Rogers Road Study Area : Economic Scan October 2016 Prepared for - - PowerPoint PPT Presentation

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Rogers Road Study Area : Economic Scan October 2016 Prepared for - - PowerPoint PPT Presentation

Apr 05, 2023 129 likes •323 views

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

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Prepared for

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Rogers Road Study Area: Economic Scan October 2016

Economic Development & Culture Business Improvement Area Office

Prepared by

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2 Rogers Rd

Commercial Value Assessment $69.7 million*

*City of Toronto, 2016

Over 75,000 residents by 2025

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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

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Specialty Shops & Restaurants Social Clubs & Religious Groups

Pull Factors

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Vacancies Streetscape Overall Area feel

Push Factors

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Who shops here? What shops are here?

What’s here and what is needed?

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What is missing?

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Who shops here?

  • Who lives here?
  • What do they spend their money on?
  • Who works here?
  • How many people come through the

neighbourhood daily?

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Source: Environics Analytics, 2015

7% Spanish (2.2%)* 6% Italian (2.7%)*

2.7% Vietnamese (0.8%)*

Who lives here?

41% 35-54 years

  • ld

(43%)* 54% 1-2 persons/ Household (51.8%)* 20% Portuguese Mother Tongue (1.8%)* Average Household Income $71,599 ($104,378)*

*Toronto CMA

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Source: Environics Analytics, 2015

59% Own 41% Rent

(69% Own 31% Rent)*

35% No certificate, diploma or degree

(17.4%)*

20% work in Sales & Service

(15.8%)*

11% work in Trades, Transportation & equip.

  • perators

(6.4%)*

*Toronto CMA

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Who lives here?

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53% 42% 3% 2%

Source: Environics Analytics, 2015; walkscore.com

Walk Score of 83/100!

70%* 23%* 5%* 1%*

* Toronto CMA

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How do residents commute?

Opportunities?

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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%)*

What do residents spend money on?

Source: Environics Analytics, 2015

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*Toronto CMA

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Who works here?

Source: Environics Analytics, 2015

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Over 65,000 people ride the TTC through the area daily! Daytime Population 19,423

Who commutes here?

Source: Toronto Transit Commision, 2013, City of Toronto *8hr period, Count date: April 22, 2015

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What shops are here?

  • How many stores and what do

they sell?

  • How many are vacant?
  • What clusters exist?
  • Is there enough parking?

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Of 115 stores on Rogers Road:

6 5 6 11 22 8 4 6 16 13 18 5 10 15 20 25 Automotive Business services Fashion Food Food & Bev General Merch Household Med/Dent/Pharm/optic Personal services Services Vacant

  • No. of Stores

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Source: CSCA, 2015

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Findings of the Economic Scan Potential shoppers vs current retail offering

Potential shoppers

  • 75,000 residents within a

10 minute walk

  • 19,000 daytime population,

mostly at work

  • 65,000 transit riders daily
  • 3,000 pedestrians and

15,000 cars daily Current retail offering

  • 100 stores with a strong focus
  • n:
  • Bars/restaurants: Portuguese

cuisine, bakeries, churrasqueira

  • Personal services: barber

shops, hair stylists, nail spas, religious/spiritual advisors

  • General services: laundry,

drycleaners, driving school

  • Food: meat, seafood

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Source: Environics Analytics, 2015

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Personal services including religious/spiritual advisors

Findings of the Economic Scan Retail types to Prioritize

Specialty butcheries and fishmongers Portuguese restaurants & bars including churrasqueira and soccer

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Artisanal bakeries with Portugueses pastries

What’s missing?

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Global Retail Trends

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Source: P.U.M.A Global Trends Report, 2016

Capture the young workforce Appeal to diverse populations Multiple Generations “Aging in Place” Authentic & Unique Retail Be technologically relevant

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  • 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

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Opportunities?

Questions?