Biz-E Newsletter

[caption id="attachment_9870" align="alignright" width="210" caption="Mission's Waterfront"][/caption] Imagine waking to the cry of the gulls wheeling over the river.  Dressing quickly in your spacious condo, you walk to your favourite coffee shop for breakfast.  Your village neighbourhood, tasteful and welcoming, is a walker’s haven, and you say good morning to friends heading to the nearby West Coast Express train station for the easy commute into Vancouver.  Your surroundings embrace the river, so you choose the waterfront pathway to your office a few blocks west, passing in front of the local boutique hotel and market, and enjoying the public spaces and views of the mountains, with Mission’s busy small boat harbour and Spirit Square beyond.  And you think to yourself how smart you were to move here – to this cozy, efficient and fully sustainable community on Mission’s waterfront with a lifestyle second to none. Far fetched?  Not at all. These are all possible components that could form the future of Mission’s waterfront vision and, step by step, the community will eventually determine what vision comes true. “I have to compliment Mission’s Mayor and Council” says architect Patrick Cotter, lead consultant in the planning process.  “They are creating a database of waterfront assets and opportunities.  Because of this they have the facts, so they are in control of the process.” Three phases of the Mission Waterfront Market and Feasibility Study have been completed.  All three are positive documents that provide exciting opportunities for developers.  Phase 1, the Market Analysis, identified the number and types of residential units that are viable, along with the square footage of commercial development that could be absorbed.  Phases 2 and 3, completed in June 2011, provide a financial analysis with development cost and revenue assumptions, financial modelling and viability.  Also included are a defragmentation land strategy, a plan for a destination waterfront and a strategy for raising future development above current flood plain levels. Of particular interest to the development community are the internal rate of return estimates and years to payback.  The project is viable by both indicators.  “This way developers know they’re not buying a pig in a poke” observes Patrick Cotter.  “The process is both transparent and rational.” For access to the studies mentioned and current updates: Waterfront Studies...Read More

[caption id="attachment_9571" align="alignright" width="150" caption="MTF Price Matters Mission "][/caption] “I love MTF Price Matters,” writes the Toronto blogger known as Listen to Lena.  “All of their merchandise is 100% authentic.  “They offer awesome deals, plain and simple.” She must be talking about a huge Eastern or US based chain, right?  Not so!  MTF Price Matters is a home grown British Columbia company based in Langley.  It currently operates 13 retail stores from Kamloops to Delta, along with a booming online business, and the 14th store has just opened in Mission’s downtown. “Mission has always been on our radar,” says MTF founder and CEO Mark Funk, talking about his newest location opening soon in the old Pharmasave location on the corner of First and James.  “It’s far enough removed from our stores in Abbotsford and Maple Ridge, and there’s an exciting younger demographic here that we want to serve.” There is little doubt that Mark’s decision will benefit more than Mission shoppers.  His new store will be an enormous boost to the downtown core.  Founded in 1985, MTF Price Matters operates with a simple and very effective philosophy.  They take top name brands, combine them with the best in discount online shopping, and offer them at prices below wholesale.  Brand names like Coach, Burberry, Canon, Movado, Garmin, Bose, Panasonic – the list goes on and on. More than that, MTF Price Matters enjoys a stellar reputation for customer service.  E-Bay gives them a 98.6% positive feedback rating and five stars for excellence in categories such as: is item as described, communication, shipping times and handling charges.  The mix of on line shopping and physical store locations allows the company to take advantage of purchasing one diamond ring or Gucci watch along with large lots of other merchandise.  “It’s amazing how much of our business comes from people browsing in our stores” notes Mark.  “Having a physical presence is very important.” But why downtown?  Why not locate in a shopping mall?  Mark acknowledges that the move to First Avenue, with its one way street and limited parking above the store is a bit of a risk.  “Our rental contract with the landlord was a prime motivator,” he says, “but I also did my homework.  I was pleasantly surprised to see the sales volume done by downtown merchants.  That is very encouraging for us.” Regardless of the details, Mark is fully committed.  “We’re here for Mission,” he says.  “We want to be part of this community.”...Read More

[caption id="attachment_9565" align="alignright" width="150" caption="Ground-breaking for $30 million SmartCentres project, which includes anchor tenant Walmart."][/caption] With a $30 million investment in Mission by SmartCentres to create 117,000 square feet of new retail space, including a 95,000-square-foot Walmart store, excitement in the community is building.  “If you count the heads from Mission and Maple Ridge shopping in Abbotsford, then you know this project is going to recapture many of those estimated $103 million in lost shopping dollars,’’ said Abbotsford-Mission MLA Randy Hawes at the project’s official ground-breaking.  The centre will include four other smaller retail buildings on the site, east of Mission Springs Pub at the intersection of Lougheed Highway and Wren Street.  “It’s healthy for our community and it will help it grow and build our tax base.  This is going to make a lot of local businesses healthier since customers won’t be going outside the community,” Hawes said, thanking SmartCentres and Walmart for having the faith and confidence to build in Mission.   “I believe this is going to be a very successful centre,” he said. “People like shopping at Walmart.” Mission Mayor James Atebe shared Hawes’ excitement, adding that the project will create as many as 200 construction jobs and some 260 retail positions. “SmartCentres and district staff worked closely together to develop a quality commercial plan we’re very happy with,” said Atebe. Andrew Sinclair, SmartCentres land development manager, said it has taken about two and a half years to reach this point in the project and praised the consultants team, District of Mission staff, and the various provincial government ministries that were dedicated to working through any challenges that arose for the 10-acre site. “We felt welcomed here and we all worked together toward the end goals,” said Sinclair.  “We had good dialogue and we listened to concerns in the community.  I think we ended up with a better project because of it.”  Sinclair pointed out the project will add $700,000 annually to District of Mission tax coffers and a one-time payment of $780,000 in development cost charges. Since 1994, SmartCentres has built 200 shopping centres across Canada.  Since that time the company has averaged more than three million square feet of development annually. The company also donates $1.5 million each year to Canadian communities, charities, hospitals and children’s causes. SmartCentres has become the largest developer of unenclosed shopping centres in the country and boasts a client portfolio that includes more than 25 of the world’s top 200 retailers, including Home Depot, Winners and Best Buy. As part of the Mission project, expected to be complete by the fall of 2012, the company has committed to funding improvements to the nearby Lougheed Highway, and the intersection where it meets the Cedar Valley Connector. Landscaping on the site will feature native species and oil grit separators will be incorporated in the parking areas.  There will also be on-site water detention systems. Sylvain Rivet, Walmart Canada Corp’s regional director of real estate, said his company takes pride in helping “our customers afford products they need and save money for life’s other priorities.  We look forward to being part of the community.”...Read More