Vacant Downton London buildings
London has the highest downtown vacancy rate in Canada at just over 31 per cent, according to a report from the Canadian Real Estate Services.
Downtown business owners and workers say there are multiple factors contributing to the vacancies.
“Everything’s gone up in price a lot and a lot of people can’t really afford to be able to start businesses like they used to be able to,” a downtown business owner says. “COVID definitely took a toll on the businesses and a lot of people are kind of working from home now too.”
Parking seems to be a big concern for downtown businesses as well.
“Just from what I’ve seen downtown, it just appears to be that they’re investing a lot in the general appearance of Dundas, but it’s hard to bring people in when parking is really complicated and an ever-changing situation that’s never really clear,” Addictive Tattoo employee, Vivian Gonzalez says. “Not just that, but there are a lot of people who have addiction and mental health issues. And the city is really not giving enough help for these people.”
Rent cost is also a contributing factor to the downtown vacancies, according to Gonzalez.
“The rents are so high and we’re not in the greatest economical time,” Gonzalez adds.
The City of London has been very vocal about steps they are taking to revitalize Downtown London, but downtown businesses say they are focusing on the wrong thing.
“The main thing they could probably do is to provide more free parking.” AAHC Barbershop and Salon worker says. “Stop charging for parking because it’s discouraging people from coming downtown.”
The downtown businesses think it would help if they were involved in the discussion regarding the revitalization of Downtown London.
“I think the city’s just allocating the resources to the wrong areas. We didn’t need the roads paved and fancy bricks,” Gonzalez says. “Let’s see if we can work with the owners of these buildings and bring people in. Get the present situation figured out.”
Something has to be done, Gonzalez adds.
“The people really paying the price are the businesses that are struggling to keep their heads above water,” Gonzalez continues. “There has to be a solution. It looks horrible for downtown London. It really does.”
