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Photo from the New Performing Arts Centre 
The downtown area of St. Catharines is a notorious aspect of Niagara real estate. Similar to other downtown cores in the region, what once was a thriving commercial and residential area had fallen into disrepair. The creation of two shopping centres and the addition of power centres throughout the city led to the decline of downtown as the core commercial centre of St. Catharines. There has been a large push by the City of St. Catharines and its residents to improve the area and three major developments are acting as a building block in the first phase of the downtown revitalization: the Meridian Centre, the New Performing Arts Centre, and the Marilyn I. Walker School of Fine and Performing Arts.
Creating developments to attract
Within the last few years, the commercial vacancy rate in downtown St. Catharines was the highest it had ever been. The area was in desperate need of resurgence and was prime for redevelopment. Downtown St. Catharines had a significant amount of misused space and the three major developments in the area have taken that space and turned it into a vital component of the make up of the downtown core.
The Meridian Centre
A new spectator facility in the downtown core recently opened, replacing the aging Jack Gatecliff Arena. After a ground breaking on December 20, 2012, the open bowl arena was completed in fall 2014, opening on October 16. The arena provides a new home for the St. Catharines based OHL team, the Niagara IceDogs. It also serves as a venue for other sports and entertainment events. The facility was developed using a design-build framework, with CBRE Limited acting as project consultants. The arena was built in the existing lower level parking lot, located behind the city’s main thoroughfare, St. Paul Street.
The joint venture Ball-Rankin Construction Inc. facilitated the build of the 5,300 seat, 160,000 sq. ft. arena with construction totaling $50 million, with Rankin donating the construction of two pedestrian bridges, worth upwards of $2 million, connecting the facility to St. Paul Street.
Marilyn I. Walker School of Fine and Performing Arts
The City of St. Catharines and Brock University combined forces to create a Niagara centre for the arts. Their ideal location was at the site of the historic Canada Hair Cloth building on 198 St. Paul Street. When the owner rebuked their million-dollar offer, the city undertook expropriation to obtain the property for $990,000. The city published their intention in the St. Catharines Standard claiming its necessity for the economic growth of the downtown area.
The 2.47 acre property is expected to open for class in September 2015 and will house fifty full time faculty, part time instructors and staff, with more than 500 students. The $39.6 million budget is comprised of a $15 million gift from Marilyn I. Walker to Brock University and $26.2 million from the province. The centre is constructed without any food outlets - encouraging students to frequent the businesses in downtown St. Catharines, strengthening the local economy.
The New Performing Arts Centre
The New Performing Arts Centre will be bringing modernization to the downtown area and, in conjecture with the Marilyn I. Walker School of Fine and Performing Arts (MIWSFPA), will enforce St. Catharines as a cultural centre of Niagara.
The 95,000 sq. ft. centre is scheduled for completion by 2015 and will include four performance venues, 600 events annually, and an estimated 125,000 visitors annually. It will also house a 280-seat recital hall for the MIWSFPA with some community access.
Contributing to the growth of St. Catharines
The announcement of these three major developments over the last few years impacted the surrounding downtown core, with numerous properties being bought and sold on speculation of greater things to come. Initially, the office and retail offerings within the downtown core remained somewhat static; however, as the construction timelines were announced, with shovels in the ground, the flavor of the downtown core began to change for the better. New entrants were noted, with updates to ground floor and upper levels spaces occurring throughout; something that was needed and had not been experienced for quite some time. The spin-off from the Meridian Centre traffic has already benefitted several property owners, with a greater sense of optimism in both the residential and commercial real estate market in Niagara once the performing arts centre and school developments are completed.
If you are looking to invest in Niagara and become part of the development of the downtown resurgence, connect with a Niagara real estate appraiser to arrange an appraisal.
