Downtown St. John’s has partnered with Altus Group to conduct a study of commercial Real Estate located within the Downtown St. John’s Business Improvement Area (BIA). The goal of the study is to compile statistical data regarding the “health” of the Downtown area within the BIA boundary. Altus Group, with the assistance of Downtown St. John’s, will compile statistical data on a semiannual basis. The objective of the ongoing partnership is to assist Downtown St. John’s and its membership in gaining a clear picture of the health of Downtown commercial real estate in terms of rents, operating costs, vacancies, etc. The data will assist Downtown St. John’s in determining issues that may need to be addressed through their internal initiatives or through partnerships with commercial property owners, tenants and the City.
The scope of the research will include:
- Properties located along Water Street, Duckworth Street, George Street, New Gower Street and adjacent streets and coves where applicable;
- Rental survey. Rental rates, operating costs and vacancy information will be collected. All information collected as part of the rental survey would be kept confidential; specific building details will not be released; however Altus Group and Downtown St. John’s will use and/or publish the information collected providing rental, operating costs, and asking rental ranges for the BIA area.
- Retail and office sale summary from sales occurring since the last survey period
- Physical appearance of facades in terms of conditions (on a scale to be determined)
- New development, upgrades and demolitions
- Planning/zoning changes that affect development and occupancy
The survey will be conducted over the next couple of months by Altus Group staff in partnership with Downtown St. John’s. Information will be collected by email survey, telephone interviews and on-site visits through appointment.
Downtown St. John’s strongly encourages your participation in this important study. Statistical information developed from the survey (non-confidential) will be available to members of Downtown St. John’s upon request.
Download the survey here:
Downtown St. Johns 2
Once complete please return to email@example.com or firstname.lastname@example.org