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					                            POINT GREY VILLAGE
                            COMMERCIAL pROfILE
                                         W 4t
                                              h                                      Ave
                                               W 5th Ave
                                                                                                     FIGURE 1
                                               W 6th Ave
                                 Sasamat St




                                               W 7th Ave
         Tomie St




                                               W 8th Ave
                                                           Trimble St



                     W 9th Ave


W 10th Ave
                                              POINT GREY
                    W 11th Ave
                                                                                      Discovery St




                                                                        W 12th Ave




                                                                                                                                                                                                                                                PHOTO: POinT Grey BiA
                                                                        W 13th Ave


                                                                        W 14th Ave


 NORTH
                                                                        W 15th Ave




                    Fast Facts                                                                                      about the point grey ViLLage bia
                                                                                                                    The Point Grey Business Improvement Area (BIA) boundary (see Figure 1) consists of the
         » 3 city block area, 12,000 residents, 64 commercial                                                       three blocks on West 10th Avenue near the UBC Gates, from Tolmie to Discovery Street.
           properties, 184 businesses and 1,200 employees.                                                          It accommodates 184 businesses and approximately 1,200 employees. Its residential
                                                                                                                    catchment area houses approximately 12,000 residents.1
         » Commercial Zoning (C-2).
                                                                                                                    Comprised of C-2 Zoning, Point Grey provides a strong commercial base, with a
         » Vancouver’s second smallest BIA, Point Grey has                                                          wide range of goods and services marketed in a central location to the surrounding
           $82 million in assessed commercial properties,                                                           neighbourhood. The area is ideally suited for personal service and retail businesses.
           representing 3% of commercial properties                                                                 This report provides an overview of the Point Grey commercial market, focusing primarily
           outside of downtown Vancouver.                                                                           on zoning and development potential as well as business and employee mix.2
                                                                                                                    A companion document, Point Grey Village Neighbourhood Profile, focuses on key
         » Area caters to a wide range of goods and
                                                                                                                    market information including population, household and spending statistics.
           services. 54% of all businesses in the BIA have
           less than 5 employees.
                                                                                                                    physicaL proFiLe
         » Strong representation in health and personal                                                             The Point Grey Village BIA is at the western edge of the city of Vancouver –
           services as well as eating and drinking                                                                  approximately 6.5 kilometres from City Hall and 6 kilometres from downtown.3 On a
           establishments and miscellaneous retail.                                                                 major transportation corridor to the University of British Columbia, and in the heart of a
         » Commercial stock is comprised primarily of older                                                         wealthy residential area of the city, the BIA enjoys a broad mix of clientele. The 3-block
           one and two-storey commercial buildings, which                                                           BIA is home to 64 commercial properties and 184 businesses. Key elements of the BIA’s
           are likely to be redeveloped in the future as the                                                        physical profile are discussed below.
           commercial market continues to grow.                                                                     Zoning Mix
         » Significant vehicle volumes pass through the                                                             The Point Grey Village BIA comprises approximately 7.9 hectares of land, 282,000 square
           BIA to and from UBC exposing commuters and                                                               feet of commercial area and 225,000 square feet of residential area.
           students to the BIA each day.                                                                            All commercial properties in the BIA are C-2 commercial zoning (64 parcels) as illustrated
                                                                                                                    in Figure 2. This zoning provides a strong commercial base for a variety of goods and
         » Between 2000 and 2005, the number of                                                                     services to be marketed in the surrounding neighbourhood.
           businesses in the BIA grew by 21.9% , higher than
           the Vancouver average of 20.2% and the Metro                                                             Assessed VAlue
           Vancouver average of 13.5%.                                                                              In terms of assessed value, Point Grey ranks second smallest among Vancouver BIAs.
                                                                                                                    The total 2005 assessed value of all Point Grey Village BIA commercial properties was
                                                                                                                    $82,154,312. This represents 3% of the value of all Vancouver BIA properties outside of
                                                                                                                    downtown and contributes over $1.35 million in property taxes.



                                                                                                                1
                                                                                                                  Residential catchment area is larger than the BIA boundary and comprises the area between Blanca Street (west), 16th Avenue
                                                                                                                (south), Alma Street (east) and the waterline (north).
                                                                                                                2
                                                                                                                  Unless otherwise stated, source of all statistics is City of Vancouver or Small Business BC.
                                                                                                                3
                                                                                                                  City of Vancouver VanMap.
              POINT GREY VILLAGE
              COMMERCIAL pROfILE


                                Figure 2: Zoning Mix
                                      Commercial Sq. Ft.




                                             C-2
                                         (64 parcels)
                                            100%
                                                         C-2C
                                                         20%




                                                                                                PHOTO: POinT Grey BiA
    Age & QuAlity of Buildings
    The majority of commercial buildings in Point Grey (36%) were
    constructed pre-1946. Many others (26%) were constructed
    between 1946 and 1970 as well as (27%) between 1971 and 1990,
    as illustrated in Figure 3a. However, many of these older buildings
    have been renovated such that only 2% reflect pre-1946 standards.
    50% have an ”effective” build year of 1946 to 1970 and 48% have an                                                  One example of this opportunity is the highly successful
    “effective” build year of 1971 or newer, as illustrated in Figure 3b.                                               commercial/residential development Point Grey Place at 4597 West
                                                                                                                        10th Avenue, built in 1995, which includes 7 stories of residential and
          Figure 3a: Year Built                      Figure 3b: Effective Year                                          ground floor commercial.
                                                                                                                        More recent examples are the former Varsity Theatre site at 10th and
                                                                                                                        Sasamat that is being redeveloped as a stylish 3-storey commercial/
                                                                                                                        residential building as well as Sasamat Gardens at 4400 West 9th,
               Pre 1946                                         1946-1970                                               where former single-family zoning has been rezoned to a 42 unit
                 36%                                               50%
                             1946 -1970                                                                                 high-end strata residential development. Another example is the
                                26%                                                                                     former Van City Building at 4545 West 10th, which will see similar
                                                                           1971-1990                                    development.
                     1971-1990                                                37%                                       The BIA is also close to the growing University of British Columbia
                        27%                                                                                             residential area, and is the closest commercial area serving this
                                               Pre 1946
    1991 & Younger                                2%                                                                    expanding market segment.
                                                          1991 & Younger
         11%
                                                               11%
                                                                                                                        business mix
    leAse & VAcAncy RAtes4                                                                                              The zoning mix and commercial building structure of the Point Grey
    A low commercial vacancy rate was identified for Point Grey.4 There                                                 Village BIA primarily support small personal service commercial and
    were no commercial properties for lease during a January 2006                                                       retail. The majority of businesses (54%) in the BIA are ‘micro’ sized –
    survey of the area. As such, current lease rates for the area are not                                               less than five employees, although there are a significant number
    available.                                                                                                          (43%) of businesses with 5-20 employees in the area. Major business
                                                                                                                        types include health services, personal services, eating and drinking
    DeVeLopment potentiaL                                                                                               establishments, miscellaneous retail, food stores and apparel and
                                                                                                                        accessory retailers, as described in more detail below.
    The Point Grey Village BIA is located along West 10th Avenue, a busy
    commercial and commuter street. The C-2 Zoning (commercial with                                                     Business types
    appropriate residential) within the BIA provides some potential for                                                 Similar to the average for the city of Vancouver and Metro
    increased density as market forces dictate.                                                                         Vancouver, the Point Grey BIA is primarily comprised of retail and
    Approximately half of the commercial properties in the BIA have                                                     service businesses. However, Point Grey has a significantly greater
    been redeveloped. The remaining half is comprised of older one-                                                     percentage of retail businesses than average, as Figure 4 illustrates.
    and two-storey commercial buildings, which still garner significant                                                 The BIA has some finance, insurance and real estate businesses,
    rental revenue and are likely to be redeveloped in the future as the                                                but negligible proportions of other major sectors such as
    commercial market continues to grow.                                                                                manufacturing, construction, wholesale and public administration.
                                                                                                                                                                                                  2
4
 BIA physical survey, January 2006 by National Land Consultants, Lucent Strategies and Girard
Land Services.
                               POINT GREY VILLAGE
                               COMMERCIAL pROfILE


                                 Figure 4: Commercial Business Mix

                      Retail
BUSINESS TYPE




                    Service

                  Finance,
                Insurance,
                Real Estate                                              Point Grey
                                                                         Vancouver
                     Other                                               Metro Vancouver

                           0%             10%         20%         30%         40%              50%
                                                   % OF BUSINESSES




                                                                                                     PHOTO: POinT Grey BiA
            Table 1 provides a detailed breakdown of business types for the
            Point Grey area as compared with the city and Metro Vancouver.

                                            Table 1: Business Mix
                                                Point Grey   Vancouver     Metro Vancouver

                 Retail                            45%            25%              23%                                       Of the 45% retail businesses, the most common are eating and
                 Service                           40%            45%              41%                                       drinking places (30%), miscellaneous retail (23%), food stores (20%)
                 Finance, Insurance, Real                                                                                    and apparel and accessory stores (16%), as outlined in Table 2. Of the
                                                   9%             8%               12%
                 Estate                                                                                                      40% service businesses, most are health services (45%) and personal
                 Other                             7%             22%              25%                                       services (21%).
                  Manufacturing                    2%             4%               5%                                        As for individual business types, there are a significant number of
                  Transportation,                                                                                            restaurants (20) as well as dentists (10), physicians and surgeons (10),
                  Communication and                2%             4%               4%                                        banks (9) women’s retail apparel stores (7) and beauty salons (7).
                  Utilities
                                                                                                                             Business siZe
                  Construction                     1%             3%               5%
                                                                                                                             The Point Grey Village BIA is primarily comprised of ‘micro’ sized
                  Wholesale                        1%             5%               6%
                                                                                                                             businesses with less than 5 employees (53%), followed by small
                  Public Administration            1%             3%               3%
                                                                                                                             sized 5-20 businesses with 5-20 employees (44%), as Figure 5
                  Agriculture                      0%             1%               1%                                        illustrates. A few small to medium businesses exist, including:
                  Minerals, Mines                  0%             2%               1%                                        Businesses with 20-49 employees:
                                                                                                                                 •	 Enda B Men & Women (a clothing store)
                                                                                                                                 •	 Mix the Bakery
                     Table 2: Breakdown of Retail & Service Businesses
                                                                                                                                 •	 Royal Bank Financial Group
                Retail Business Breakdown                                      #         %                                       •	 Starbucks

                 Eating & Drinking Places                                     24         30%
                                                                                                                                                Figure 5: Business Sizes
                 Miscellaneous Retail                                         18         23%
                 Food Stores                                                  16         20%
                 Apparel & Accessory Stores                                   13         16%
                 Furniture, Home Furnishings & Equipment Stores                6         8%
                                                                                                                                                                     Small
                 Other (5 or less)                                             3         4%                                                         Micro
                                                                                                                                                               (5-20 employees)
                                                                                                                                                  (under 5
                Service Business Breakdown                                     #         %                                                                            44%
                                                                                                                                                 employees)
                                                                                                                                                    53%
                 Health Services                                              32         45%
                 Personal Services                                            15         21%
                 Business Services                                             5         7%
                                                                                                                                                                            Small-Medium
                 Other (5 or less)                                            19         27%                                                                              (21-50 employees)
                                                                                                                                                                                  3%
                                                                                                                                                                                                        3
                        POINT GREY VILLAGE
                        COMMERCIAL pROfILE


       Age of Businesses
       Many of Point Grey’s businesses (37%) have been operating for over
       10 years. However, one quarter are only 1-2 years of age. Figure 6
       provides more detail on the distribution of business ages. Long-time
       businesses provide a stable market base, while fresh new businesses
       are increasing the area’s appeal for local residents and destination
       shoppers, as well as the commuters and students passing through
       each day.

                        Figure 6: Distribution of Businesses by Age
                  25%


                  20%




                                                                                      PHOTO: POinT Grey BiA
% OF BUSINESSES




                  15%


                  10%


                  5%
                                                                                                              The wholesale and transportation/communications/utilities sectors
                  0%                                                                                          declined in this time period, reducing by 67% and 20% respectively.
                        1-2 Years   3-5 Years    6-10 Years 11-14 Years   15+ years
                                                                                                              Both of these sectors declined by significantly more than average for
                                         # YEARS IN BUSINESS
                                                                                                              the city of Vancouver or the region. In terms of sub-industries, the
                                                                                                              fastest growing in the BIA were health services (7 businesses), food
       AnchoR tenAnts & doMinAnt Businesses                                                                   stores (6) and depository institutions (5).
       Anchor tenants in the Point Grey Village BIA include Safeway and                                       Figure 7 provides a breakdown of the top 10 fastest growing Point
       the major banks. A number of clothing stores such as Enda B are                                        Grey Village BIA sub-industries, as defined by Statistics Canada.
       also a draw for loyal clientele. In addition, coffee shops such as
       Mix the Bakery and Starbucks have helped to increase pedestrian
       traffic within the BIA. As previously discussed, retail and service are                                           Figure 7: Fastest Growing Sub-Industries
       dominant business sectors in the Point Grey area. The BIA also has
                                                                                                              Sub-Indusrty Type                                   Actual # Increase
       six major business clusters including:
          •	 restaurants (primarily daytime)                                                                   Health Services                                                7
          •	 dentists                                                                                          Food Stores                                                    6
          •	 physicians and surgeons                                                                           Depository Institutions                                        5
          •	 banks                                                                                             Apparel & Accessory Stores                                     3
          •	 beauty salons                                                                                     Eating & Drinking Places                                       3
          •	 women’s retail apparel                                                                            Building Materials, Hardware, Garden Supply &                  2
       On a percentage basis, the Point Grey Village BIA has significantly                                     Mobile
       more “health services” and “eating & drinking establishments”                                           Personal Services                                              2
       than average for the city and the region, with eating and drinking                                      Amusement & Recreational Services                              2
       establishments being the most numerous.                                                                 Legal Services                                                 2
       The BIA’s strong retail and health service business base would also                                     Engineering & Management Services                              2
       benefit from additional personal and business services.
       chAnge in Business Mix (2005-2007)
       Between 2000 and 2005, the number of businesses in the Point                                           DemanD potentiaL
       Grey Village BIA grew by 21.9%, higher than the Vancouver average                                      Point Grey Village BIA demand potential comes from three primary
       of 20.2% and the Metro Vancouver average of 13.5%. Growth was                                          sources – residents in the area, BIA employees, and other employees
       highest among the following sectors:                                                                   in the surrounding area. In addition, businesses in the BIA are
          •	 manufacturing – 2 businesses (200% increase)                                                     exposed to thousands of daily commuters and UBC students
          •	 finance, insurance and real estate – 7 businesses (78% increase)                                 traveling by bus, bike and car. Each of these potential customer
          •	 service – 17 businesses (32% increase)                                                           groups is discussed on the next page.
                                                                                                                                                                                      4
                 POINT GREY VILLAGE
                 COMMERCIAL pROfILE

ResidentiAl BAse
Just over 11,800 residents live within the BIA’s primary catchment area
(10th Avenue from Tolmie to Discovery, Blanca, 16th Avenue, Alma and
the waterline), and provide the primary market base for businesses.
The Point Grey residential base is a vibrant community of mature,
affluent and well-established seniors, working families and
professionals. A multi-cultural centre, the area is comprised of more
residents with British, Canadian and Eastern European and German
heritage than average for the city of Vancouver. Chinese is also a
significant culture, although less so than in the city of Vancouver.
English is the dominant household language for area residents.
Household sizes in this area are larger than the city average and
smaller than the Metro Vancouver average. With a higher proportion
of single-family homes, the area is home to a greater percentage of
homeowners than average for the city and the region.



                                                                                  PHOTO: POinT Grey BiA
Reflecting their older age and significantly higher education levels,
Point Grey exhibits significantly higher household incomes than the
Vancouver or Metro Vancouver average.
A companion document, Point Grey – Neighbourhood Profile provides
more detail about this important market segment.
                                                                                                     This growth will increasingly attract successful specialty retailers
eMployee BAse5
                                                                                                     catering to a sophisticated clientele.
Approximately 1,200 people are employed within the BIA itself. An
additional 3,320 work within a 1-kilometre radius of the BIA, providing                              This document provides an overview of the Point Grey commercial market, focusing primarily
an additional potential market base for businesses. Between 2000                                     on zoning and development potential as well as business and employee mix. Unless otherwise
                                                                                                     stated, the source of all statistics is the City of Vancouver or Small Business BC (Info Canada) data
and 2005, the Point Grey employee base increased by 14%, whereas                                     files. Info Canada files are based on postal code boundaries. As such, some minor inconsistencies
employment for the businesses in the surrounding area (1 KM radius)                                  with actual BIA profile may occur. A companion document, Point Grey Neighbourhood Market
                                                                                                     Profile, focuses on key neighbourhood market information, including population, household
increased by 7%.                                                                                     and spending statistics. To access this profile, visit www.bizmapbc.com. Neighbourhood market
                                                                                                     profiles are based on Statistics Canada census data. The most current Neighbourhood Profile is
pedestRiAn & Vehicle tRAffic                                                                         based on 2006 data.
West 10th Avenue is a major transportation corridor crossing through
the Point Grey Village BIA, providing exposure to thousands of daily
commuters and UBC students. There are currently no traffic counts
available for the BIA. However, with ample street parking and frequent
bus service, businesses in the BIA have significant potential to tap into
the high traffic volumes on the major routes and capture “through-
traffic” commuters to and from the UBC area as customers.
The City of Vancouver conducts pedestrian counts for approximately
250 blocks in the city, with the majority being in the downtown area.
Unfortunately, pedestrian count information is not currently available
for the Point Grey Village BIA.

concLusions                                                                                                       #162 - 4438 West 10th Ave. Vancouver, BC T 604-263-6443
                                                                                                                                  www.pointgreyvillage.com
Point Grey is a growing business area, with a diversified mix of
primarily retail businesses. The BIA provides a strong commercial base
for a variety of goods and services to be marketed in the surrounding
neighbourhood. The BIA is ideally suited for personal service and retail
businesses.
Market forces are slowly helping the BIA shift from primarily one and
two storey older retail units to mixed use three storey commercial/
residential developments. Approximately half of the BIA has already
been redeveloped. Remaining properties still garner significant
rental revenue and are likely to be redeveloped in the future as the
commercial market continues to grow.
                                                                                                                                                                                                             5
5
    Source of employee information is InfoCanada courtesy of Small Business BC.
           POINT GREY VILLAGE
           COMMERCIAL pROfILE



business improVement areas (bias)
1.    Cambie Village BIA (2006)
2.    Chinatown BIA (2000)
                                                                                                                   19




                                                                                                                                      GE
                                                                                                                                       OR
3.    Collingwood BIA (2001)




                                                                                                                                           GI
                                                                                                                                            A
                                                                                                                                               ST
                                                                                                                                                                                                8




                                                                                                                                                 .
4.    Commercial Drive BIA (2000)                                                                                                      15
                                                                                                                                                                          .
                                                                                                                                                                        ST
5.    Downtown Vancouver BIA (1990)                                                                                                                            A   RD                                                                                                                                                                    HASTINGS ST.
                                                                                                                                                            RR            5
                                                                                                                                                          BU                                                                                                                             9
6.    Dunbar Village BIA (2008)                                                                                                                                                                                17




                                                                                                                                                                                                                                                                                                                    RENFREW ST.
                                                                                                                                                                   20                                      2
7.    Fraser Street BIA (2007)                                                                                                                                                                                                  4
                                                                                   11
8.    Gastown BIA (1989)
                                                                                                                                                                                                                                                                                                        1ST AVE.




                                                                                                                                                                                                                                    CLARK DR.
                                                          ALMA ST.
                                                                       4TH AVE.
                                                                                                                                                                                           13




                                                                                                                                                                                                                                                    COMMERCIAL DR.
9.    Hastings-North BIA (2001)                                                                                                                 BROADWAY


10.   Kerrisdale BIA (1991)                     14
                                                                                                                                        16
                                                                                                                                                         12TH AVE.
                                                                                                                                                                                                                                                                                                                          GRANDVIEW HWY.
                                                                                                                                                          16TH AVE.
11.   Kitsilano Fourth Avenue BIA (2001)
                                                          DUNBAR ST.




                                                                                                                                                                                                                                                                                         NANAIMO ST.
                                                                                                                                                               1




                                                                                                                                                                              CAMBIE ST.




                                                                                                                                                                                                                                                                                                                                              RUPERT ST.
12.   Marpole BIA (2000)


                                                                                                     ARBUTUS ST.
                                                                                                                                   KING EDWARD AVE.

13.   Mount Pleasant BIA (1989)




                                                                                                                                                                                                                                                                     VICTORIA DR.
                                                                             6




                                                                                                                                                                                                MAIN ST.




                                                                                                                                                                                                               FRASER ST.
                                                                                                                                                                                                                                                                                                               29TH AVE.

14.   Point Grey Village BIA (2004)                                                     WEST BLVD.                                  33RD AVE.
                                                                                                                                                                                                                                                                                                       KIN
                                                                                                                                                                                                                                                                                                          GS




                                                                                                                                               OAK ST.
                                                                                                                                                                                                                                                                                                             WA
15.   Robson Street BIA (1991                                                                                                                                                                                                                                                                                  Y


16.   South Granville BIA (1999)                                                                                                   41ST AVE.


                                                                                  10
17.   Strathcona Area BIA (2000)




                                                                                                                                                                                                                                    KNIGHT ST.
                                                                                                                                                                                                                                                                                    18
                                                                                                                                                         49TH AVE.                                                          7                                                                                                                 3
                                                                                                                   GRANVILLE ST.




18.   Victoria Drive BIA (2004)
19.   West End BIA (1999)                                                                                                          57TH AVE.
                                                                                                                                                                                                                                                                                                        54TH AVE.




                                                                                                                                                                                                                                                                                                                                                           BOUNDARY RD.
20.   Yaletown BIA (1999)




                                                                                                                                                                                                                                                 ARGYLE ST.
                                                                                        S.W




                                                                                                                                                                                                                                                                                                                              KERR ST.
                                                                                           .M
                                                                                             AR




                                                                                                                                      12
                                                                                               INE
                                                                                                             DR




                                                                                                                                                 70TH AVE.
                                                                                                               .




                                                                                                                                                                                                                                                                                                                   DR.
                                                                                                                                                                                                                                                                                              S.E. MARINE
Business Improvement Area (BIA) organizations are not-for-profit
associations that promote the shared interests of commercial property
owners and businesses located within specified geographic areas.
Established by municipal bylaw, BIAs are funded through a special tax
levy that is collected by the municipality, and passed on entirely to
the individual BIA. These funds support programs such as marketing                                   partners:
& promotion, street enhancement, safety & security, events & festivals,
and business development. Each BIA organization is independently
managed by a Board of Directors, with autonomy for decision-making
and priority-setting.
The City of Vancouver has a formal program to support merchants and
property owners who wish to establish a Business Improvement Area.
Presently, there are 20 BIAs within the city of Vancouver, representing
over 15,000 businesses. Many of the businesses that are represented                                  For further information, please contact the Vancouver Economic
by BIAs are small and locally-owned.                                                                 Development Commission at 604-632-9668.
Production of the BizMapBC commercial and neighbourhood profiles                                     www.vancouvereconomic.com
has been made possible with support from the Vancouver Economic
Development Commission, Small Business BC, the City of Vancouver,
Western Economic Diversification Canada and the participating BIA.
The initial phase of the BizMapBC project (2005) established profiles
for 9 of Vancouver’s 20 BIAs and in 2007/08, commercial profiles for 6
of these BIAs were updated. In 2009, the remaining 11 BIAs will receive
both commercial and residential profiles.
www.bizmapbc.com
                                                                                                                                                                                                                                                                                                                                                             6

				
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