From NIMBY-ism to IMBY-ism
Colliers International connected with Andrew Grant, President of PCI Group, to discuss the varying complexities and evolution of mixed-use developments. In part two of this four-part series, Andrew Grant speaks to the growing relationship between transit and real estate and, in particular, how it has changed over the years.
In the early 1990s, PCI Group developed a mixed-use project in New Westminster, BC that included residential and retail, and was built within close proximity to transit. At the time, Andrew notes, access to transit was not a high priority for the consumer and had no significant impact on the development. Fast forward 20 years and the demand for office, retail and residential to be within walking distance of transit is an important ingredient in successful mixed-use projects.
To learn more about how the relationship between transit and mixed-use developments has changed over the years, check out the video here: