Quote:
Originally Posted by Vin
See what I said back before WarrenC12 budged in and brought in something totally unrelated in his argument? You guys should learn how to read first before boosting up all the zest to prove me wrong time and again, but unfortunately without any merit.
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You've offered no evidence to support you belief that 'hollowing out' of Downtown in the BIV article meant residents, not businesses. I suggested they meant businesses, and here's
another BIV article to suggest that's the case "
Foot traffic in downtown Vancouver is down 79.4 per cent as of January 31, 2022, compared with March 2, 2020, according to a “vitality index” curated by Avison Young. The index, which uses anonymized cellphone location data to measure foot traffic, is tracking North America’s biggest urban centres in a bid to measure the pace of return to downtown cores.
And so far 29 street-level businesses have closed on Granville Street since 2020, according to Nolan Marshall III, CEO of the Downtown Vancouver Business Improvement Association."
As you requested up-to-date numbers to show you're wrong, CMHC have obligingly last week published detailed tables of rental data for Vancouver, where they show the rental vacancy rates 16 months ago, and 4 months ago - so last year's change. Really up-to-date data, and for Downtown - not just the whole of Metro Vancouver. (Even
BIV covered it).
In October 2020 there were 11,770 purpose-built rental units in Downtown Vancouver. The vacancy rate at that time was 6.3%, so that's about 742 empty rental apartments. In their West End area there were 10,539 units, and their vacancy rate was lower, 1.5%, so about 153 were vacant.
In October 2021 there were 11,827 purpose-built rental units Downtown and the vacancy rate had fallen to 1.9%, so that's only 225 empty rental apartments. In their West End area there were 10,626 units, and the vacancy rate fell to 1.2%, so about 131 were vacant.
So between October 2020 and October 2021 there were 517 more rented apartments Downtown, and 22 more in the West End. I'll let you decide how many people occupy the average Downtown rental building, but it's more than 1, so there were several hundred more people living Downtown at the end of 2021 than a year earlier.
How is that hollowing out?