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Vancouver’s Boom Causes Commercial Revival in Victoria
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(Posted on Apr 26, 2016 at 04:49PM by Michelle Bogle)
Located on the edge of Victoria’s downtown core is Upper Fort Street, which, for many years, has been known as “Antique Row.†Home to auction houses and dealers, the area has long been geared towards tourists and antique-shoppers.
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But, that is all changing.Â
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As the cost of commercial and residential real estate in Metro Vancouver continues to skyrocket, cities like Victoria are experiencing a renaissance.
With more Vancouver transplants moving to the area in search of affordable real estate, there is also an increasing demand for more shops, restaurants and other interesting places to visit.Â
With more Vancouver transplants moving to the area in search of affordable real estate, there is also an increasing demand for more shops, restaurants and other interesting places to visit.Â
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As a result, areas like Victoria’s Upper Fort Street are in a state of transition. As new condo developments take shape, like Abstract’s “Black and White†build, and more tech companies set-up shop in the area, new commercial ventures, like restaurants, coffee shops and retail stores, are sprouting up.Â
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Local businesspeople and real estate experts in Victoria are certainly pleased with this trend, as it has brought much vibrancy, quality and variety to the area. As Vancouver’s real estate prices continue to soar, commercial revival in Victoria is expected to continue as well, making the city not only a great place to live, but to also work.
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For more information on commercial real estate opportunities in Vancouver and surrounding areas, please contact our team of advisors for details.
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