Industrial lands play a critical role in Metro Vancouver’s economy, consisting of only 4% of the region’s land but 27% of total jobs. Growing demand, decreasing vacancy rates, and a scarcity of vacant land have pushed the region to a point where there is a critical need for more industrial supply. Without a consistent influx of new supply, Metro Vancouver may risk losing a significant amount of potential employment and economic activity from businesses that may instead choose another market with more availability.
Scope of Services
Colliers was engaged by Metro Vancouver to review issues and opportunities regarding industrial intensification along with the potential for mixed-use developments featuring industrial and commercial components. The overall purpose of this study was to assist Metro Vancouver with its objective to increase the capacity and utility of its limited industrial land base, and to identify specific recommendations that could help inform municipal planning processes.
The analysis included an assessment of the financial viability of intensified industrial development, with a review of key challenges associated with the increased costs of building up. Colliers provided Metro Vancouver with several recommendations ranging from planning regulations to financial incentives that will help the region maximize the economic output of its industrial land base.
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