Colliers VP retail consulting James Smerdon shared with us his views on the GVA market.
He thinks the upcoming Nordstrom at Granville and Georgia will be a game-changer downtown (opening 2015). "No other block, I would argue, has the potential to effect Vancouver's downtown street scene so profoundly." Make a note of it. (He stopped short of giving us Stanley Cup predictions.)
Nordstrom will pull part of that luxury focus back to the east and Granville, and away from Robson and Alberni (which has been establishing itself as a very strong location for luxury brands). "I think the biggest change will be reinvigoration of a block of Granville that was basically neglected," he says. Jim also tells us he's looking forward to seeing how businesses like restaurants, cafes, hotels, and parking see a "big change" in usage patterns once Nordstrom opens.
Source: Real Estate BisNow