Rue Sainte-Catherine: the works accentuate the decline

SARAH DAOUST-BRAUN/24 HOURS/QMI AGENCY

Sarah Daoust-Braun

Wednesday, 21 February, 2018 00:00

UPDATE
Wednesday, 21 February, 2018 00:00

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Proven by the closure of 60 stores in five years, the rue Sainte-Catherine is living difficult moments that are not on the point of closing with the beginning of its redevelopment work, the first phase will last four years.

In the aftermath of the announcement of the closure of the fashion stores Garage and Dynamite, 14 premises were closed or rent between the streets of Jeanne-Mance and Metcalfe during the passage of 24 Hours, Tuesday, on the famous street.

A combination of factors explains the slow decline of the street. The lack of cohesion between the different shops, the lack of parking spaces outside, the online trade are just some of the reasons that are forcing merchants to close, according to a major real estate broker who preferred to remain anonymous. According to him, 60 closures in 5 years, that’s a lot.

“With the arrival of the works, the stars are simply not aligned”,-he said. According to him, merchants will see their revenues drop by 20 % to 30 % the time of the recapitalization.

The real estate broker David Malka, who works for the Sutton group, is less alarmist. “There are six months, there were a lot of shops vacant. Since two, three months, it will get better. It gets the attention of big players and companies of Toronto have shown interest”, he argued.

The latter is currently searching for a client to rent the premises left vacant by La Vie en Rose on Sainte-Catherine, at a cost of 41 280 $ per month.

Build on experience

It is impossible to put a finger on the precise origin of the bobo, are of the opinion of two experts in marketing from HEC Mnotréal consulted by the “24 Hours”.

“At this time, there is a failover to a type of trade where the experience is more to the fore, such as the Apple Store or Urban Outfitters. These are not necessarily places to buy, but consumers go there to test a product and live in the moment,” said assistant professor Matthew Philp.

The consumption habits of people have changed in recent years and the closure of retail businesses is a global trend, has clarified his colleague Ali Tezer. “The problem is that some traders have more trouble than others to adapt, and then they have to close their shops”, he explained.

Two plans to come

The administration of mayor Valerie Plant has not wanted to comment on the situation Tuesday, stating simply that a business plan to help retailers will be announced soon.

A revitalization plan for the street, which could among other things provide for the addition of new public squares and wider sidewalks, will also be presented soon by the head of the major projects to the executive committee, Luc Ferrandez.

The administration will abandon the installation of sidewalks heated on the artery, a project that had been originally planned by the former administration of Denis Coderre.

– With the collaboration of Francis Pilon, “24 Hours”

Stores, missing for 5 years

– Tommy Hilfiger

– The Castle

– BCBG

– Jacob

– The life in pink