Retail strong in Strathcona County; opportunities for retail growth

April 17, 2018

Retail strong in Strathcona County; opportunities for retail growth

For those looking to get into retail in Strathcona County, a recent retail analysis shows electronics and appliances and apparel present good opportunity.

Strathcona County features 4.1 million square feet of retail operating space within seven key zones. Retail in the County is separated into four distinct formats: regional shopping centres, community oriented centres which encourage customers to gather not only for shopping but for other public uses, neighbourhood centres and other retail.

Hybrid or town centre retail formats are recommended for Strathcona County. These would include elements that contribute to quality of place such as festivals and events, farmers' markets, food courts, art galleries. These formats would encourage walkability and incorporate experience driven destinations and community oriented uses to draw customers in for different purposes.

The analysis finds Strathcona County is part of an interconnected market, with commuting in and out of Sherwood Park to other regional municipalities fuelling demand.

Total retail floor space required to support County residents in 2017 is calculated at 4.3 million square feet. This is forecasted to grow to 5.9 million square feet by 2037.

Strathcona County’s Economic Development and Tourism department conducted the retail analysis to support retail growth, which contributes to a healthy economy and increased prosperity and quality of place.  The tool provides developers and real estate agents with information to promote retailing in the community and to facilitate deal making.

More information

Set in the centre of Alberta’s energy and agricultural heartland, Strathcona County is a thriving, successful and vibrant community of over 98,000 residents. Strathcona County is made up of the urban area of Sherwood Park and a large adjacent rural area of farms, acreages and smaller hamlets. It is home to 75 per cent of refining in Western Canada. With a focus on economic, governance, social, cultural and environmental sustainability, Strathcona County is committed to balancing the unique needs of its diverse community.

 

- 30 -

Contact: Strathcona County Communications, 780-410-6595