by Cigdem Iltan
Image: The Eaton Centre renovation will include environmentally friendly dining areas.
by Giannone Petricone Associates
Published Jun. 18, 2010
In April we posted Can Renovation Give You Good ROI? Ask Kijiji in which we stated that your commercial space is part of your company's image and a coherent branding will help persuade your customers to hire you or buy from you.
In the news on Friday June 18th the Globe and Mail published a story about the Eaton Centre getting a $120-million makeover. The reason for this renovation project: "to make the building bright, clean and inviting" to meet the "shoppers’ increasing expectations" and to compete in "a changing retail landscape", in other words to improve the Eaton Centre’s appeal and branding.
Analyzing the article it seems that the owners Cadillac Fairview have not only included art (artistic light fixtures by UnitedVisual Artists, new ambient lighting and interesting tiling patterns) but have also included a very important element: being more energy and green conscious. As part of the makeover the Centre will include "environmentally friendly dining areas equipped to reduce waste" and to produce "savings in electricity and water".
Talking in general terms, being environmentally conscious and green is important to many potential customers in all areas of business. Any new branding projects and renovations will have to include green elements and have to be genuine about them. For us we will always consider reuse, reduce and recycle as a starting point.
We can only hypothesize; according to the article the Eaton Centre is making a substantial investment, the biggest since its opening 33 years ago, but their ROI calculations must have been favourable.
An interesting sidebar comment in the article underscores the importance of renovation for your business. "Nino D’Arena salon manager …said she noticed an increase in business after her salon was recently renovated".
So, can renovation give you good ROI? The article seems to affirm the statement and we encourage all business owners to consider renovations to update their branding efforts.
Wo-Built Inc. - Innovative Design and Build
(416) 402 2679
torontolife.com: Shop Talk: How the Eaton Centre is spending its $120 million in make-over money
...Here’s what shoppers can expect from the transformation...
by Carley Fortune
thestar.com: Toronto Eaton Centre set for $120-million upgrade
First major revamp since it opened in 1977
by Dana Flavelle