City nets NAIOP award

An 18 per cent drop in overall development costs helps Langley City win award

The City of Langley has received a Municipal Excellence Award from the NAIOP Commercial Real Estate Development Association (Vancouver Chapter) for excelling in creating an environment that cultivates business creation.

They received the award last month.

Voted a winner in the “Most Improved” category, the City of Langley was honoured as a result of its recent rankings in NAIOP Vancouver’s 14th annual Regional Industrial Development Cost Survey. Since the association’s last survey results in 2011, the city recorded an 18 per cent drop in overall development costs.

“We are thrilled to be recognized for our commitment to the positive growth of our city and, in doing so, further enhancing the livability of our community for all citizens,” said acting Mayor Ted Schaffer. “It’s a great honour and I’d like to thank our council and staff for their dedication and hard work.”

The survey, which was distributed to 20 Lower Mainland municipalities, requires each municipality to identify the costs and processing times associated with the parameters of a case study. For 2013, the development project was, as per previous surveys, the construction of a two-storey, 100,000-square-foot industrial warehouse distribution building on 5.5 acres of land requiring both subdivision and rezoning.

“From supporting jobs creation, to building a robust business community and helping to enhance quality of life, we recognize the incredibly important role the development industry plays in our community,” said Schaffer.

“We have focused on relationship building and creating an internal framework that addresses the development industry’s cost and other challenges. As a result, we have streamlined our processes to make it easier and more attractive for developers to work within our community.”

NAIOP Vancouver represents commercial real estate developers, owners and investors of office, industrial, retail and mixed-use properties. It provides strong advocacy, education and business opportunities and connects its members through a powerful North American network. Based on the survey results, NAIOP Vancouver published its 14th annual “Municipal Report Card” in Business In Vancouver on October 15. The report focuses on the industrial market and, through detailed analysis, compares the performance of 20 municipalities on a number of dimensions.

To view NAIOP Vancouver’s 14th annual Regional Industrial Development Cost Survey and a complete list of winners, click here or visit www.naiopvcr.com.

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