FOOD SERVICE

Union Station Retail Feasibility, Toronto

Client Profile:

The City of Toronto had studied the redevelopment of Union Station for several years. At the end of each study the City reached an impasse on how to successfully improve the stations operational efficiency and increase usage. We were part of a team that assessed the retail viability within the station, how to expand the operations, what the ideal retail mix would be, and conduct revenue pro forma scenarios. The end result was a compelling argument to build down and create ample retail and pedestrian movement spaces that would be a centerpiece in the Downtown.

Scope of Work:

• Assessed the target market demand including:

• Doubling the passenger volume from 43 million to over 80 million

• 500,000 office workers within close commuting distance

• 17,000 hotel rooms

• 23,000 performing arts seats

• Over 300 events at Air Canada Centre and Rogers Centre

• Developed retail layout scenarios and block planning assessing both “dig-down” and “as-is” physical design changes

• Calculated pro forma rent scenarios

• Developed sound rationale for retail feasibility program

Services:

• Community revitalization

• Economic impact assessment

• Placemaking

• Real estate assessment

• Competitive audit

• Consumer insight

• Target profiling and segmentation

• Trend forecasting

• Tenant mix

• Due dilligence