A tax break alone won鈥檛 revitalize Government Street, but it鈥檚 an idea worth exploring. More important, it advances the discussion on what to do with a downtown street that is looking a little down at the heels.
Victoria Mayor Lisa Helps has suggested a five-year property-tax exemption for some property owners along Government Street might help fill some of the empty storefronts.
Let鈥檚 be clear 鈥� Government Street isn鈥檛 a dead thoroughfare lined with derelict buildings whose doors creak in the dusty wind as tumbleweeds bounce past. There鈥檚 plenty of life there, but it鈥檚 a street that is not living up to its potential. There are some prominent vacancies, and an empty store is a bit like a tooth cavity 鈥� if it isn鈥檛 filled, it tends to spread the decay.
Inspired by Langford鈥檚 move to cut some fees to encourage development in its downtown, Helps said an economic-revitalization tax exemption might result in lower rents and reduced vacancies. But there鈥檚 no guarantee tax savings would be passed on by landlords. There are businesses, particularly ones in their early stages, whose owners would like to be part of the downtown scene, but can鈥檛 afford the high rents.
And if you operate a business on Store Street or Douglas Street, you might resent tax breaks for Government Street properties, particularly if those properties house your competitor.
While a tax exemption is one tool that could be considered, it shouldn鈥檛 be the only tool in the chest. And it shouldn鈥檛 be the first tool to reach for.
There is no easy 鈥渙ne size fits all鈥� approach, says Randy Holt, vice-president of DTZ Victoria Real Estate. Each vacant property should be analyzed to ascertain the reasons for its vacancy, and measures taken to overcome the obstacles to securing a good tenant, he said.
While the city can be supportive, sprucing up Government Street shouldn鈥檛 be a city initiative. That effort needs to come from the property owners and businesses along the street. They can emulate other downtown areas.
Lower Johnson Street rebranded itself as the region鈥檚 fashion boutique district, and adopted LoJo as a catchy name. Merchants along Fort Street promote 鈥淔abulous Fort鈥� shopping. There鈥檚 the Design District and Humboldt Valley, areas that took on themes and a new attitude. And Victoria鈥檚 Chinatown continues to draw tourists and residents to the downtown area.
These districts are not competing, but complementary, and Government Street stands to benefit from all the activity around it. As real-estate professionals are wont to say, location is everything, and in that respect, Government is well situated. It鈥檚 a natural funnel for passengers from boats and seaplanes that come to Victoria鈥檚 harbour.
It鈥檚 time to heed buskers festival promoter John Vickers鈥� suggestion to turn Government Street into a temporary pedestrian mall during the summer, with relaxed rules about outdoor seating for restaurants, food carts, buskers and events. More festivals, more music, more action will bring in more people.
Sure, the street has a few bland and bleak facades that could use dressing up, but it also has many character buildings. 鈥淗eritage鈥� and 鈥渦pbeat鈥� do not need to be mutually exclusive terms. Problems should be examined and remedied where possible, but the focus should be on the street鈥檚 advantages, which are many.
鈥淭here is no easy short-term fix, but there is a great story to tell,鈥� Holt says. 鈥淕overnment Street is already special, but it could be so much better than it is.鈥�
Kudos to Helps for proposing an idea and starting the discussion. It will be interesting to see if there is action, or if the whole issue gets smothered in studies and consultations and we鈥檙e still looking at empty storefronts in a year.
