zoomer
01-19-2007, 06:22 AM
..according to a major consultant report from Coriolos which came out today. All of which leads to the inevitable increase in height limits in order to accommodate future growth.
Also a separate Colliers report is suggesting the same thing..From CFAX 1070 radio:
THE LOCAL COMMERCIAL REAL ESTATE MARKET IS SEEING OCCUPANCY IN JUST ABOUT EVERY RENTAL SPACE AVAILABLE -- BUT IS BEING HELD BACK BY SEVERAL FACTORS, ACCORDING TO AN INDUSTRY LEADER.
COLLIERS INTERNATIONAL SAYS DOWNTOWN PRIME OFFICE SPACE IS AT A 0% VACANCY RATE -- WITH REGIONAL INDUSTRIAL SPACE AT 0.3% VACANCY.
MANAGING DIRECTOR ANDREW TURNER SAYS THERE'S A CRITICAL SHORTAGE OF LAND -- BUT HE'S CONFIDENT THERE WILL EVENTUALLY BE MORE ROOM IN THE MARKET.
"THE DYNAMICS OF SUPPLY AND DEMAND SHOULD DICTATE THAT SUPPLY WILL INCREASE TO MEET THAT DEMAND," TURNER SAYS. "ONE OF THE PROBLEMS THAT WE HAVE IS THE COSTS OF CONSTRUCTION HAVE INCREASED SO DRAMATICALLY THAT THOSE ECONOMIC RENTS THAT ARE NECESSARY FOR NEW BUILDINGS TO BE BUILT ARE, RIGHT NOW, NOT ATTAINABLE."
TURNER SAYS THE CITY SHOULD CONSIDER ALLOWING MORE DENSITY DOWNTOWN -- AND SHOULD MAKE THE RE-ZONING AND DEVELOPMENT PERMIT PROCESS LESS CUMBERSOME.
here's a page from the previous report:
http://img.photobucket.com/albums/v217/VicHockeyFan/conclusions.jpg
as always, for all the Victoria news and then some, go to VibrantVictoria.ca (http://vibrantvictoria.ca)
http://static.flickr.com/111/314282834_94394b718a_b.jpg
http://static.flickr.com/112/313576825_fa6e8b788e_b.jpg
Also a separate Colliers report is suggesting the same thing..From CFAX 1070 radio:
THE LOCAL COMMERCIAL REAL ESTATE MARKET IS SEEING OCCUPANCY IN JUST ABOUT EVERY RENTAL SPACE AVAILABLE -- BUT IS BEING HELD BACK BY SEVERAL FACTORS, ACCORDING TO AN INDUSTRY LEADER.
COLLIERS INTERNATIONAL SAYS DOWNTOWN PRIME OFFICE SPACE IS AT A 0% VACANCY RATE -- WITH REGIONAL INDUSTRIAL SPACE AT 0.3% VACANCY.
MANAGING DIRECTOR ANDREW TURNER SAYS THERE'S A CRITICAL SHORTAGE OF LAND -- BUT HE'S CONFIDENT THERE WILL EVENTUALLY BE MORE ROOM IN THE MARKET.
"THE DYNAMICS OF SUPPLY AND DEMAND SHOULD DICTATE THAT SUPPLY WILL INCREASE TO MEET THAT DEMAND," TURNER SAYS. "ONE OF THE PROBLEMS THAT WE HAVE IS THE COSTS OF CONSTRUCTION HAVE INCREASED SO DRAMATICALLY THAT THOSE ECONOMIC RENTS THAT ARE NECESSARY FOR NEW BUILDINGS TO BE BUILT ARE, RIGHT NOW, NOT ATTAINABLE."
TURNER SAYS THE CITY SHOULD CONSIDER ALLOWING MORE DENSITY DOWNTOWN -- AND SHOULD MAKE THE RE-ZONING AND DEVELOPMENT PERMIT PROCESS LESS CUMBERSOME.
here's a page from the previous report:
http://img.photobucket.com/albums/v217/VicHockeyFan/conclusions.jpg
as always, for all the Victoria news and then some, go to VibrantVictoria.ca (http://vibrantvictoria.ca)
http://static.flickr.com/111/314282834_94394b718a_b.jpg
http://static.flickr.com/112/313576825_fa6e8b788e_b.jpg
