Colliers International Consulting examined the potential influence that the proposed Surrey Skytrain extension line may have on the residential and commercial markets along the future Fraser Highway corridor. The City of Surrey wanted to understand the nature and scale of demand for both commercial and residential uses within the area. These findings would be used to inform the land use designations within the study area.
Colliers International Consulting worked with important stakeholders such as School Districts, First Nations Groups, TransLink and the Ministry of Transportation and Infrastructure to understand and align goals. Furthermore, Colliers provided planning recommendations for the City of Surrey and outlined key issues to be addressed relating to the land uses around the future sky train stations.
Colliers provided the following services:
- Demographic Analysis – conducted research and examined existing and projected population, household size and income;
- Residential and Retail Market Review – analyzed current and future inventory;
- Retail Performance Assessment – provided an understanding of vacancy and lease rates and underlying economic factors;
- Trade Area Demand Analysis – quantified retail and residential demand (warranted floor area) on a category by category basis;
- Density Bonus Feasibility Assessment – reviewed development impacts under current policies;
- Provided development scenarios and pro forma financial assumptions; and,
- Recommended Retail Programming – determined optimal mix of retail and restaurant uses, including target tenants and tenant types.