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Attracting residents, workers a safe bet for downtown success

LAS VEGAS — It’s amazing the business concepts that are possible when there are lots of people around. Take I Love Sugar, for instance. Two floors of hyperglycemic-inducing confections, from PEZ candy and dispensers to 2.5-kilogram gummy bears.

There’s so much sugar here, your dopamine levels rise just walking in. They couldn’t contain it to one floor, so you can go upstairs and get your chocolate fix in or sidle up to the Sugar Martini Bar for an alcoholic means of raising your blood sugar.

Across the pedestrian corridor behind the LINQ is a selfie museum. You read that right, a museum devoted to an art form (if you can call it that) that can be as annoying as it can be satisfying (for the taker, anyway).

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For US$600 you can rent a Lamborghini Huracan. For a few hours, anyway.

But forget for a moment our roads would eat Italian for lunch, what struck me about Vegas is how it’s the antithesis of what’s not, currently, working in Winnipeg. With enough people, even the most niche businesses can thrive.

With a pandemic hangover of work-from-home keeping too much of downtown empty, here, even conventional, tried-and-true business concepts are struggling. People, lots of people, cure a lot of inner-city ills.

Excellent examples are Detroit, a city that at its low point would have more empty shell casings on the streets at times than people. There was a time when a leisurely stroll from GM’s Renaissance Center to the Detroit Auto Show was ill-advised, even in broad daylight.

Yet, riding on some key investments, including by Quicken Loans founder Dan Gilbert and some major relocations by global corporations, Detroit is as hot as it’s ever been. A lot of that has to do with residential development downtown, as even Detroit wouldn’t prosper based solely on nightly imports from the suburbs.

There are restaurants, nightclubs, hotels, Lions and Red Wings games, riverside parks and cafés, and even the odd speakeasy, which harkens back to Prohibition days with nondescript entrances and a veil of secrecy. It’s all pretty cool if you’ve never been.

Winnipeg could do the same, and it’s trying. Sure, there are suburbanites who have good reasons for living where they do, but give a downtown a healthy vibe and young professionals will dig it.

It will take a few key steps, however, one of which may be negotiating back to office-based employment. The suburban helicopter workers — who drop in for the day and scurry home at night — are good for lunch spots, less so for dinner or after-hours events.

Winnipeg Jets games are a good draw, but even they can leave downtown less than perfect, especially if people watch the game, eat at the arena and then go home. A good indication may be the extent to which a number of businesses on the Jets’ glide path — the walkways and tunnels — don’t even open for the crowds passing by.

All these are good steps but a downtown needs residents, a pool of prospects who are there 24/7.

I know some of you may think, “But who wants to live downtown?” and that’s fine. If the ‘burbs are your cup of tea, all the power to you. But as successful downtowns around the world prove every day, a good downtown is a sought-after location for living. For the right people, at least.

I’m not riffing off Free Press coverage for this newsletter topper: I’m here in the desert to attend the Vegas Shoot, the world’s largest — by far — archery tournament. This year, more than 4,500 archers are competing, so much that the tournament is moving next year. We don’t know where, but we expect to hear the announcement Sunday during the finals and the grand finale.

 

Kelly Taylor, Reporter

 

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Market data

The week to come

On Tuesday, Feb. 6, Bank of Canada Governor Tiff Macklem will address the Montreal Council on Foreign Relations on the effectiveness and the limitations of monetary policy.

On Wednesday, Feb. 7, the Manitoba Chambers of Commerce hosts an MBiz Breakfast with Dawn Desjardins, chief economist, Deloitte Canada, who will present an economic outlook for 2024, 7:30 a.m. to 9:30 a.m., Fairmont Hotel.

On Friday, Feb. 9, Mayor Scott Gillingham will give his State of the City Address to the Winnipeg Chamber of Commerce at the RBC Convention Centre.

Also, on Friday, Statistics Canada will provide job numbers for January.

 
 

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Biz news that caught my eye

Joshua Frey-Sam:

Hotel holdup hard on convention centre

Seven years after its unveiling, Sutton Place project still not finished, to event planners’ chagrin Read More

 

Gabrielle Piché:

‘Weight of Winnipeg’s downtown on their shoulders’

Hybrid work set-ups reign amid tug-of-war between employers, employees and advocates on both sides Read More

 

Martin Cash:

Richardson & Sons sees ‘lots of opportunities’ in Fairmont purchase

James Richardson & Sons Limited has reacquired the Fairmont Winnipeg, located next to the family-owned corporation’s head office tower. The multibillion-dollar diversified company had formerly ... Read More

 

Gabrielle Piché:

Entrepreneur talk promotes women in tech

Three women sat at the front of the room, ready to take questions. None had expected to be technology start-up founders in their early careers. Yet, there they sat Wednesday evening in Winnipeg, fielding questions about running a business and finding funding and keeping motivation. Read More

 

Gabrielle Piché:

Northern lights destination tour interest heats up Churchill

Expected ‘banner year’ for viewing helps push internet search surge Read More

 
 
 

Tips for success

Joel Schlesinger:

Themes for investor dreams

Thematic funds offer secure ways to invest in growing trends — but do your homework Read More

 

Tory McNally:

Get your butterflies flying in formation

The positive and negative effects of workplace stress Read More

 

Tim Kist:

Think like a marketer to develop great people for a winning team

Successful organizations know that employee development, just like product or player development, must be a structured approach. Read More

 

Laura Rance:

Bayer’s Roundup dilemma cautionary tale

Shareholders everywhere must cringe at the news stories about juries awarding billions to claimants attributing their cancer to the widely used herbicide glyphosate. Read More

 
 

Real estate

Mickey Djuric, The Canadian Press:

Federal government extends foreign buyer ban on Canadian homes to 2027

OTTAWA - Foreign nationals and companies will be banned from buying residential properties in Canada for an additional two years, the federal finance minister said Sunday, the latest in... Read More

 

The Canadian Press:

Vancouver home sales rise in January as demand outpaces newly listed properties

VANCOUVER - The Real Estate Board of Greater Vancouversays home sales got off to a strong start in the first month of 2024 but the pace of newly listed properties did not keep up with d... Read More

 

Ian Bickis, The Canadian Press:

Real estate receiverships on the rise as projects stall

TORONTO - From one of Canada’s tallest condo towers to bare tracts of land, residential development projects across the country are increasingly being pushed into receivership. ... Read More

 
 

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