Maple Ridge-Pitt Meadows: Airport industrial park sets off commercial demand

The region's housing start have grown exponentially, with investment incentives being offered to private investors interested in building commercial real estate

By
Western Investor
January 9, 2018





Maple Ridge Neighbourhood Information_0

 

The Maple Ridge and Pitt Meadows region has experienced unprecedented levels of commercial, industrial, and residential demand over the past five years, making a name for itself as one of Greater Vancouver’s fastest growing municipalities. In 2017, combined housing starts for both cities grew a whopping 148 per cent year-over-year, accelerated primarily by multi-family projects in Maple Ridge during 2017. Infrastructure updates and construction of the Golden Ears Business Park at Pitt Meadows Regional Airport has city officials hopeful that the area will become the two cities’ economic beacon. Maple Ridge independent of Pitt Meadows has an estimated industrial vacancy rate of just 1.7 per cent, with the re-designation of approximately 278 acres of land for industrial development, expected by 2040. Accordingly, the city has launched an Employment Land Investment Incentive Program, designed to encourage private investment in the construction of commercial real estate buildings and infrastructure. 

 

Tanya is Western Investor's web content and social media coordinator. She first joined the Western Investor team as a editorial assistant in 2016, after a summer spent freelancing at Glacier Media papers The Burnaby Now and New West Record. She is a graduate of Langara College's journalism program.
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