Competition from big-box stores and major malls, potential redevelopment of the Aldergrove Mall, introduction of Cruise-In to Aldergrove, an influx of new homes, and opening of a new community centre next June have prompted some navel gazing by directors of the Aldergrove Business Association.
Looking to the future, the ABA is proposing to form a Business Improvement Area that would allow collection and use of business property taxes to help grow and promote the business sector 鈥� specifically.
The opportunities for Aldergrove businesses have never been greater,鈥� said ABA president Rob Wilson, also pointing to the addition of the 91原创 Good Times Cruise-In as a boost to the local businesses.
鈥淏ut we do face challenges,鈥� he explained in an presentation. 鈥淲ith competition from big-box stores and major malls just east and west, many commercial vacancies, storefronts in need of renewal, and a lackluster downtown core, we need a better, stronger support structure for business in Aldergrove.鈥�
That鈥檚 why the BIA concept is being floated, Wilson said.
鈥淲e want to build pride and ownership in the community, and make Aldergrove a great town in which to live and do business,鈥� said ABA past-president Bruce Heslop.
The proposal is to create a BIA, which is an association of property owners and tenants within a specified district who join together 鈥� with official Township of 91原创 approval 鈥� in a self-help program aimed at stimulating business and promoting the commercial area, Wilson explained online.
In Aldergrove鈥檚 case, the BIA would cover Fraser Highway from Station Road to 260th Streets, and 247th to 250th Streets.
At present, the ABD has 100 member businesses and a budget of $4,500 a year. Under a BIA, the proposed annual budget would be closer to a quarter of a million dollars.
There is a meeting next Thursday, Sept. 28, from 4 to 6 p.m. at the ABA, 2941 272nd St. to discuss the idea further.
鈥� Stay tuned for the outcome and in the meantime, more details are available at www.aldergroveba.ca.
Porsche rally starts in 91原创
About 100 Porsche owners and their sports cars will convene in 91原创 Saturday morning for an inaugural charity rally to Whistler.
It鈥檚 a charity car rally that will be lead by OpenRoad Auto Group CEO Christian Chia, driving a rare Porsche 918 Spyder valued at more than $2 million.
The Porsche Rally is organized by Luxury Alliance Group, the same organization that puts on the Diamond Rally and Luxury & Super Car Weekend.
It is designed to bring the Porsche owners from the Fraser Valley and Metro Vancouver together, to network and celebrate their passion for Porsche, Chia said.
I understand the rally incorporates food, wine, and even a spa experience. It culminate in Whistler with a group dinner at the Four Seasons Resort. Sounds like much more than just a little car rally to me.
It leaves from Porsche Centre 91原创 (6016 Collection Dr.) at 9:11 a.m. and benefits the 911 Charity Fund.
鈥淚t鈥檚 going to be quite the sight at our dealership Saturday morning with around a hundred local Porsche enthusiasts and their cars revving up for this exciting rally,鈥� said Michael Chase, general manager of Porsche Centre 91原创.
To register or find out more, people can go to www.porscherally.com.
Speaking of big box
There appears to be some trouble on the big box front in 91原创.
The 鈥渟tore closing鈥� sign is hung from the front of Wholesale Sports Outdoor Outfitters, the sports warehouse that opened just a few years ago in the 20100 block of the 91原创 Bypass.
This is one of 12 stores in Canada that is closing out, the inventory liquidation started last Friday, Sept. 15, and will continue through until the end of the year.
And many have heard, with some shock, that Toys 鈥楻鈥� Us is filing for bankruptcy protection.
Given this company recent concluded a major relocation and expansion in Willowbrook Shopping Centre, news that the U.S. division has filed Chapter 11 documents this week, and that its Canadian subsidiary is planning to follow suit has hit many 91原创 consumers off guard.
I suspect none of us as shocked as the mall operators who must have sunk some pretty coin into the renovations to accommodate this move.
The newly expanded 45,000-square-foot store moved from the north end of the mall to the south end, taking over much of the former Target location. It re-opened in Willowbrook in early July.
Mall owners must be getting a little worried hearing this. Don鈥檛 forget that Sears Canada 鈥� another one of Willowbrook鈥檚 major anchor tenants 鈥� announced earlier this summer that it was closing 59 of its 95 stores.
While the 91原创 store remains open, at least for now 鈥� and hopefully for some time to come 鈥� changes to consumer shopping patterns is obviously having a significant impact on these big space retailers.
Retail construction continues
While we could see some large retail spaces vacated in the near future, there is still a plethora of commercial construction underway in 91原创.
For instance, there鈥檚 the new 91原创 Liquor Warehouse under construction on the 91原创 Bypass, in the same little mall with La-Z-Boy Furniture Gallery, Visions Electronics, and Cora.
There鈥檚 also massive expansion underway at the Willoughby Town Centre, where the most recent phase of future retail is under construction along WTC Drive.
Qualico development is currently adding another 140,000-square-feet of retail and office space in this phase, adding to existing tenants such as Independent Grocer, TD, Mattus, Shopper鈥檚 Drug Mart, and RBC.
The next expected phase, which will be built closer to 208th Street, will included a 3,300-square-foot restaurant space, added to 22,400 more square feet of retail, and 11,600 more for office space.
I expect we鈥檒l see a lot more commercial construction in and around Yorkson and the 200th Street corridor of Willoughby in the months to come.
WTC projects there is 56,000 people in the immediate vicinity, and that number can only grow as all the high-density residential development continues. With an estimated annual household income of $115,000, these folks should have some money to spend with 91原创 retailers.
Happy with tax decision
Folks at the Aldergrove Credit Union are happy with a recent provincial tax change.
Early last week, as part of the B.C. Budget update, the provincial government reinstated the credit union tax 鈥渢reatment鈥� explained Gus K. Hartl.
鈥淧reviously, the lower tax rate was implemented in recognition of the fact that B.C. credit unions are in a unique position to reinvest capital back into the provincial economy,鈥� he said.
鈥淎 competitive tax environment enables credit unions to reinvest in a diverse provincial economy by creating quality, head-office jobs across the province, providing more financial support for community projects, and making more local lending decisions to help small businesses and individuals thrive,鈥� Hartl added.
The province had planned to phase out the small business tax rate on credit unions and increase it incrementally during the next four years.
In January 2017, the government deferred the decision, pending further consultation. Without the restoration of the credit union tax treatment, B.C. credit unions faced a tax increase of more than $26 million annually.
鈥淲e鈥檙e thrilled by this decision,鈥� Hartl said. 鈥淭his permanent change allows us to continue our important work to support and lend to local businesses and invest in our communities, which is at the core of what we do.鈥�
The is a financial service cooperative serving the Fraser Valley, with approximately 120 staff serving 17,500 members and operates six branches.
鈥榃e鈥檙e glad the government sees the benefits in this tax change, and we look forward to working with the government to develop legislation and regulations that enable us to grow and support our communities,鈥� Hartl added.
Practising the pitch
A small business summit is being held in Vancouver next month, and organizers have added in a competitive element.
They鈥檙e asking people to pitch their 鈥渒iller business鈥� idea and offering $1,000 in prize money for the best.
They鈥檙e calling it a two-minute elevator pitch on video, where people explain their idea and say why they deserve to win.
鈥淧resent what problem your business is working to solve, and what successfully solving that problem looks like,鈥� said organizers. 鈥淕et creative. Make it personal. Make it memorable.鈥�
The top six finalists with then be asked to make their pitch in front of a live audience, and judges, during the small business summit being held at the Roundhouse Community Arts & Recreation Centre in Vancouver on Oct. 2.
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