INDUSTRIAL

MARKET

OVERVIEWPresented to:

Metro Vancouver

Planning

Committee

Presented by:

Curtis Scott | Manager, Market Intelligence | Western

Canada Roy Pat | Industrial Sales & Leasing | Vancouver

Market Overview

PRESENTATION AGENDA

1. Metro Vancouver Industrial Market Overview

A. Current Inventory

B. Metro Vancouver vs. Canadian Major

Markets

C. 10-year Historic Activity

D. Supply / Demand

2. Non-Traditional Occupier Demand

INDUSTRIAL

OVERVIEW

Market Overview

METRO VANCOUVER INDUSTRIAL

INVENTORY

Market Overview

CANADIAN CONTEXT

Market Overview

CANADIAN INDUSTRIAL MARKET

Market Overview

CANADIAN INDUSTRIAL MARKET

Market Overview

HISTORIC AND FORECASTED TRENDS

Market Overview

METRO VANCOUVER INDUSTRIAL MARKET – 2007 – 2017F

Market Overview

SUPPLY / DEMAND

Market Overview

UNDER CONSTRUCTION – Q1 2017

Market Overview

HOW MUCH SPACE IS NEEDED?

Market Overview

HOW MUCH SPACE IS NEEDED?

Market Overview

NON-TRADITIONAL DEMAND

Market Overview

8355 RIVERBEND COURT, BURNABY

Market Overview

FILM INDUSTRY IMPACT TO

INDUSTRIAL

Market Overview

13471 CRESTWOOD PLACE,

RICHMOND

Market Overview

3810 JACOMBS ROAD, RICHMOND

Market Overview

LOOKING FORWARD…

• Multi-level, Stacked Warehousing in Urban Areas

• Lease Rates Increasing due to Limited Supply

• Tenants Moving South and East due to Redevelopment

Thank You

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Market Overview

Market Overview

IRONWORKS – STACKED

INDUSTRIAL/OFFICE

Presentation to Metro Vancouver - Regional Planning

Committee

Peter Hall

Urban Studies, SFU

9 June 2017

Questions for industrial land policy in a port-logistics region:

• This is a port-logistics region, but it is not only that:• In what ways are trade-enabling uses like or unlike other industrial land uses? • How does the region balance and link big/macro flows and small/local flows?

• How can joint urban and port planning facilitate the next economy?• Spatial restructuring and rescaling (the region, the districts, their connectivity)• Inequality (in our cities, in shipping, in manufacturing)• Sustainability (greening, displacement, innovation)• Lack of shared knowledge (port, industry, city) and “opportunity structures”

• Traffic planning in port-cities• Metaphor matters• Emerging better practices

• Six principles for improved port-city-waterfront(-industry) planning

An “ ‘opportunity structure’ is not a static phenomenon, but a complex of

relations that shifts and changes through time. Nor is it something

that can be easily known; instead, knowledge about it develops through experience. An opportunity structure

is not a clearly delineated and contained ‘action space’.”

Healey, 2009: 443-4

• …metaphors influence how we understand and communicate about the dimensions of an issue, and the potential solutions; they also influence which stakeholders are invited to participate in the decision-making.

• Make space for flexibility

• When at the water, think about the land

• Cross the land-water divide

• Educate, meaningfully

• Institutionalize sites of learning

• Plan incompletely

Six principles for improved port-city-waterfront

and -industry planning

Sources:

• Hall, Peter. Traffic planning in port cities. OECD-ITF Roundtable on Container Port System of the Future. Buenos Aires, 10-11 April 2017.

• Hall, Peter. How can joint urban and port planning facilitate the next economy - flexible frameworks of port and city? 15th World Conference, Cities and Ports, "Crossovers", Rotterdam 5-7 October 2016.

• Hall, Peter. “Manufacturing logistics”, in JB. Bryson, J Clark and V Vanchan. (eds), 2015. The Handbook of Manufacturing Industries in the Global Economy, 58-70. Northampton, MA: Edward Elgar.

Metro 2040 Sewerage Area Extension Request1373 200 ST, TOWNSHIP OF LANGLEY

Jaspal MarwahREGIONAL PLANNER

Regional Planning Committee, June 9, 2017

1373 200 StreetLangley Township

Zoning Rural

OCP Agriculture

Rural Community Plan

Small Farms/ County Estate

Metro 2040 Agricultural

SewerageExtension Area

ALR Yes

*

6.9 Sewerage Area

Extensions6.9.1 Notwithstanding any other provision in

this Regional Growth Strategy, the area identified

on Map 12 as “Rural within the Sewerage Area”

includes part of the Salmon River Uplands in the

Township of Langley that is contained within the

Greater Vancouver Sewerage and Drainage District’s

(GVS&DD) Fraser Sewerage Area. For the areas

identified on Map 12 as “Sewerage Extension

Areas” known as North Salmon River Uplands and

South Fernridge in the Township of Langley, sewer

servicing will be permitted subject only to land uses

being consistent with the applicable regional land

use designation and normal GVS&DD technical

considerations.

Urban Centres and FTDA Review Update

PHASE 1 FINDINGS AND NEXT STEPS

Erin RennieSENIOR REGIONAL PLANNER

Regional Planning Committee, June 9, 2017

2

Urban Centres and FTDAs: Critical tools for

shaping growth and realizing the vision in Metro 2040

3

40%of dwelling

unit growth to

Urban Centres

Metro 2040 targets

28%to good transit-

oriented locations

along the FTN

+

50% of employment

growth to

Urban Centres

27%to good transit-

oriented locations

along the FTN

+

4

• Evaluate relevance and effectiveness of

current growth structuring tools and

policies

• Advance Metro 2040 objectives

associated with Urban Centres and

FTDAs

• Integrate growth structuring tools with

transportation planning tools

• Improve service to member jurisdictions

Scope of Review

5

1. Lack of clarity in the Urban Centre

or FTDA structure / hierarchy

2. Limited and varied identification of

FTDAs in RCS

3. Lack of clarity of value proposition

for municipalities to identify FTDAs

and role of MV &TransLink.

Key Issues

6

UC&FTDA Review: Goals and Timeline

Phase 1

• Understand how UC & FTDAs are being used and how they are working.

• 2015-2017

Phase 2

• Develop and test options for improving UC & FTDA tools.

• 2017-2019

Phase 3

• Develop new policy and tools.

• 2019-2021

10 year RGS Review

• 2021

7

Phase I: Activities& Findings

• Not all density is created

equal. Complete communities

matter.

• Challenge of fostering the

economic role of Centres

• Challenge of leveraging

development for particular

amenities.

• FTDA tool can be useful but

has limitations, especially

before a planning process

has taken place.

1. Data Profiles

2. Municipal and Agency

Workshops

8

• Integrate lessons from ongoing

Regional Planning projects

• 2016 Centre Data Profiles

• Continue to study, develop, test,

and refine UC & FTDA policies

• Opportunities for municipal

knowledge sharing

Phase II & Next Steps

Thank you