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Thread: Blame the Banks for All Those Boring Chain Stores Ruining Your City

  1. #1
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    Default Blame the Banks for All Those Boring Chain Stores Ruining Your City

    Blame the Banks for All Those Boring Chain Stores Ruining Your City
    Commercial landlords are holding out for retailers that can boost property values and credit ratings.

    http://www.bloomberg.com/news/articl...ning-your-city

    An issue we've seen with Whyte Ave, with Robson St in Vancouver, and likely with ICE District
    “You have to dream big. If we want to be a little city, we dream small. If we want to be a big city, we dream big, and this is a big idea.” - Mayor Stephen Mandel, 02/22/2012

  2. #2

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    I wonder if cities could alter property taxes so that taxes go higher as square footage increases for retailers, and/or implement some type of duplication or diversity tax where an entity pays more if they spam hordes of the same thing everywhere.
    "Men never do evil so completely and cheerfully as when they do it from religious conviction" - Blaise Pascal

  3. #3

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    Quote Originally Posted by Chmilz View Post
    I wonder if cities could alter property taxes so that taxes go higher as square footage increases for retailers, and/or implement some type of duplication or diversity tax where an entity pays more if they spam hordes of the same thing everywhere.
    aka social engineering. Often, I'd say its a natural consequence of how market economics work. Boring as they are, people tend to be risk adverse and pretty conventional when spending their own money and chains have a lot to offer in that sense over the sole proprietorship businesses.

  4. #4

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    Capitalism (corporatism) at it's finest.

  5. #5

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    Quote Originally Posted by B.ike View Post
    Capitalism (corporatism) at it's finest.
    Perhaps it has not been quite as noticeable in Edmonton as elsewhere, somewhat on Whyte Ave but many chains here seem more drawn to the malls and the big box power centres than to street front locations. I understand landlords may perceive chains to "safer" bets, but I have one word to contradict that - TARGET. When they do fail, they can fail spectacularly and leave landlords really holding the bag. Of course it is not just Target, a lots of other retail chains are closing stores such as HMV recently. Retail and fashion can be fickle - the wonder chain this year can be in the dumps in a few years later.

  6. #6

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    It won't last for long. It's all online now, fly it right to our doors

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