Latest news with #revitalization
Associated Press
5 hours ago
- Business
- Associated Press
Retail Activity Accelerates in Downtown Sarasota
BRADENTON, FL, UNITED STATES, June 30, 2025 / / -- Retail leasing activity is on the rise in downtown Sarasota, with new tenants securing storefronts along Main Street, Palm Avenue, and Lemon Avenue. Over the past several months, commercial property owners have signed a growing number of retail leases across key downtown corridors, contributing to an ongoing revitalization of the area's commercial landscape. The new leases represent a variety of retail categories, including fashion, specialty food, wellness, and home furnishings. Most range between 1,200 and 4,000 square feet. Several of the spaces had been vacant or under renovation during or following the COVID-19 pandemic. Commercial real estate advisor Stan Rutstein, who represented landlords in multiple recent transactions, observed increasing interest in downtown locations. 'Retailers are actively pursuing walkable, high-visibility locations, and downtown Sarasota meets those criteria,' Rutstein said. 'Inquiries and lease negotiations have significantly increased compared to this time last year.' Property improvements and building renovations have also contributed to the uptick. Several older storefronts have undergone exterior updates or full interior buildouts to meet tenant requirements. According to public leasing records and local brokerage data, base rental rates for downtown Sarasota retail space currently range between $40 and $55 per square foot, triple net (NNN), depending on location and condition. Further leasing activity is expected throughout the remainder of 2025, as several additional spaces are under construction or in active negotiation phases. About Downtown Sarasota Downtown Sarasota is the city's primary commercial and cultural center, located along Florida's Gulf Coast. It is home to a mix of historic architecture, performing arts venues, independent retailers, galleries, restaurants, and waterfront parks. The area supports a blend of residential, business, and tourism activity year-round, with continued investment in walkability, infrastructure, and mixed-use development projects. If you are in the market for a commercial property in downtown Sarasota—or have one to sell—contact Stan Rutstein at 941-539-8313 for expert guidance. Stan Rutstein RE/MAX Alliance Group +1 941-539-8313 email us here Legal Disclaimer: EIN Presswire provides this news content 'as is' without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
CTV News
3 days ago
- General
- CTV News
Portion of Wheatley evacuated for gas odour investigation
A portion of Wheatley is being evacuated by emergency services due to a gas odour investigation. The affected area is Foster Street between Victoria Street North and Erie Street North. Wheatley gas odour investigation Evacuated area in Wheatley, Ont. for a gas odour investigation on June 26, 2025. The evacuation is a precaution to ensure the safety of everyone in the area. A temporary shelter has been put up at the arena on Erie Street North for those who are displaced. Emergency services are on scene and the public is told to stay away from the area until further notice. More information to come as it's provided. This comes just weeks after plans were released to revitalize the downtown, four years after the explosion.
CBC
4 days ago
- Business
- CBC
Welcome to TD Coliseum — the new name for Hamilton's redeveloped entertainment venue
Samantha Beattie TD Bank Group has naming rights for what used to be FirstOntario Centre Hamilton's redeveloped arena and entertainment venue is now officially called TD Coliseum. TD Bank Group announced its multi-year naming rights sponsorship agreement on Wednesday. "We are proud to take part in the revitalization of this iconic landmark," said the bank's CEO Raymond Chun in a news release. "By securing the naming rights to TD Coliseum, we are not just investing in bricks and mortar – we're investing in the heart of the Hamilton community." TD Coliseum is scheduled to open later this year after extensive renovations by Oak View Group. "This milestone represents more than a financial investment — it's a powerful affirmation of Hamilton's growth, vibrancy, and bright future," said Tim Leiweke, chairman and CEO of Oak View Group, in the announcement. The 18,000-seat venue in downtown Hamilton was first opened as Copps Coliseum in 1985, in honour of former Mayor Victor K. Copps, and then FirstOntario Centre in 2014. Since Oak View Group began renovations in 2024, it's been called the Hamilton Arena. The project included a new facade, seating and artist lounges, as well as enhanced acoustics and sight lines. Last month, Oak View Group announced Canadian culinary star Matty Matheson will be opening The Iron Cow Public House restaurant in the arena. Italian tenor Andrea Bocelli is scheduled to perform at the TD Coliseum on Dec. 9 and country music singer Brad Paisley on Dec. 12. The Juno Awards will take place there in 2026. In 2023, the Oak View Group signed a deal with the City of Hamilton and Hamilton Urban Precinct Entertainment Group (HUPEG) to begin a $280 million renovation of FirstOntario Centre.
CBS News
19-06-2025
- Business
- CBS News
The Market Square revitalization project is underway, but some businesses are unhappy
If you've been around Market Square over the past couple of months, you certainly have noticed the noise. The revitalization project is in full swing, but it's not making all the shops happy. Are those construction sounds that people hear good? It depends on who you ask. "Eh – it's so-so," Talib Hussein, owner of Cherries Diner, said. "This construction is killing us down here," Joseph Parsons, General Manager at Whiskey B's, said. Parsons thinks it's a net negative. "We're gonna be down $100,000 in sales in two months," he said. "We're on track to lose $400,000, $500,000 dollars – just this year." The lack of people filling the stools means payroll cuts, too. "I actually had to let go of my number one cook two days ago," Parsons said. Whiskey B's side of the square hasn't even had traffic cut off yet. Over at Cherries Diner, it hasn't been uniform. "Come up-down, up-down," Hussein said. Around the corner at Nicholas Coffee and Tea? It hasn't been all that bad. "They've been a little bit down – but nothing really to be upset about or be concerned about right now," Kathy Marsico, Operations Director at Nicholas Coffee and Tea Company, said. Marsico says their business model helps. "Our sole income is not dependent on walk-in traffic," she said. She says there aren't any battles brewing with the construction guys either -- that they've been cooperative. "They've made some changes for us when we asked for it," Marsico said. "As long as it doesn't impede their operations, they've been great with us." Marsico also has good words for the Pittsburgh Downtown Partnership. "They've been very open with email communication as well as coming in and just checking in to see how we're doing," she said. Over at Whiskey B's, Parsons says he's not getting that communication. "Not one time has anybody come in here and asked me anything about anything," he said. "Period – that's what it is." All this work is to welcome people for next year's NFL Draft. "If we can get to April – we'll be fine… but the concern is getting to April," Parsons said. The Pittsburgh Downtown Partnership did respond to KDKA-TV's request for comment.
Arabian Business
18-06-2025
- Automotive
- Arabian Business
Renault boss Luca de Meo chosen by Kering to turn around their fortunes
Luca de Meo turned around the fortunes of carmaker Renault. He will now have to bring that acumen to selling handbags and high fashion. The 58-year-old Italian has been handpicked by François-Henri Pinault to revitalise brands like Gucci, Saint Laurent, Bottega Veneta and Balenciaga, and restore his company Kering to its former glory. Pinault took over as Kering's (then called Pinault-Printemps-Redoute) Chairman and CEO in 2005 and turned the company into a focused luxury operation from a retail conglomerate. However, from its position as the most eminent fashion brand in the world, Kering has slipped behind competitors like LVMH and Hermès. Gucci, Kering's flagship brand, has experienced six consecutive quarters of decline. Pinault had been advocating splitting his role for some time now, and that has finally happened. The Frenchman will continue to chairman of the board. De Meo's appointment will have to be approved by during the Shareholder Meeting on September 9. He is expected to take office on September 15. Share prices of Renault have dropped nearly 9 per cent from EUR42.99 (US$49.46) to EUR38.99 since the news of de Meo leaving the company broke on Monday. On the other hand, Kering stock prices have risen from EUR172.14 to EUR185, a jump of nearly 7.5 per cent. According to the Wall Street Journal, Pinault and his family hold a 42 per cent shareholding and about 60 per cent of the company's voting rights. The holding accounts for the bulk of the family's fortune, estimated at just under US$20 billion. In a statement, Pinault said: 'After twenty years of transforming Kering into a major global luxury player, the group is ready for a new stage in its development. 'From 2023, I launched a reflection on the evolution of the group's governance. It was in this context that I met Luca de Meo. His experience at the helm of an international listed group, his sharp understanding of brands, and his sense of a strong and respectful corporate culture convinced me that he is the leader I was looking for to bring a new vision and steer this chapter in our group's history. 'It is with complete confidence that I am handing over the leadership of Kering and our teams to Luca.' Renault's remarkable financial recovery The Milan-born de Meo has 30 years of experience in the automotive industry, beginning his career at Renault in 1992, followed by a stint at Toyota Europe and a long tenure at the Fiat Group. In 2009, he joined the Volkswagen Group as Group and Volkswagen Brand Marketing Director. Since July 2020, de Meo has been the CEO of the Renault Group. In 2020, Renault was heavily impacted by the COVID-19 pandemic, as almost every other business was, and reported losses of EUR8,046 million (US$9,259 million). From there, de Meo managed to engineer a turnaround and in February 2025, he announced the best profits in the group's history. The group posted a record operating profit in absolute value at €4,263 million (US$4,903.5 million), which represented 7.6 per cent of revenue. On his move to Kering, de Meo said: 'I would like to thank François-Henri Pinault and the Board of Directors for choosing me to lead Kering into this new phase of development. 'I am approaching this new professional challenge with enthusiasm, eagerness, and confidence, inspired by the strength of the group's brands and the expertise of its people. I am convinced that together we will continue to make Kering an essential player in the luxury industry.'
