Estimated reading time: 4 minutes
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Part one of our two part Niagara real estate appraisal series observing the recent influx of development in St. Davids examined the residential component of the real estate market. With new residential developments being completed, the need for growth in the commercial sector is more apparent than ever. The residential and commercial growth in St. Davids goes hand in hand. The current commercial sector is small, with the majority of amenities located in the nearby community of Virgil or in Niagara Falls. With a larger number of families and retirees moving into the area, developers have taken notice and have begun injecting the commercial core with some new life.
A small, but growing, core
The commercial “core” of the village runs along Four Mile Creek Road, intersecting with York Road. St. Davids currently has very few operational commercial options for residents. The amenities that do exist are located sporadically around this area and include the industrial Cannery Park, the Avondale, the Old Firehall restaurant, Ravine Vineyard winery and restaurant, and the Gales gas station.
Combining the historic element with modern finishes
Local developers purchased the industrial Cannery Park property, the last operational fruit canning facility east of the Rocky Mountains in North America, in September 2008. Located adjacent to the south of the new Cannery Park residential development, the former single tenant canning factory was converted for multi tenant use, now fully leased out to a mix of tenants including: food manufacturer, retail, office, veterinarian, and a transportation company. The building includes many original parts, dating back to the 1880’s, paying homage to the agricultural and industrial history of the neighbourhood. The building size is now about 130,000 square feet. This was a major redevelopment for the St. Davids area, with multiple millions spent on conversion and a building addition. The developers preserved some of the historical character and added modern finishes.
Developer confidence
South of the industrial Cannery Park property is a small sector of commercial properties. Current developments have been central to this neighbourhood. Directly on the corner, opposite the Old Firehall restaurant, development has begun on a dentist’s office; bringing some much needed necessities to the village. The two-story building will house St. Davids Dental and Angela Murray, dentist, who currently has a Welland office. The residential boost in the area has given commercial developers and owners the ability to properly invest in the area. The Avondale property, located on the corner across from the new dentist’s office, was purchased in April 2014 by Avondale, who had previously been leasing the location. As developers are looking at the neighbourhood, this purchase solidifies the confidence in the market.
As development begins in St. Davids, developers are looking at properties and making proposals. A local developer purchased three properties surrounding the Avondale site in August 2014, with a mix of residential and commercial use buildings, and frontages on both York and Four Mile Creek. The assembly now forms a good L-shaped redevelopment property and is located within the commercial core of the area. Ravine Vineyard is looking to continue with their development, moving into their planned phases, which will see more commercial options for the area, benefiting both the residential and commercial aspects of the St. Davids real estate market.
Residential and commercial development optimizing growth
By revitalizing the small commercial core of St. Davids, it will encourage residents, both old and new, to operate locally. It will also encourage people, who would normally bypass the village, to stop and explore the area. St. Davids appeals to multiple buyers and the commercial and residential developments are working simultaneously to promote the growth of the Niagara Region.
