fundamentally speaking
// by wayne karl
Watch the changing retail landscape
to see if your neighbourhood may be on the upswing
M
any of target corp.’s approximately 125 stores in Canada have now opened their doors, following the U.S. retail giant’s northern expansion following its $1.8-billion acquisition of up to 200 Zellers store leases in 2011. Most of the initial openings are to come from renovating previous Zellers locations, requiring an investment of $1 billion and creating thousands of new jobs. But, importantly, Target does not rule out “greenfield” expansion – building completely new stores from the ground up to its own specifications. Wayne Karl is an award-winning writer and editor with experience in real estate and business. In Fundamentally Speaking, Wayne explores the basics – such as economic fundamentals – you need to examine when buying property. He can be reached at wayne. karl@wall2wallmedia.com or follow him on Twitter at Twitter.com/WayneKarl
Large retailers and commercial ventures don’t just pop up in the middle of nowhere or in declining neighbourhoods. For homeowners and prospective homebuyers, this is all a very good reason to pay attention, as experts say it will change Canada’s retail landscape forever. Such major retail developments are also a significant influence on land development and housing. When the likes of Target, Walmart, RONA and other major players set up shop, particularly in a new location, it’s a good sign an area could be on the upswing. Like proximity to mass transit, schools and other amenities, being close to shopping is a major attraction for builders and, of course, prospective homebuyers. These features are among the key determining factors to enjoying your home while you live there, as well as for potential resale value in the future. Large retailers and commercial ventures don’t just pop up in the middle of nowhere or in declining neighbourhoods. They make careful, long-range and well planned-out decisions in lockstep with municipalities and developers, based on hard data, research and demographic information. This is why major retail expansion is good news: it’s an indicator the economy continues to strengthen; and, for those looking to buy a home or condo, it’s a sign to look out for new or expanding neighbourhoods and solid buying opportunities. Such retail developments, combined with the associated employment gains and economic and infrastructure improvements, point to new and expanding homebuying options. So, while you’re out there looking for your new home, look around for the big box stores. If they see a bright future for your prospective neighborhood, chances are it will make a sound buying decision for you.
056 new Condo Guide may 18 - jun 1, 2013