FRASER VALLEY – NAIOP Vancouver Chapter, and Bunt & Associates Engineering (Bunt), have produced a first-of-its-kind report examining the impact of parking supply rates on industrial sites across Metro Vancouver and the Fraser Valley. The Metro Vancouver/Fraser Valley Industrial Parking Study (The Study) examined more than 60 sites across Metro Vancouver and the Fraser Valley to highlight inefficiencies in existing systems and recommend optimal parking supply rates.
The Study is a follow-up report to a study drafted by NAIOP and the Greater Vancouver Board of Trade on the Economic Impact of Industrial Lands as well as a presentation by NAIOP to Metro Vancouver on the Intensification of Industrial Lands in 2019. These studies and presentations aim to emphasize the importance of Metro Vancouver and the Fraser Valley’s industrial land, given its limited supply and the geographic challenges of the region.
Based on the findings gathered from the study, to address the underutilized parking issue in Metro Vancouver and the Fraser Valley, Bunt recommends municipalities consider new parking supply rates for small, medium and large industrial sites based on building size and proximity to transit. This thoughtful approach will help mitigate limitations and foster economic growth in these regions.
Source: NAIOP Vancouver Chapter
