Economic Benefits

Real estate developments today almost always bring a variety of benefits to the community as a result of their construction. These can generally be divided into two categories: community benefits and economic benefits. Today, we outline some of the economic benefits associated with the development of Harbourside.  

Public Infrastructure

Through Harbourside’s development, Concert will invest in infrastructure and related public realm improvements to the area. Included in this category would be road works, on and off-site traffic and transportation improvements (see “Traffic concerns at Harbourside”), and the implementation of an innovative flood management strategy.

Job Creation

During Harbourside’s construction, over 4,500 person-years of construction employment would be created over the project’s 10 to 15 year build-out period. Once complete, Harbourside will bring over 1,500 additional full-time jobs to North Vancouver through the new commercial and retail spaces.

Tax Revenue

Once complete, Harbourisde would increase the City’s annual property taxes by an estimated $2.3 million. This money will be spent by the City in accordance with their existing policy for property tax spending (click here for more information).