Commercial vacancy rates are dropping in Essex.
According to a report going before council on Monday, the vacancy rate in Essex Centre is at 4.76% and 5.05% in Harrow Centre.
The town has been conducting downtown vacancy studies since 2017 with the latest study taking place in the spring of 2024.
In the summer of 2017, the vacancy rate for Essex centre was at 11.54% and 10.42% in Harrow Centre.
Another study was held in the summer of 2022 and saw the vacancy rate in Essex Centre at 5.79% and 6.0% in Harrow Centre.
Mayor Sherry Bondy says she's happy with what she's seeing.
She believes what the town is doing is working and says the town is also working with the chamber and BIAs.
"It's showing that when we invest in our downtown cores, business are turning around and investing in us as well," she says. "We've also done community improvement plans, giving businesses the opportunity to provide for facade grants. We've done some main street ambassador grants, where people can work on social media, marketing, apply for different types of grants in terms of that. This is really good in terms of seeing businesses expand."
Bondy says the study provides really good information for the municipality.
"It's good information for investors who want to invest in downtown," says Bondy. "It's really good information to also see, is it the professional, it is the restaurant, is this a retail so we're seeing the different types of businesses as well. So now we can compare what we're getting and kind of go after what we're looking for."
The report states only street level units were included in the study.
The study focuses on three zones in both Essex Centre and Harrow Centre.
