Chew's News

Statistics Canada has released the 2016 census data, confirming the growing ageing Ontarian population. There are more seniors in Canada at the moment than there are children. According to the census data, there are 5.9 million seniors living in Canada, as opposed to 5.8 million children under 14 years old.

Niagara’s popularity as a tourism destination has grown significantly over the past three years. Tourism operators, across the board, noted a 20% increase in 2016 along with an estimated $2.2B in tourist expenditures. Now that the summer of 2017 is over, tourism operators are reporting another 10% increase, putting them on track to hit a current expenditure goal of $2.4B.

A significant amount of catastrophizing occurred in the retail world when online stores first rose to popularity. Predictions were that online retailers would signal the end of traditional retail storefronts, negatively impacting commercial real estate. However, while the recent sale of 100 RioCan properties may paint some truth into this picture, many retailers continue to find value in their brick and mortar locations.

Today I’ll be looking at three new Niagara condo developments that have gathered attention recently. These developments are in varying phases of completion, from near complete to beginning construction.

More and more businesses are investing in Niagara due to the American border proximity, the Welland Canal and access to the GTA consumer market. The residential real estate market has also proven that Niagara is becoming increasingly popular as place of primary residency; bringing more potential employees, consumers and investors.

Finding the right size for your office space in Niagara is critical. Having too much space could leave you spending more than you need to. Having too little space could hinder your business. It is helpful to calculate not just how much space you need immediately, but how much you might need in the near future. Working with a commercial real estate broker can help you determine your needs.

Niagara Falls was recently recognized for its business-friendly atmosphere, featured in FDi’s 2017/2018 American Cities of the Future report. FDi, a division of Financial Times Limited, ranks cities in five categories in their report: economic potential, business friendliness, human capital and lifestyle, cost-effectiveness, and connectivity. 421 cities were in the report.

The downtown revitalization of St. Catharines’ commercial sector has progressed in an eastward direction, for the most part, from the intersection of St. Paul Street revitalization efforts and Ontario Street. Alongside major projects like the Meridian Centre and FirstOntario Performance Arts Centre, new businesses have grown and existing businesses have expanded.

It’s has, so far, been a summer of positive development announcements for Port Dalhousie. First, the Port Dalhousie Harbour Club Ltd. announced plans for a loft condo project with new commercial development ground floor units and a few weeks ago, Union Waterfront announced that it had submitted an updated planning application to the city.

Rising property taxes are taking a toll on small business owners. The non-residential tax system has been criticized in the past for being unpredictable and unfair, however, it remains a key revenue source for most municipalities.