Commercial hubs / Commercial development
WHAT IS COMMERCIAL DEVELOPMENT?
Commercial development is part of a broader theme of territorial development. It encompasses a set of actions and initiatives aimed at animating the city and promoting the commercial flourishing of a sector. Commercial development serves to meet the consumption needs of residents and contribute to the urban vitality of the area.
WHY ENGAGE IN COMMERCIAL DEVELOPMENT?
This approach involves all organizations interested in territorial development, including municipalities, Commercial Development Corporations (CDCs), Regional County Municipalities (RCMs) and more. Indeed, commercial development brings together a set of tools to adapt to a wide range of issues.
Commercial development may be relevant, for example, in the context of revitalizing the commercial offering for a struggling neighborhood where many commercial spaces are left vacant. With our team’s expertise, we can develop a strategy to attract businesses to revive these neighborhoods and give them a new lease on life. Commercial development can also be used to improve the offering of a neighborhood with already strong commercial vitality. In all cases, we can support local stakeholders in finding a relevant positioning and creating value.
Beyond the public sphere, private organizations can also benefit from interventions in commercial development, including in their management of businesses and in the development of large projects such as shopping centers.
HOW CAN ESPACE STRATÉGIES ASSIST YOU?
In the face of competition, some commercial arteries want to stand out and find an attractive commercial positioning to increase foot traffic. With its recognized experience in strategy, Espace Stratégies can identify the unique and differentiating elements of each organization to help align its offerings with the needs of its customers and identify innovative projects to achieve its objectives.
Espace Stratégies has extensive experience in developing commercial arteries and offers relevant interventions tailored to the needs of each client. Our team uses commercial development tools to support these interventions, which may include: a diagnosis of the commercial situation of the artery; an analysis of the supply and demand of the artery; the development of a strategy to attract business establishments; identifying the commercial positioning of the artery and much more.
Espace Stratégies is an independent firm able to bring an external perspective and new ideas to the challenges of your organization. Our role as an external stakeholder allows us to bring new ideas and challenge certain status quos that may be problematic. We work with public and municipal organizations as well as businesses, non-profits, investors, developers and the government. This understanding of different actors and their needs allows us to easily make relevant connections.
To address different growth themes, Espace Stratégies offers several advisory services. In the case of commercial development, the most relevant ones are:
Mont-Royal Avenue Commercial Development Corporation
The Mont-Royal Avenue Commercial Development Corporation (CDC) asked Espace Stratégies for support in creating a commercial positioning plan. The goal was to help the artery’s merchants better understand their current and potential customers and allow the CDC to establish a unique brand image to stand out from other commercial poles.
Wellington Commercial Development Corporation
The Wellington Commercial Development Corporation (CDC) has been contributing to the dynamism and influence of Verdun for 30 years. Following major investments by the City of Montreal in the development of the banks of the Saint Lawrence River and downtown Verdun, the CDC chose Espace Stratégies to support it in developing new commercial strategies. The new action plan aims to increase the visibility and foot traffic of the commercial street and attract new business establishments to Wellington Street.
Avenue Laurier Ouest Commercial Development Corporation
In 2018, the creation of the Avenue Laurier Ouest Commercial Development Corporation (CDC) raised many questions about the future of the commercial artery. The CDC sought the services of Espace Stratégies to support it in developing an economic development and commercial positioning plan, as well as formulating action plans for its communication plan. The ES team worked collaboratively with avenue merchants on several crucial issues, such as validating the influence zone, developing the sociodemographic profile of the clientele and analyzing the commercial offering.