Areas of the city that have vacancies over 15 per cent include Strathcona at 27 per cent, Hastings Crossing at 22 per cent, Point Grey Village, and Dunbar Village at 17 per cent, as well as Chinatown at 16 per cent.
The vacancies are not focused in one specific area of the city, but rather cut across various socio-economic neighbourhoods, although some more densely populated areas with lower rents are faring better.
These were followed by South Granville and Mount Pleasant at 14 per cent, Marpole at 13 per cent, Robson Street at 12 per cent, and Gastown and Kitsilano-Fourth Avenue at 11 per cent.Article content Across all these districts, an average of 11 per cent of commercial-retail units or storefronts were counted as empty, based on visual inspection, business license data and online research, according to a 2021 inventory conducted by the city. A range between four and 10 per cent, fluctuating due to renovations and turnover, is considered balanced.
Flourist Bakery co-founders Shira McDermott and Janna Bishop set up shop in the 800-block of East Hastings.Shira McDermott, a co-founder of Flourist Bakery, which sells milled flour and dry goods and has had a street-front location on Commercial Street since 2019, is one of them. “Nowhere in Vancouver is cheap, but it is cheaper ,” he said. “We’re talking $42 a square foot, so you really have to have the sales to survive.”Article content
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