Comment 76844

By Capricorn (anonymous) | Posted May 12, 2012 at 11:53:01 in reply to Comment 76841

"...an urban format supermarket in the core would do wonders for... real estate values."

Ironically, our urban renewal guy will tell you that it's the real estate values (along with the downtown demographics) that have dissuaded supermarkets from setting up shop:

“The grocery stores are saying there aren’t enough people living downtown to make the investment and the developers are saying people are complaining because there’s no grocery store downtown. So it’s a matter of who’s going to go first. We’re trying to break that logjam and get someone to take that risk.”

He added that land prices downtown are more expensive than elsewhere in the city and that the grant can help bridge that gap and make a grocery store a viable venture.

http://www.thespec.com/news/business/article/662622--city-to-offer-650-000-grocery-store-prize

$650K is chump change, though. They'd do better to save the cost of the John/Rebecca park, expropriate the lands to the north, give the whole thing away to a winning entrant, then marry it with some condos that would supply the necessary density of moneyed inhabitants to support the supermarket and build the whole shebang at once.


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