtown tried to compete for retailing by becoming more suburban, but today
there is a growing awareness that the downtown will be best served to leverage its unique characteristics to become
a vibrant retailing destination. This is exemplified by the walkable, sidewalk-oriented 104 Street Promenade.
Square Feet (000,000)
35
30
25
20
15
10
5
0
Edmonton Office Inventory
100%
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
Total Office Inventory
Downtown Inventory as a % of Total
35
Edmonton Retail Inventory
100%
Historic warehouse surrounded by new
residential development
Square Feet (000,000)
30
25
20
15
10
5
80%
60%
40%
20%
0
0%
2006
2007
2008
2009
Total Retail Inventory
Downtown Inventory as a % of Total
150