Multi-use development will instill a vibrant village centre in Clinton and create a ‘focal point’ for the community. There are available sites located throughout the Village that are suitable for this type of project with prime locations in the municipality including the Highway 97 corridor.
THE OPPORTUNITY TREND
People’s attitudes about where they want to live, work, shop and play are changing. According to the National Association of Realtors (NAR) 60 percent of respondents favour a neighborhood with a mix of houses, stores and other businesses that are within walking distance. The accommodation of new retail, residential and/or professional offices is a major focus of the Village of Clinton’s economic development efforts, opportunities for new businesses as diversified as a bakery, jewelry store, artisan/crafter, brew pub, and pharmacy exist.
BECOME THE HEART OF THE COMMUNITY
Mixed-use development is a type of development that blends residential, commercial, cultural, institutional, or industrial uses, where those functions are physically and functionally integrated, and that provides pedestrian connections.
SEIZE THE NEW ATTITUDE
The mixed-building concept is becoming more popular. Demographic changes, stemming from the aging Baby Boomer and the emergence of Gen-Y, have shifted consumer preference away from enclosed shopping centres toward smaller-scale retail projects in downtown commercial and mixed-use environments.
Because of these shifting preferences and the rise of online shopping, commercial development is adjusting to a more market-friendly position, this trend works in favour of mixed-use smaller scale commercial developments (Sonoran Institution nd).
The concept that would best suit the Village would be a smaller mixed-use two-storey building with commercial space on the main floor and residential units on the second floor. Based on Southern Interior BC costs for a mix of residential and office building construction, development costs are anticipated to be between $195 and $240 per square foot for a medium quality building (Altus 2015).