FOOTSCRAY traders expect to face financial strain during the $45 million redevelopment of Footscray Plaza by Banco Group.
The year-long building closure, beginning this week, will cause major disruption to the flow of shoppers to surrounding businesses and put pressure on bottom lines, according to local business owners.
The redesigned building is expected to reopen next June and will retain Coles and Kmart as its main shopping attractions while adding five levels of apartments as part of the No. 18 Albert construction atop the existing infrastructure.
The apartments are expected to be completed by next September.
PERSONAL IMPACT: Coles worker rues ‘family’ loss
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Footscray Asian Business Association president Binh Le is concerned about the closure and its negative effect on his and other businesses in the area.
The half-owner of the Little Saigon shopping precinct in central Footscray is also concerned the lack of parking in the Footscray CBD will be made worse by the closure.
“We are trying to get the state government and council to build a multi-level car park for the area. Without that, businesses around here will struggle,” Mr Le said.
“Over the past 10 years, car parking spots in the area have been reduced by over 1000.”
Owner of nearby Metro West Kebab House, Walied Haouli, shares Mr Le’s concerns but remains positive about the long-term future of his business.
“There’s light at the end of the tunnel for those who can survive. You have 230 apartments going up and the renovations they are doing downstairs. It’s going to bring a lot of foot traffic. It’s big business, it’s very big business.”
Businesses dependent on run-off trade from Coles and Kmart will face new short-term challenges because of the area’s transformation, according to Maribyrnong deputy mayor Grant Miles.
“This will have an obvious short-term effect on traders, but it’s also an opportunity for food and grocery retailers to change shoppers’ habits,” he said.
Despite the challenges, Cr Miles is confident of long-term prosperity for the area.
“Being a trader myself, I am involved in the local business association, and the mood is positive. The renovation can be described as short-term pain for long-term gain.”
