The numbers in Riversdale speak for themselves.
The vacancy rate has dropped from 50 per cent to 14 per cent. The neighbourhood was once the home to 17 pawnshops – now there’s only six left standing. Last year, the area doubled other communities and saw a 20 per cent boost in new business licenses,
Twentieth Street is lined with trendy new business, including cafes, lunch spots, and a yoga studio. Many of the new shops have an extended focus on healthy living and offer courses, classes and advice for balanced living.
While the first few blocks of 20th are trendy and new, just a few blocks away there are places like the Friendship Inn’s Soup Kitchen, Station 20 West, a mixed-use community centre, and affordable housing and rental units lining the streets.
The city is hoping to see new home owners move in to the area to balance out the market.
“That will spur and bring more economic activity to the area in terms of people who actually live here and are here for the long term instead of very transient in population,” Randy Pshebylo of Riversdale Bid said.
Already, more foot traffic in the area has reduced crime, and more visitors are in the area to see new shops and festivals. With more permanent residents in the neighbourhood, the hope is that the trend will continue.
