Seeking tenants who want to grow their business in the heart of Little Italy.
By Erica Marie
The Piazza was a challenging venture that brought the residents of McCauley together to take ownership of a strip mall in the heart of Little Italy. Their desire to affect change was to resolve the drug trafficking, gambling, and high police presence in the area and convert it into a family-friendly commercial hub.
In November 2020, the McCauley Development Co-operative was created after raising over $1 million from 92 investors within the span of 20 days. The Edmonton CDC played a significant role in educating the neighbours and business owners on how to acquire the property and guiding them through the process. The initiative was a massive success with its unique approach in helping community members take charge of their neighbourhood.
Since the launch of the Co-op, they have been busy rebranding the commercial property to build a curated and exciting destination for Edmontonians.
3D rendering of the Piazza
“While we are working to build the vibe of a vibrant Food Hall, we have decided to focus on leasing independently demised kiosks to smaller vendors, as this seems to be the dictates of the market,” says Miranda Ringma, chairperson of the McCauley Development Co-operative.
One of the difficulties in leasing spaces to the food and beverage industry is the uncertainties of Covid-19. “This industry has been very hard hit, and we have needed to be patient in finding the best mix,” Miranda says.
The location is one of the reasons this piece of real estate offers a lot of potential. The Piazza is surrounded by thriving businesses such as The Italian Centre Shop, Zocalo, Spinelli’s Bar Italia, Brew-for-less, and the original Sorrentino’s restaurant.
With a newly renovated space, this new retail destination is welcoming businesses to the heart of Little Italy. They offer units starting at 960 square feet and 1,960 square feet, perfect for an ice cream shop, café or specialty retail. There is also an opportunity for a large restaurant space with a fully fixtured commercial kitchen at 4,100 square feet.
Leasing space, taken from www.piazzayeg.com
Miranda is hopeful about the progress of the Piazza and is excited to see a rejuvenated commercial hub. “There are lots of ways to lease space, and we are open and responsive to the needs of incoming tenants in terms of what they might need to create a viable and vibrant new business location at The Piazza. These are exactly the types of conversations we are engaged in and hope to bring to fruition in the next couple of months.”