Downtown Investment Attraction Plan

A partnership between the Downtown Business Association and The City of Red Deer, this plan was approved and adopted by Red Deer City Council in May 2016.

With the expert assistance of consultants, the project was created to identify the key economic opportunities and drivers within our Downtown. Each of the opportunities identified build on the successes to date to ensure we will be investment-ready moving into the future. More interestingly, it provided some key findings on the type of businesses we should focus on attracting to the Downtown. It also details a parking strategy for the area along with a strategy for The City to encourage development on vacant lots.

The next step for your DBA is to implement the strategies that fit into the 2017-19 strategic plan. In preparation, your DBA has been increasing the internal capacity of the Association through economic development training. With increased knowledge and accreditation on-hand, your DBA will be versed in all areas of economic development ensuring we are taking the correct steps to attract and retain new and existing business to the Downtown core in the recommended sectors.

The good news is we are on the right track and, with some focused implementation in key areas, we are primed to take our Downtown to the next stage of success.

Click the links below to view the complete documents:

Here are some quick facts:

  • Historic Downtown currently holds approximately 2.7 million square feet of leasable commercial and retail space
  • Office vacancy is at 9% Downtown and 10% across the city
  • Retail vacancy is at 7% Downtown and 4% across the rest of the city
  • Overall, the inventory vacancy rate for Downtown is 8% – Red Deer does NOT have an over-supply of space on a city-wide basis
  • Peak weekday on-street parking demand is 322 stalls out of an available 595 (54%)
  • Peak weekday off-street parking demand is 554 stalls out of an available 980 (57%)
  • The ‘insufficient parking’ perception was considered to be an issue for customers at 57% of businesses

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