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May16, 2016

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Page 34 of 63 THE JOURNAL OF COMMERCE 35 CLOSEST TO KEY ASIAN PORTS BY 2 TO 3 DAYS SHORTEST PORT DWELL TIMES ON THE WEST COAST FASTEST TOTAL TRANSIT TIMES TO INLAND DESTINATIONS PRINCE RUPERT @rupertport Client Prince Rupert Port Authority Job Title 2015 Awareness Campaign Date May 1, 2015 C M SPEED: THE RUPERT ADVANTAGE Our shippers understand that the Prince Rupert gateway anchors the West Coast's fastest trade lane. Combined with our industry-leading reliability and market reach, we provide an exceptional service. That's the Rupert Advantage. with connections to both mainline railways. Some business already is being diverted to Calgary. "If you look at what's happen- ing in Calgary, larger logistics players are looking at next-gen 500,000- to 1 million- square-foot facilities that are highly efficient and superior to the type of building stock we have in Vancouver," Tom Corsie, vice presi- dent of real estate for Port Metro Vancouver, told The Journal of Commerce. "In Calgary, there is almost an endless supply of industrial land, and we are see- ing logistics companies locating in Calgary because they can't find suitable space in Van- couver," Corsie said. "There might be one or two locations in Vancouver where they can go, but they're very expensive. In Calgary, they've got multiple choices." Those choices come with a cost, he said. "As the study points out, part of the econom- ics of this is the fact that every 100 acres of logistics activity that could be in Van- couver, but is lost to Calgary, represents a C$1.9 billion economic impact to our region. If it goes to Calgary, there are also environmen- tal consequences. It is more efficient for that activity to occur in Vancouver. If it occurs in Calgary, there's less efficiency," he said. "It's critical that we retain trade-enabling lands necessary for creating jobs and stimu- lating the economy or all of us are heading toward an economic brick wall," Corsie said. "We think the provincial government in particular should be concerned about this. They've always been a very strong partner in the development of this gateway, and we think it's time to come together along with local regional governments in a coordinated effort to protect industrial lands." He said studies that have been done by Metro Vancouver show there's approxi- mately 28,000 acres of industrial land in the region with about 6,600 acres remain- ing for development. Of that, only about 1,000 acres are suitable for development for trade-enabling purposes. Given that amount of land, the port believes there's an existing shortage of 1,500 to 3,500 acres. Corsie stressed that disappearance of industrial land suitable for the marine indus- try doesn't currently present a problem, but it could be a serious problem in 10 to 15 years. There are bright spots, he said, and there are logistics facilities being built in the Rich- mond and Delta areas. "There are still lots of opportunities," he said, "but this is a prob- lem projecting out 10 to 15 years." Among the solutions he suggested for Vancouver would be the densification of residential housing projects and a review of the Agricultural Land Reserve legislation to ensure it's being used for the intended purposes and is balanced with the region's diminishing supply of industrial land. JOC Contact Leo Quigley at "METRO VANCOUVER'S SUPPLY OF VACANT INDUSTRIAL LANDS IS MODERATE AND DECLINING RAPIDLY."

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