Which areas of Metro Vancouver grew fastest in 2011?

According to the Province’s 2011 Sub-Provincial Population Estimates, Surrey continued to lead all Metro Vancouver municipalities in 2011 with a 2.4% growth rate, adding over 11,000 people; beating out the much larger City of Vancouver in terms of absolute growth and percentage growth.

Source: BC Stats
 

Some smalller cities posted good growth levels including Port Moody, New Westminster and Pitt Meadows, despite much smaller populations. The City of Vancouver continued its positive trend with 8,391 new people in 2011, representing 1.3% growth. Squamish posted phenomenal 4.6% growth after a few years of stagnancy. Mission was the only area near Metro Vancouver posting a decline.

As Gordon Price pointed out, unless Vancouver stops growing altogether, it will still be decades before Surrey overtakes it as the largest municipality in B.C.

 

Posted in Market Research | Tagged , | Leave a comment

Evergreen Line Presents Numerous Development, Investment Opportunities

Pre-construction work begins this week with completion in Summer 2016

The newest addition to Metro Vancouver’s rapid transit network is the Evergreen Line. The line will connect Coquitlam to Vancouver via Port Moody and Burnaby. It will connect without transfer to the current SkyTrain network at Lougheed Town Centre Station and will integrate with regional bus and West Coast Express networks.

The line totals 11 km in length and has 6 stations. It will link Coquitlam City Centre to Downtown Vancouver in 40 minutes.

Development and Investment Potential

The Cities of Burnaby, Port Moody and Coquitlam have all undertaken varying measures of adaptation in planning to accommodate the Evergreen Line. The main commercial/residential corridors primed for additional growth are as follows:

  • North Road
  • Clarke Road
  • St. Johns Street/Clarke Street
  • Aberdeen Avenue/Barnet Highway
  • Pinetree Way

Contact us for further information on specific development and investment opportunities in this rapidly growing area.

Posted in Market Research | Tagged , , , | Leave a comment

7707 Royal Oak, Burnaby Sold

The strip retail building at 7707 Royal Oak in Burnaby has sold to 7707 Royal Oak Developments Ltd. for $2,175,000, representing $75 per buildable SF on a site area of 19,425 SF.  The building has 8,285 SF of rentable area.

Six local tenants occupy the premises and include a convenience store, restaurant, video store, beauty shop, a doctor and a Chinese take out food store.

The property is designated as mixed-use in the Royal Oak area plan and represents near term redevelopment potential.

Posted in Real Estate News | Tagged , , , , | Leave a comment