What is the Hyde Park Business Improvement Association (HPBIA)?
The Hyde Park Business Association got its BIA designation in 2017, paving the way for the development of multi-year plans, hiring of dedicated staff and funding for community projects to be possible. BIAs serve as an economic and social anchor for the surrounding neighbourhood while helping stabilize and add vitality to the local community.
Why is a BIA Important?
Active and effective BIAs benefit not only the business community but the surrounding neighbourhood and the City as well. BIAs help businesses gain advantages from the improved local atmosphere and ambience, such as the presence of planter boxes, seasonal banners and seasonal lighting.
Improvements, among other activities, may retain more local customers and attract more visitors. Cost savings to members may result from improved integration of capital funding and promotional activities.
Businesses are not the only beneficiaries of a BIA. For Property Owners, BIA-Initiated improvements and activities may help create and sustain a more vibrant economic environment within an area, which may lead to an increased demand for retail and office space, a decrease in commercial vacancy, and an increase in property values.
History of the Hyde Park Business Improvement Association
The Hyde Park BIA has had its roots in this community for almost 40 years! On September 9, 1979, The Business Association of Hyde Park held its inaugural meeting. Twenty-three businesses were represented at the time, and a slate of interim officers was chosen to get the association going. The officers were: John Eberhard, chairman and organizer; Frank Wellman, vice-chair; Ron Johnstone, secretary; Tom Moulton, treasurer; and, task-force chairmen: Bud Broadfoot, Bob Latella, John Sim, Bill Frank, George Morris and Jack Merryfield. The BIA as it exists today would not have been possible without the work of previous volunteers, business owners, and community members.
They saw the need to associate to better service their customers, and to work together to promote the area to the surrounding residents, a value that we still hold close to our mission today. One of their concerns was the then current rumour concerning annexation by the City of London. They were also responsible for the concept of co-op advertising for the area which was responsible for the “Furniture Row” ads.
As time progressed, so did the role of the association. The Hyde Park Business Association (HPBA) was founded in 2004 to provide a voice and promote businesses located within the community. It grew into this form as we recognized the need for a solid business association that prioritized networking and membership growth. The Association received its non-profit incorporation status on January 16, 2009.