South Westminster, Tilbury and Port Kells are some of the industrial centres to be served by the $1 billion Vancouver commercial real estate road project, Highway 17, which is set to feature four lanes. Moreover, with this project in place, it is also possible to develop the lands of TFN (Tsawwassen First Nation) industrially; this is in accordance with the April 2009 TFN treaty.
These kinds of developments have transformed businesses in the area that import and export goods. Conversely, the businesses have led to the expansion of Vancouverâ€™s real estate in the commercial arena. For instance, the highway system, efficient and direct connection to the Deltaport and terminals termed inter-modal play a great role in the development of this sector of the real estate industry. Similarly, the road network under construction is expected to bring positive changes to businesses that specialize in the distribution of goods and services within the Metro Vancouver area such as Frito Lay.
From the areas to the west of Vancouver, Highway 1 can be easily and efficiently accessed. As a result of easing traffic congestion and more openness, businesses are more likely to change location to North Surrey at Bridgeview or North Delta at Tilbury. These kinds of changes will totally transform Vancouverâ€™s industrial areas. Many commercial properties in the real estate in Vancouver have since sprung up on certain locations along the road, deemed SFPR, that is still under construction. The creation of a perfect business environment in the area resulted from major infrastructure investments, re-election of the liberals (which was not expected) and interest rates on loans that are very low.
A positive community, a balanced and strong real estate market, availability of stratified spaces and uniform procedures for acquiring permits for all businesses irrespective of size are some benefits to come with the construction of the Vancouver commercial real estate.