Moving Blog

The Millennials Taking over Vancouver

December 04, 2013

Everywhere across the country, and the world for that matter, Generation Y is reshaping life and cities.

Vancouver is no different, and that millennial touch is being felt across all industries. While much of the media tends to disparage this generation, any criticism you may hear is far from the truth; the generation is actually spurring tons of development in Vancouver and other places.

They have been doing so for a number of years. If anything, they should be receiving more admiration for remaining somewhat hopeful and innovative despite recessions and economies that constantly seem to be tanking. Now some are in positions of power and most places are feeling the effect.

This is a, in Melanie Jackson’s words, “tectonic demographic shift.” The possible growth is mindboggling.

In the Vancouver Sun article, “Vancouver’s growth propelled by the dynamic of a new generation,” Melanie Jackson writes, “If developers continue to meet this demand, and with the Canadian economy strengthening, all systems are go for 2014 to be a boom year in Canadian real estate, according to the recent Emerging Trends in Real Estate report by PwC and the Urban Land Institute.”

Because of the Millennials, Canadians nationwide may experience a boom year in terms of real estate. This couldn’t be arriving at a better time. While the economy has improved in spurts over the years, it has not maintained that level of consistency needed to really improve things, such as the development of self-contained neighbourhoods where work, play and going out are found in one place.

One such self-contained neighbourhood is Blackwood’s Central City in Surrey. Currently, it has 640,000 square feet of retail, a 340,000-square-foot Simon Fraser University campus and 550,000 square feet of office space. This miniature city is attracting many people in their twenties and thirties. It is a nice representation of what the future will look like.

At Highland Worldwide, we encourage such innovation when it comes to bettering our cities and neighborhoods!