In February, the City of Chestermere [Alberta, Canada] hired Cushing Terrell Architecture to perform a Retail Market and Gap Analysis with the objective being to discover what residents feel is missing from Chestermere and where residents are spending their money.
You may have been a part of this research if you were approached at a local business earlier this year by a member of the Cushing Terrell team that asked you to participate in a lengthy survey about where you shop and what you would like to see come to Chestermere.
There has been much discussion about what is lacking in Chestermere. Most agree industrial business needs to come to our city to even out the residential and non-residential tax issue, and that retail is not the answer. But, with an ever growing population, the residents must have local services or they will spend their money elsewhere. That is currently the case as the report that came back from Cushing Terrell states there is an estimated $95 million a year being leaked out of Chestermere that equates to almost 60% of Chestermere resident spending is happening outside of Chestermere.
The results are now in and Cushing Terrell states that their findings are intended to assist the City of Chestermere to promote the community and help attract investors and businesses. The report showcased many of Chestermeres benefits — phrases such as “peaceful country lifestyle,” “fast growing,” and “very well connected,” but states that Chestermere is “under-served significantly by retail.”
KIERON HUNT, CUSHING TERRELL DIRECTOR OF CANADIAN OPERATIONS:
“Cushing Terrell is honoured to be working with yet another Alberta community, the City of Chestermere, in helping to assess, identify, and define retail gaps and opportunities as the City looks to continue its impressive growth and solidify its own identity in the Calgary region.”