Downtown Buzz News from the Downtown Winnipeg Business Improvement Zone


Getting ahead of the curve for smart business 9 Downtown trends in 2017 that will help you drive success


W


hile 2016 will go down in the books as being another banner year for record investments and people visiting our downtown, a fully sustained


downtown renewal is really just starting. It’s important to understand the trends that can drive further progress. Understanding current trends highlight the needs and


wishes of the average consumer. Downtown stakehold- ers, practitioners and entrepreneurs who have their ear to the ground can quickly capitalize on the materializing demands and market opportunities in 2017, to continue with, as well as quicken, change. • • •


1. Millennials and downtown Not only are millennials the largest generation since


the Baby Boom, but they’re also about to enter their prime purchasing years, and that includes obtaining their first rental property or home. Developers and investors recognize the growing desire


of millennials to live in areas where they work and where they don't have to drive everywhere. Walking, cycling and car-sharing are important to them. Downtowns across North America, with their history, uniqueness and non- auto-centric genesis, are best positioned to cater to this market and so, too, is downtown Winnipeg. A few things need to happen for this trend to be capital-


ized on: more affordable housing options are critical and tax increment financing programs, targeted to younger people who want to live downtown but can’t afford to, need to continue.


2. Te re-positioning of downtown retail With millennials fast becoming the largest segment of


the population with disposable income, downtown busi- ness owners need to start thinking like millennials and to re-think how they sell and provide services. So how do millennials think? A recent survey done by


Elite Daily released findings confirming that “millennials are highly educated, career-driven, politically progressive and – despite popular belief – do indeed develop strong brand loyalty when presented with quality products and actively engaged by brands”. Some of the things that busi- nesses need to pay attention to, according to the study, include: • They aren't influenced at all by advertising claims. • They review blogs before making a purchase. • They value authenticity as a higher importance than content.


• Their future inheritance won't change their buying behaviour.


• They want to engage with brands on social networks. • They are brand loyal. • They expect brands to give back to society.


3. Te Jets win the Stanley Cup? No, the Jets won’t win the Stanley Cup this year, but


the arrival of the Jets has led to the largest re-investment strategy that our downtown has seen in decades. Te MTS Centre itself has not only reversed the traffic flow of people on evenings and weekends, but it has led to dozens of new restaurants setting up downtown. True North has helped to re-introduce downtown density as an attractive and profit- able real estate development principle, and the emergence of SHED and True North Square will introduce new and exciting places for people to work, shop live and hang out. Te greater density will be the key to success and will


include retail storefronts along existing sidewalks. We need smaller spaces for entrepreneurship to flourish and create new experiences for guests.


4. Changing retail and shops When you think of the most recent and exciting growth of


new business, cafes, microbreweries, and restaurants in our downtown, most likely you will see a young entrepreneur who has no preconceived notions of what the downtown was 40 years ago. This entrepreneur sees the opportunity here today,


whereas the business owner who has been selling product for 30 years may be struggling. As turnover happens, the next new and emerging busi-


ness owners are no longer asking for more parking, but rather more bike stalls. Tey see business, and their cus- tomers, in a new light.


The arrival of the MTS Centre on Portage Avenue brought renewed focus on downtown growth.


5. Rapid transit and street cars will lead to a different and better city Te City of Winnipeg approved Stage 2 of Rapid Transit,


with a whopping investment of $590 million dollars. Te po- tential for development along the rapid transit corridor will create higher density, compact, mixed-use and pedestrian- oriented development, which will lead to a more vibrant and sustainable city. Tis reliable rapid transit will provide a viable and less


expensive alternative to commuters working and visiting downtown, connecting people via the Graham Transit Mall into the heart of Winnipeg’s downtown area. We currently lack a street car system to better connect


these recent downtown investments, to connect emerging downtown neighbourhoods, and to connect people to all the downtown amenities. A better transportation connec- tion system will stimulate more and higher investment and lead to an even more compact and connected downtown.


6. Retail pop-ups will prime the next wave of downtown retailers Pop-ups are trending across North America. Retail pop-


ups are temporary retail spaces that sell unique and often local products. From art to local fashion to tech gadgets, pop-up shops are trending because they create temporary stores that are creative and engaging. Tey can enliven an urban space for a short time — and disappear, or become permanent, if the market and the opportunity dictates. With pop-ups emerging downtown over the last several


years, there is a clear indication that there is a consumer appetite to support local entrepreneurs willing to test the market. Both PUSH Pop Up and Launch It! entrepreneurial programs, have seen recent success where property owners are creating a place for multiple e-retailers and emerging entrepreneurs to hit the streets with a downtown address. If you are a landlord who is willing to rent your vacant space for pop ups, give me a buzz.


7. Walkability will drive where employees want to work In the global competition for corporate headquarters and


competition for the local market share, the CEOs who want to attract the best talent and continue their growth mode are listening to the needs of their future workforce. Corpora- tions are looking for neighbourhoods that provide a vibrant place for workers. Tey are looking for a place comprised of multi-uses and multi-tenants. Connectivity is critical in attracting companies by focusing on the interests of their Generation X and millennial employees. Tis mash-up of life and urbanism is the future.


8. Live downtown Over $900 million has been invested in our community into 140 projects in Winnipeg in recent years. Te real story is


downtownwinnipegbiz.com (204) 958-4640


info@downtownwinnipegbiz.com 426 Portage Avenue, Winnipeg, MB R3C 0C9 February 2017 www.smartbizwpg.com Smart Biz 7


about the re-emergence of the downtown residential market. In an era of rising gas and car ownership costs people have


an appetite for better, faster, more comprehensive transit. While the car may never disappear, those multiple-vehicle lease payments are starting to make Winnipeggers realize that living in a downtown condo can provide a better quality of life with a lot of connectivity. With the population of over 16,000 residents and the re-


cent arrival of new residents in the latest downtown towers, downtown is becoming a neighbourhood again. Homes, in- cluding the Glasshouse Modern design, 21-storey residential glass tower directly across the street from the MTS Centre with its approximately 200 loft-style suites, and the 234-unit Heritage Landing, soaring above the tree-lined Assiniboine riverbank, will spur success. Residents eagerly anticipate the opening of D-Condos on the banks of the Assiniboine River, and the beginning of construction of SkyCity. Tis mixed use development will be the tallest building between Toronto and Calgary, home to over 400 luxury suites.


9. Indigenization of our downtown and city A recent article in the Globe and Mail, “Canada’s growing


Indigenous population reshaping cities across the country”, clearly demonstrates the changing nature of our city in the next decade with the increasing growth prominence of our indigenous community. Over the last few years there has been a concerted effort


by our City government, stakeholders and business groups like the BIZ to embrace the opportunities and forge new relationship with our Indigenous community, starting with reconciliation. Te announcement of the “Year of Reconcili- ation,” by the City of Winnipeg was our response to the Truth and Reconciliation Commission Report on the historical legacy of the residential schools system. Tis is the beginning of a process, or a call to action,


strengthened with informed community partnerships and Indigenous leadership. Together, we collectively aim to amplify, inform and celebrate the full potential of our In- digenous community. Celebrating Indigenous art, heritage, culture and more has the potential to instil a collective pride and understanding. Strategic investments in youth educa- tion, training, and entrepreneurship are the cornerstones to a city of prosperity, health and stability for our Indigenous community and for a more resilient Winnipeg. • • •


These trends will drive our downtown into 2017 and


beyond. Te BIZ has just launched our Strategic Plan with eight tactics to continue moving forward. With continued focus on these priorities and partnerships with businesses, developers, investors, planners, stakeholders, government and more, the City will continue to move forward. We must all pay attention to the trends and act accordingly to main- tain growth and opportunity!


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