Friday, April 19, 2013

Even mini urban cores losing businesses

The TD Canada Trust in downtown Lambeth has closed.

Some years ago, Lambeth was a separate little town on the south edge of London. It liked to be known as "Lovely Lambeth." Well, the little place isn't quite so little anymore, nor is it as lovely, nor is it an independent little town. It has been annexed into the expanding London urban monolith.

Within walking distance of many Lambeth homes, it still closed.
London's downtown is suffering. And the former commercial core of Lambeth is also suffering, and for some of the same reasons: For example, competition from suburban development is killing the old main street businesses.

London lost a number of its bank branches in the core. As businesses left, I imagine a lot of the commercial business also left.

Driving through Lambeth I noticed that one of the few banks in the town core has closed. It has moved to a suburban outdoor mall a couple of kilometres away.

I wonder what a dying downtown in a real small town says about the new urbanism theories? The Lambeth downtown is located in the middle of an older, grid patterned neighbourhood. The TD Canada Trust bank that has closed was within a short walk of lots of homes, and it had adequate parking at the side. Yet, it closed.

The new bank has a drive-thru but is more than two kilometres distant.

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