The District of North Vancouver is taking steps to address the challenges faced by businesses in the area with the approval of a new economic development strategy. High rents, limited commercial space, and transit options have made it difficult for businesses to thrive in the district, prompting municipal staff to prioritize preserving employment space and improving business services.
The strategy, approved unanimously by council on May 6, will allocate an estimated $230,000 in new annual funding towards implementing various objectives over the next five years. These priorities were identified through consultations with businesses by the district’s business task force and discussed in a workshop with district staff in March.
As the district emerges from the pandemic, staff predict strong economic growth across all major employment categories. The plan anticipates the creation of over 11,000 jobs tied to employment land in the district by 2051, requiring an additional 4.2 million square feet of space.
To accommodate this growth, the district will focus on implementing land use and zoning policies to secure the appropriate form and density of industrial, commercial, and institutional space. The strategy includes encouraging more first-floor retail in mixed-use developments and protecting major industrial sites from subdivision.
Improving business services, supporting transportation and housing for employees, and cultivating great spaces are also key priorities in the economic development strategy. Council members emphasized the importance of rapid transit to the North Shore as a potential game changer for the district’s business environment.
By addressing these priorities, the District of North Vancouver aims to create a more supportive and conducive environment for businesses to thrive and contribute to the local economy.
