Yonge St south of Bloor: Will it become more upscale?

[johnr]

Is the construction of 1 Bloor St going to revitalize the area of Yonge St. south of Bloor? They are asking $200-$250 per SF for rent, much higher than current rents for the area. This will make Yonge St just as expensive as Bloor St.

The retail portion of 1 Bloor is supposed to be complete in about 2 years and Apple is rumored to be the anchor tenant. Would it be wise to sign a 5 year lease for a store in this area at current market rents? (around $50 per SF).

 

[JasonParis]

Hard to say, but it's not like that portion of Yonge is really hurting for revitalization anyway.

 

[deerparker]

It's nice to see some of the storefronts being revitalised and new businesses moving in. I've noticed this north of Wellesley on the west side -- such as the Cat's Cradle storefront along with a few new stores around it. With the recently reported 'mallification' of Yonge Street, and with the chains anchoring the strip south at Dundas/Queen and north at Bloor, perhaps this section will remain relatively independent. If only more property owners would invest in their buildings...

 

[JasonParis]

I haven't read it yet, but you may also want to check this month's Toronto Life. There is a big article about the past, present and future of Yonge Street.

From their website...

The Longest Mall
The expropriation of scuzzy arcades and dollar stores to make way for Toronto’s version of Times Square was just the beginning. A wave of chain outlets and luxury condos is engulfing Yonge Street, from Queen to Bloor. Will the strip be saved or destroyed? By Don Gillmor

 

[rpgr]

I wouldn't mind a complete tear down and rebuilding so long as they make more underground PATH connections. All these tall buildings are going to make for one hell of a wind tunnel, especially in the winter!

 

[TO City of Light]

One Big Advantage Toronto Has Over NY City

In New York, the opening of franchise stores put an end to a vibrant independent retail sector. New York lost its"edge"; in retail terms, NYC is now like any other place in the USA - boring.

In Toronto, malls, designer boutiques and franchise operations will be a distinct improvement over what was there before.

For Toronto, "mallization" is a giant leap forward.

Let's hope for more Apple, Virgin, Armani, Versace, D&G, etc. stores. Yes, I know, you can buy all this stuff on the internet or in a few of the stores we have, but buying a Armani suit from the Bay is like buying an espresso from Dunkin Donut. You could probably do it but why bother.

It will make a world of difference to have "real" shops here.

Then we can complain about the lack of independent designer/brand shops but that will be a far future thread.



.

 

[Venti de Milo]

Great, another article comparing us to Time Square.

Why don't we call ours Time Square Wannabe But Never Gonna Happen Square already!

 

[lawsond]

Let's hope for more Apple, Virgin, Armani, Versace, D&G, etc. stores

let's hope for one of each first.
let alone more.
or is there a D&G on bloor st. i haven't noticed?

 

[JasonParis]

There's a D&G a block north in Yorkville though.

Virgin isn't coming to Canada. In fact, they left.

 

[Filip]

There's no Dolce e Gabbana in Toronto, they're sold through Holts.

The Dolce, and seperate Gabbana boutiques have nothing to do with D&G.

 

[junctionist]

Those chain luxury stores do nothing for middle class Torontonians who might not even stop in once per year. Just walking by pretty storefronts gets boring after awhile, and that's what Yorkville along Bloor is like. We can't do much though, in commercial retail you have accept what the market wants. One day you might walk by and not even the souvenir shop will be able to remind where you are. Because it will no longer be there.

Yonge needs restoration work in some places and some new buildings in others. Let's not get into the "demolish it all" mode.

 

[vancouverguy_76]

one word: yes

I would say there's no question that the area will become more upscale, and already has.

Watch this short video taken at the corner of Yonge and Charles Streets. This was a DAILY occurrence in the mid 80's LOL:

http://vids.myspace.com/index.cfm?fuseaction=vids.individual&VideoID=1806292

 

[dt_toronto_geek]

I would say there's no question that the area will become more upscale, and already has.

Watch this short video taken at the corner of Yonge and Charles Streets. This was a DAILY occurrence in the mid 80's LOL:

http://vids.myspace.com/index.cfm?fuseaction=vids.individual&VideoID=1806292

You really like that video don't you?!

Yonge Street will likely change somewhat from Bloor to Charles steet with 1BE, Casa, BSN, Blu and Uptown all going up within a block. I really hope that Yonge from Charles down to College streets is able to surivive. I have always loved the diversity of shopping, the grittiness and energy of Yonge Street downtown. So much of Yonge Street's character has been stripped away or fallen due to hard times in the 10-15 years.

A much needed renovation to the Charles Street Mall would certainly be welcome.

 

[JasonParis]

Yonge Street will likely change somewhat from Bloor to Charles steet with 1BE, Casa, BSN, Blu and Uptown all going up within a block.

This part of Yonge also falls under the Bloor-Yorkville B.I.A.

 

[lordmandeep]

i think he means down to dundas...