Thursday, May 7, 2015

Transit a magnet for new office space in Metro Vancouver

Metro Vancouver recently released a report about where office space is located throughout the region. The following map shows the distribution of office space, and the rapid and frequent transit network.

2014 Metro Vancouver office space distribution with rapid and frequent transit network. Select map to enlarge.

One of the interesting things to note is that the Township of Langley has seen some new office space developed in the Carvolth area near Highway 1. With the introduction of the Carvotlh Park and Ride, express bus service to SkyTrain, combined with the Township’s plan to create a transit village, this area has the groundwork in place to be pedestrian-friendly and transit-accessible. Of course, this depends on new transit funding being approved.

If new transit funding is approved, this will attract even more office space to the Township. Attracting office space is one of those things that every municipality strives to do; offices normally provide a source of good-pay jobs for a community.

Office inventory distribution based on location to transit service type. Select map to enlarge.

Looking at the preceding map, a correlation between good public transit service and office location emerges. In Metro Vancouver, 60% of office space is located near rapid transit, 24% of office space is located along a frequent transit corridor (where bus service is provided every 15min or better, most of the day), and only 16% of office space is not located by rapid or frequent transit.

The report also looks at where office space has been locating since 1990. 46% has been built in Downtown Vancouver and along the Broadway Corridor. 17% in regional and town centre, and 37% outside of urban centres. Only 17% of office space built since 1990 doesn’t have access to rapid or frequent transit.

While a small amount of office space has been built near freeways, the best way to unlock the economy potential of the South of Fraser is to build pedestrian-friendly communities that are connected with high-quality transit service.

1 comment:

Unknown said...

It's wonderful that there is so much public transport infrastructure for the office people in this area. If there is anything that makes property value increase, it's making moving around the city easy!