As Our Cities Grow + Densify, Can We Provide Affordable Space For Independent Business?
Background
Across British Columbia, rising commercial rents and operating costs are putting pressure on local businesses. Independent retailers, service providers, cultural businesses, and small grocery and restaurant operators are particularly affected. Maintaining diverse and vibrant commercial districts requires collaboration between municipal governments, developers, property owners, financial institutions, and business organizations. This project aims to continue building the collaboration we began in Phase 1 (2025-2026), and identify solutions that support both economic viability and community vibrancy.
Phase 1: 2025-2026
Phase 1 focused on gathering insights into how we can best support our local economies and the businesses that allow them to prosper. We undertook the following:
An environmental scan to identify the policies, practices, and tools of municipalities, developers, brokers, and leasing agents, and to gather best practices for promoting commercial affordability in existing and new developments.
- Interview stakeholders in each sector on challenges, opportunities, and potential solutions.
- Develop case studies to showcase successful strategies from different regions and sectors.
- Coordinate multi-stakeholder meetings to brainstorm and identify actionable solutions.
The report for Phase 1 of this project has now been released. READ IT NOW.
Many thanks to our Phase 1 partners!
Phase 2: 2026 - 2027
Phase 2 moves beyond research toward implementation. The initiative will expand engagement with businesses, landlords, developers, municipalities, and financial institutions, identify opportunities for sharing Phase 1 results across all sectors,
develop sector-specific educational materials, work with partners to present case studies at industry events, develop practical tools to connect businesses with amenable commercial owners, support the advancement of policy recommendations, and pilot initiatives to help ensure that commercial spaces remain affordable and accessible to small and local businesses in existing and new buildings.
Planned Activities:
- Identify funding
- Expand engagement with businesses, property owners, developers, and financial institutions to further
understand commercial affordability challenges, and work together to develop solutions - Develop implementation strategies and prioritize which policies to advance
- Identify partners and work with partner communities (e.g. BIAs) to engage stakeholders, present strategies and tools, and work towards siting local businesses in new developments
- Share research findings at meetings, workshops and conferences:
Phase 2 Partners:
- Building Owners and Managers Association of British Columbia (BOMA BC)
- East Village (Hastings North BIA)
- Downtown Surrey Business Improvement Area
- PCI Developments
Contact us to get involved in Phase 2.
Check out the media stories on this project:
- Business in Vancouver: Vancouver Project Takes Aim at B.C.'s Commercial Rent Crisis.
- Future of Good: The Good Landlord: How Collective Commercial Real Estate Strengthens Local Economies.
