Oakridge Centre Economic Impact Assessment, Vancouver
About the project
The redevelopment of Vancouver’s Oakridge Centre is one of the most significant and transformative intensification projects being undertaken in the Lower Mainland. Traditionally an enclosed mall with surface parking, the redevelopment contemplates a significant market and non-market housing component, enhanced retail offering, park space and civic space.
urbanMetrics was asked to provide an economic impact analysis, to assist QuadReal in articulating the spin-off benefits associated with the significant investments being made at the Oakridge Centre. Our analysis articulated a range of one-time impacts associated with construction of the site, including total full-time equivalent employment, wages and salaries, and government tax revenue. Our work also articulated a range of ongoing benefits accruable as part of the project, including an expanded property tax assessment base, and the lasting impact of the creation of a civic centre on the site.