I’m writing this post from the Lakeview Lounge at the Fairmont Chateau Lake Louise. The view of the (frozen) lake and mountains is absolutely stunning (see above). I can totally see why people move to the Rockies and never leave. Frankly, I’m not sure how I’m going to ever go home ;)
This Chateau was first built up in the late 19th century by the Canadian Pacific Railway. Developed as a way to encourage ridership and fund railway expansion, its position on the eastern edge of Lake Louise was probably a fairly obvious choice (although only when accompanied by rail). It’s designed to take full advantage of the views of the lake and the mountains.
Chateau Lake Louise ~ by Carmen Brown on 500px
But it’s not always this easy to predict or select where development should happen and will happen next.
Yesterday I was quoted in a Torontoist article talking about the rise of Dovercourt Village in Toronto – which is a topic I covered here on ATC about a month ago.
The interesting thing about Dovercourt Village – and specifically Geary Avenue – is that they seem like unlikely places for new investment. Many of the buildings aren’t particularly beautiful. And there’s a rail line and a set of power lines running through the middle of it.
But if the buzz around Dovercourt Village proves to be true, then it could very well end up as a new yuppy enclave in the city. I’m not going to debate the merits of gentrification today, but I think it’s interesting how change can seemingly emerge out of nowhere.
If you rewind 10 years to before Ossington Avenue became the hotspot that it is today, many of you would have probably classified it as an unlikely place for gentrification. Located beside the Centre for Addiction and Mental Health (CAMH), the area wasn’t considered desirable at the time. (CAMH has since undergone a lot of change.)
But oftentimes change can come out of nowhere. It just takes few enterprising pioneers who see something that nobody else does.
I’m writing this post from the Lakeview Lounge at the Fairmont Chateau Lake Louise. The view of the (frozen) lake and mountains is absolutely stunning (see above). I can totally see why people move to the Rockies and never leave. Frankly, I’m not sure how I’m going to ever go home ;)
This Chateau was first built up in the late 19th century by the Canadian Pacific Railway. Developed as a way to encourage ridership and fund railway expansion, its position on the eastern edge of Lake Louise was probably a fairly obvious choice (although only when accompanied by rail). It’s designed to take full advantage of the views of the lake and the mountains.
Chateau Lake Louise ~ by Carmen Brown on 500px
But it’s not always this easy to predict or select where development should happen and will happen next.
Yesterday I was quoted in a Torontoist article talking about the rise of Dovercourt Village in Toronto – which is a topic I covered here on ATC about a month ago.
The interesting thing about Dovercourt Village – and specifically Geary Avenue – is that they seem like unlikely places for new investment. Many of the buildings aren’t particularly beautiful. And there’s a rail line and a set of power lines running through the middle of it.
But if the buzz around Dovercourt Village proves to be true, then it could very well end up as a new yuppy enclave in the city. I’m not going to debate the merits of gentrification today, but I think it’s interesting how change can seemingly emerge out of nowhere.
If you rewind 10 years to before Ossington Avenue became the hotspot that it is today, many of you would have probably classified it as an unlikely place for gentrification. Located beside the Centre for Addiction and Mental Health (CAMH), the area wasn’t considered desirable at the time. (CAMH has since undergone a lot of change.)
But oftentimes change can come out of nowhere. It just takes few enterprising pioneers who see something that nobody else does.
I have good news and bad news.
The bad news is that I took a gnarly spill yesterday afternoon on the mountains. The nose of my snowboard got stuck in deep snow and I fell forward onto my shoulder and then compressed my back. I tore a shoulder ligament and possibly fractured two ribs. So snowboarding season is over for me this year.
The good news is that I now have more time to relax and enjoy the town of Banff, and then Revelstoke this weekend.
Banff is a beautiful town. It’s compact, walkable, and surrounded by snow capped mountains. How could you not love it?
One of the more subtle things that stands out for me though is the ubiquity of second level retail and restaurants. There’s a lot people in the (North American) real estate industry that will tell you that second floor retail just doesn’t work (you want ground floor). And indeed, it can be hard to pull off. As I’ve said before, getting retail right in general can be difficult.
But in Banff, many of the bars and restaurants are up top. Here are a few examples (there’s an Earls, Boston Pizza, and a Korean restaurant, respectively):
So why does it work here?
Given the town’s small footprint and location within Banff National Park, the market is supply constrained. That’s why Parks Canada imposes a number of restrictions on residency. They’re trying to ensure that the people who actually work in the community can find housing and it all doesn’t become second homes.
So my gut tells me that in order to get enough retail/commercial space to serve the area and its tourists, they had no choice but to go up. They simply ran out of ground floor space. Because if the town was able to instead sprawl outward, I suspect that’s exactly what it would have done. And then more ground floor space would have been created.
To be fair, most of the second floor examples I came across were bars and restaurants, which is arguably easier to pull off than straight retail. But it’s still something.
If any of you are familiar with real estate and planning in Banff or just have a better hypothesis, I’d love to hear from you in the comment section below.
Having just spent the weekend in Calgary and Banff, I’ve been thinking a lot about importance of picking the right city in which to live. I’m not saying that I don’t love Toronto. Because I do. But I am incredibly envious of cities – like Calgary, Vancouver, and Denver – that have such easy access to incredible mountains.
The photo at the top of this post was taken on the drive from Calgary to Banff.
Now, this might not matter to a lot of people, but it does to me. It’s a personal thing. There’s something really nice about landing in a city and seeing people leaving the airport with skis and snowboards in hand. And there’s something really nice about a city where so many people are active, outdoorsy, and fit.
This, of course, is the topic of Richard Florida’s book, Who’s Your City?: How the Creative Economy Is Making Where You Live the Most Important Decision of Your Life. But it’s still something that I’m not sure many of us give a lot of thought to. Are you living in the right city for you?
I’ve lived in cities that weren’t right for me and I know that it can have a profound affect on your happiness.
I have good news and bad news.
The bad news is that I took a gnarly spill yesterday afternoon on the mountains. The nose of my snowboard got stuck in deep snow and I fell forward onto my shoulder and then compressed my back. I tore a shoulder ligament and possibly fractured two ribs. So snowboarding season is over for me this year.
The good news is that I now have more time to relax and enjoy the town of Banff, and then Revelstoke this weekend.
Banff is a beautiful town. It’s compact, walkable, and surrounded by snow capped mountains. How could you not love it?
One of the more subtle things that stands out for me though is the ubiquity of second level retail and restaurants. There’s a lot people in the (North American) real estate industry that will tell you that second floor retail just doesn’t work (you want ground floor). And indeed, it can be hard to pull off. As I’ve said before, getting retail right in general can be difficult.
But in Banff, many of the bars and restaurants are up top. Here are a few examples (there’s an Earls, Boston Pizza, and a Korean restaurant, respectively):
So why does it work here?
Given the town’s small footprint and location within Banff National Park, the market is supply constrained. That’s why Parks Canada imposes a number of restrictions on residency. They’re trying to ensure that the people who actually work in the community can find housing and it all doesn’t become second homes.
So my gut tells me that in order to get enough retail/commercial space to serve the area and its tourists, they had no choice but to go up. They simply ran out of ground floor space. Because if the town was able to instead sprawl outward, I suspect that’s exactly what it would have done. And then more ground floor space would have been created.
To be fair, most of the second floor examples I came across were bars and restaurants, which is arguably easier to pull off than straight retail. But it’s still something.
If any of you are familiar with real estate and planning in Banff or just have a better hypothesis, I’d love to hear from you in the comment section below.
Having just spent the weekend in Calgary and Banff, I’ve been thinking a lot about importance of picking the right city in which to live. I’m not saying that I don’t love Toronto. Because I do. But I am incredibly envious of cities – like Calgary, Vancouver, and Denver – that have such easy access to incredible mountains.
The photo at the top of this post was taken on the drive from Calgary to Banff.
Now, this might not matter to a lot of people, but it does to me. It’s a personal thing. There’s something really nice about landing in a city and seeing people leaving the airport with skis and snowboards in hand. And there’s something really nice about a city where so many people are active, outdoorsy, and fit.
This, of course, is the topic of Richard Florida’s book, Who’s Your City?: How the Creative Economy Is Making Where You Live the Most Important Decision of Your Life. But it’s still something that I’m not sure many of us give a lot of thought to. Are you living in the right city for you?
I’ve lived in cities that weren’t right for me and I know that it can have a profound affect on your happiness.
Share Dialog
Share Dialog
Share Dialog
Share Dialog
Share Dialog
Share Dialog
