3. OCCUPANCY AND VACANCY

There were 1979 business premises in the study area in 1967. These consisted of 383 vacant (19.5%), 1292 tenant-occupied (65.2%) and 304 owner-occupied (65.2%) premises.

The [XMLmind]-space data indicate that there were 449,600 sq. ft. or 5% of vacant floor-space in the Downtown study area. The 5% floor-space vacancy is low compared to 19% business premises vacancy. This indicates that many of the vacant business premises are relatively small offices.

The greatest number of vacancies was found in the three blocks on the north side of Portage bounded by Notre Dame Avenue, Donald Street, Portage Avenue, and Ellice Avenue; and on the south side of Portage Avenue in the blocks between Main Street, Edmonton Street, Portage Avenue and Graham Avenue. This is a high rent area, and the relatively high rate of vacancy of premises probably reflects the fact that business men are reluctant to pay the prevailing rents for space which is small or obsolete or otherwise inadequate.