Commercial hubs / Commercial development
WHAT IS COMMERCIAL DEVELOPMENT?
Commercial development is part of the broader theme of territorial development. It encompasses a set of actions and initiatives intended to enliven the city and promote a sector’s commercial flourishing. Commercial development serves to meet the consumption needs of residents and contribute to an area’s urban vitality.
WHY ENGAGE IN COMMERCIAL DEVELOPMENT?
Commercial development involves all organisations interested in territorial development, including municipalities, Commercial Development Corporations (CDCs), Regional County Municipalities (RCMs) and more. It brings together a set of tools that can be adapted to a wide range of issues.
Commercial development may be relevant, for example, when revitalising the commercial offering of a struggling neighbourhood with many vacant commercial spaces. Our team uses its expertise to develop a strategy to attract businesses to revive these neighbourhoods and give them a new lease on life. Commercial development can also be used to improve the offering of a neighbourhood with already strong commercial vitality. In all situations, we help local stakeholders find relevant positioning and create value.
Beyond the public sphere, private organisations can also benefit from intervening in commercial development, such as by managing businesses and developing large projects like shopping centres.
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. Espace Stratégies uses its recognised strategy experience to identify each organisation’s unique and differentiating features to help align its offerings with its customers’ needs and identify innovative projects in support of 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 artery’s commercial situation, an analysis of the artery’s supply and demand, developing a strategy to attract business establishments, identifying the artery’s commercial positioning and much more.
Espace Stratégies is an independent firm that provides an outside perspective on and new ideas for your organisation’s challenges. As an external stakeholder, we advance new ideas and challenge certain problematic status quos. We work with public and municipal organisations as well as businesses, non-profits, investors, developers and the government. We use our understanding of different actors and their needs to easily make relevant connections.
SERVICES OFFERED
Espace Stratégies offers a range of advisory services to address different growth themes. The services most relevant to commercial development are:
For whom?
PORTFOLIO
Avenue du Mont-Royal CDC
The Avenue du Mont-Royal Commercial Development Corporation (CDC) enlisted Espace Stratégies to help it draft a commercial positioning plan. The goal was to help the artery’s merchants better understand their current and potential customers and for the CDC to establish a unique brand image to stand out from other commercial hubs.
Wellington CDC
The Wellington Commercial Development Corporation (CDC) has contributed 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 help it develop new commercial strategies. The new action plan is intended to increase the commercial street’s visibility and foot traffic and attract new business establishments to Wellington Street.
Avenue Laurier Ouest CDC
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 mandated Espace Stratégies to help it develop an economic development and commercial positioning plan, as well as to formulate 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 client sociodemographic profile and analysing the commercial offering.
