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

The City of Fredericton has also worked hard to
develop its information technology infrastructure with
projects such as Fred-e-Zone and the Knowledge
Park. The Knowledge Park is located outside the
core, and is the only other location in Fredericton to
offer Class A office space. While the Knowledge Park
is evolving into a hub for information technology and
is proximate to the City’s universities, this type of
development has the potential to undermine the
downtown’s role as the centre of office and
employment.
Retail Development
Historically, retail space in Fredericton was located
downtown, but this has changed as large regional
malls have been built on the city’s edge. In response,
downtown retailers have attempted to distinguish
themselves by providing quality service and high-end
boutique retailing. The downtown also offers a unique
range of restaurants, bars, cultural and entertainment
attractions and a local farmers market. It was noted
that downtown Fredericton is appreciated for its ability
to provide a more intimate approach to retailing, and
has close ties to the local community.
Educational & Institutional
Development
As the capital, downtown Fredericton benefits from
many Provincial and Federal government buildings,
as well as the historic institutional centre – The
Garrison District. In terms of educational facilities, the
downtown directly benefits from the New Brunswick
College of Fine Craft and Design, which is located in
the heart of the core. Indirectly, the downtown also
benefits from having two major universities in close
proximity – University of New Brunswick and St
Thomas University. St. Thomas University is
developing a ‘universal bus pass’ that, along with
other benefits, would increase students’ access to
downtown. 5
“We have done a really good job at keeping a
mix of interesting and unique retail stores
[downtown] and we have not just tried to
replicate the mall.”
55
5
Fowler, S. (2011). UNB Looking into Universal Bus Pass. Retrieved from
http://www.theaq.net/2011/unb-looking-into-universal-bus-pass/-8091.
Accessed 2012 February 28.