TransLink seeks retailers to ramp up revenue
Plan is for 70% jump in retail space at stations by 2022
By Glen Korstrom | June 21, 2017, 3:53 p.m.
TransLink plans to help pay for Metro Vancouver’s transit system by leasing more space to retailers at its rapid-transit stations in the years ahead.
The transit-system operator is the landlord to a combined 10,000 square feet of space at 47 stations and it expects that number to jump to 17,000 square feet by 2022, its director of real estate programs and partnerships, Guy Akester, told a media scrum outside the Main Street-Science World SkyTrain station June 21.
He estimated that about $500,000 of the more than $410 million in revenue that TransLink raked in during 2016 came from retail leases.
That is down from the $695,927 that TransLink generated from retailers in 2012. Translink communications staff later told BIV that this was because of a change in the way that this revenue was reported and because of a one-time payment that was made in 2012.
An uptick, however, is certainly likely.
Main Street-Science World station newly has total of 2,771 square feet of retail space that TransLink leases to Starbucks, A&W and Tim Hortons.
Before the station’s recent renovation, TransLink generated no retail-lease revenue from Main Street-Science World station. Starbucks had leased space under the station but that square footage was previously owned by the City of Vancouver. So TransLink did not get a dime.
...
https://www.biv.com/article/2017/6/t...-ramp-revenue/