Rogers Road Study Area : Economic Scan October 2016 Prepared for Prepared by Economic Development & Culture 1 Business Improvement Area Office
Over 75,000 Commercial residents by Value 2025 Assessment $69.7 million* Rogers Rd 2 *City of Toronto, 2016
What affects economic value? • Assets or pull factors • Bricks and mortar or experiential assets attract business, shoppers, visitors, tourists, residents • Liabilities or push factors • Bricks and mortar or experiential liabilities repel business, shoppers, visitors, tourists, residents
Specialty Social Shops & Clubs & Restaurants Pull Factors Religious Groups 4
Vacancies Streetscape Push Factors Overall Area feel 5
What’s here and what is needed? What is What shops Who shops missing? are here? here? 6
Who shops here? Who lives here? • What do they spend their money on? • Who works here? • How many people come through the • neighbourhood daily? 7
Who lives here? 7% Spanish (2.2%)* 20% 41% 6% Portuguese 35-54 years Italian Mother (2.7%)* old Tongue (43%)* (1.8%)* 2.7% Vietnamese (0.8%)* 54% Average 1-2 Household persons/ Income Household $71,599 (51.8%)* ($104,378)* 8 Source: Environics Analytics, 2015 *Toronto CMA
Who lives here? 59% Own 41% 20% Rent work in (69% Own 31% Rent)* Sales & Service (15.8%)* 35% 11% No work in certificate, Trades, diploma or Transportation degree & equip. (17.4%)* operators (6.4%)* 9 Source: Environics Analytics, 2015 *Toronto CMA
How do residents commute? Opportunities? 3% 42% 53% 2% 70%* 23%* 5%* 1%* Walk Score of 83/100! 10 Source: Environics Analytics, 2015; walkscore.com * Toronto CMA
What do residents spend money on? Shelter-21% (20%)* Transportation-15% (14%)* Food-11% (9%)* Household-8% (8%)* Recreation- 5% (5%)* Clothing- 5% (4%)* Health Care-3% (3%)* Other- 32% (34%)* 11 Source: Environics Analytics, 2015 *Toronto CMA
Who works here? Who commutes here? Over 65,000 Daytime people ride the Population TTC through 19,423 the area daily! 12 Source: Environics Analytics, 2015 Source: Toronto Transit Commision, 2013, City of Toronto *8hr period, Count date: April 22, 2015
What shops are here? How many stores and what do • they sell? How many are vacant? • What clusters exist? • Is there enough parking? • 13
Of 115 stores on Rogers Road: Vacant 18 Services 13 Personal services 16 Med/Dent/Pharm/optic 6 Household 4 General Merch 8 Food & Bev 22 Food 11 Fashion 6 Business services 5 Automotive 6 0 5 10 15 20 25 No. of Stores 14 Source: CSCA, 2015
Findings of the Economic Scan Potential shoppers vs current retail offering Potential shoppers Current retail offering • 75,000 residents within a • 100 stores with a strong focus 10 minute walk on: • Bars/restaurants: Portuguese • 19,000 daytime population, cuisine, bakeries, mostly at work churrasqueira • 65,000 transit riders daily • Personal services : barber • 3,000 pedestrians and shops, hair stylists, nail spas, 15,000 cars daily religious/spiritual advisors • General services : laundry, drycleaners, driving school • Food : meat, seafood 15 Source: Environics Analytics, 2015
Findings of the Economic Scan Retail types to Prioritize What’s missing? Personal services Specialty including butcheries and religious/spiritual fishmongers advisors Portuguese restaurants & bars including Artisanal bakeries churrasqueira and with Portugueses soccer pastries 16
Global Retail Trends Capture the Appeal to Multiple young diverse Generations workforce populations “Aging in Place” Be Authentic & technologically Unique Retail relevant 17 Source: P.U.M.A Global Trends Report, 2016
Opportunities? • Established residential sector with some growth to 2025 expected • Potential to attract younger demographic with families with children & pets • Encourage local shopping by residents on foot, bike & transit • Encourage local stores to cross-promote & collaborate as clusters; promote district as a whole • Eg: Portuguese delicacies map • Collaborate with property owners, brokers to spark appropriate tenant recruitment • Support leasing via district-wide strategy Questions? 18
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