Fast Facts - Office Development in the RegionFast Facts - Office Development in the Region2016-03-24T07:00:00ZGP0|#e04b455a-38c8-4b05-9905-86d5a97cd25d;L0|#0e04b455a-38c8-4b05-9905-86d5a97cd25d|Issue 19;GTSet|#d14ffe11-45dc-48fb-8684-ff109cf15a74<div class="ExternalClass5688A2D0AA804BB4A0EC332584228DDE"><p>This month’s fast facts come from Metro Vancouver’s NEW Metro Facts in Focus, called Office Development in Urban Centres</p><ul><li>The region experienced significant office development in the 1990s to the early 2000s, much of which was in the City of Vancouver, and to a lesser extent in Burnaby / New Westminster.</li><li>Between 1990 and 2014, there was a total of 48 million sq. ft. of office space developed in 670 buildings in the region, which is an average of about 2 million sq. ft. added per year.</li><li>In 2014, the region had 74 million sq. ft. of office space in 1,332 buildings that were 10,000 sq. ft. or larger.</li><li>Frequent Transit Development Areas (FTDAs) are locations where transit service runs at least every 15 minutes in both directions most of the day, every day of the week.</li><li>Between 1990 and 2014, approximately 61% of new office space was located within 800 metres (10 minute walk) of rapid transit.</li><li>About 44 million sq. ft. (60%) of office space is located within 800 metres (about a ten minute walk) of a rapid transit station</li><li>About 18 million sq. ft. (24%) of office space is located within 400 metres (about a five minute walk) of frequent bus service</li><li>Compared to other North American markets, Metro Vancouver has fewer large head offices, and many smaller sized office tenants.</li><li>Surrey has 10% of the regional office market, with a variety of office building types distributed throughout the municipality.</li></ul><p>Read more <a href="/services/regional-planning/PlanningPublications/FactsinFocusOfficeDevelopmentJan2016.pdf" target="_blank">here</a>.</p></div>0