|Assiniboine Credit Union Kenaston Village|
|Assiniboine Credit Union Scurfield Blvd|
It was only a few years ago that credit unions across the province started to consolidate. The banks had left them a lot of openings as they were closing branches all over. However, the credit unions needed additional strengths to capitalize and that is why merger mania took place.
Since that time, we have seen much large credit union locations merge. Now, Assiniboine has decided to take the plunge and close two of its smaller locations in south Winnipeg at Kenaston Village and in the Whyte Ridge Shopping Centre.
The location that Assinboine Credit Union wants to locate to is the Seasons of Tuxedo site. This had been reported on long ago but it is only now that we are hearing an announcement. Apparently, they were taking a wait and see approach first to see how fast the development would proceed and how successful. The new location will be 5,700 feet and once open, the other branches will close.
Seasons of Tuxedo presently is anchored by IKEA and Cabela's but Structube and River City Sports are amongst other stores are now open.
Fat Burger opens on August 8 and that will fill the last restaurant location in a building where Subway, Taco del Mar and Pita Pit.
A Shell gas station is well under construction beside the Mr. Lube at Seasons of Tuxedo. Piles are being driven in close to that site for another retail complex as almost all spots elsewhere are leased.
The site where the future Lowe's Home Improvement has not been touched. It is uncertain what the wait is about as plan approvals did go through the city.
As some businesses locate to Seasons of Tuxedo, other malls will have to figure out what to do with some of their new open space. Kenaston Village now has had the former Rogers sit empty for more than a year. They will soon loose Assiniboine Credit Union as well.
The absorption of the old Rogers and Blockbuster sites has been fairly good although some problem locations continue to plague real estate agents. Innovative thinking is probably required. For example, old movie theatres in Winnipeg were converted to retail and entertainment sites in Winnipeg. It is hard not to think that some solution is forthcoming with these expansive old video store. And if not, sub-dividing them seems to be in order.
Kenaston Village has to think about how they fit into the future.
The next wave of store announcements is coming soon. New restaurants as well
The big question for businesses is where to locate. There are now several viable options out there and for some, it is a wait and see attitude. We still don't know the impact of all the Targets just yet, especially the brand new ones. Will it affect traffic patterns dramatically? Polo Park could be even busier when the new Target is up at the stadium site.
In late summer, there may be a renewed surge of activity as businesses make the choice of where to invest.