Officially Sold Out

As you may have heard, the NEW New West Economic Forum is SOLD OUT! And with all the activity going on in the City, it’s no surprise.

We will be live tweeting from the event, so follow us (@investnewwest1) and use the hashtage #NewNewWest to keep up to date and involved on November 8th.

Until then, here’s a sneak peek of what will be covered at the event…

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• Economic and demographic trends in both New West and the region
• Presentation of new research done by Urban Futures
• Real estate trends in New West and in the region
• The impact of educational institutions on the community and economy
• Health care as an economic driver, and the future expansion of RCH
•  New West business and development success stories
• What the future holds for New West

There will be booths set up by Westminster Savings Credit Union, Avison Young, and Wesgroup. As well as a booth showcasing the Multi Use Civic Facility, hosted by Hughes Condon Marler Architects (HCMA), PCL Construction, Musson Cattell Mackey Partnership (MCM), and Pivotal Projects. 

"Ladies and gentlemen, CHANGE has come to New Westminster."

-Scott McAlpine, President of Douglas College

A few fun facts to honour Small Business Week

(click to enlarge)

We are Proud to Partner With...

The inaugural New West Economic Forum, presented by the City of New Westminster and the New Westminster Chamber of Commerce, is only seven weeks away and 90% of the seats are already sold!

As demand continues to soar, we would like to take a moment to introduce and celebrate our proud partners of this event:


Lunch Partner:

Breakfast Partners:

Table Partners:

            

For more information or to purchase a ticket, please visit www.investnewwest.ca

Not Just a Pretty Price

New Westminster is offering an affordable alternative to Vancouver. With a downtown area, transit, heritage buildings, and great value per dollar, it is tough to say “no”.

Price |

The graph on the right shows the typical housing prices from last month, comparing New West (yellow) to Greater Vancouver (blue). The numbers speak for themselves. 

Value | 

While it is possible to find more inexpensive housing, it is virtually impossible to find it situated to the west of the Fraser, complete with transit, access to amenities, and tied together by a strong community.

Prefer to build?

The competitively priced commercial land in New West is ripe for ROI.  Due to the recent revitalization of the city, land prices are on the rise. In other words, NOW is the time to invest. The plethora of transit oriented land in this 15km² city means there are many areas to build that will not only fetch higher lease rates, but also decrease building costs because fewer parking spots are needed.  

Want more?

New Westminster is hosting an Economic Forum on November 8th, 2012, where speakers, including keynote Bob Rennie, will explore economic and demographic trends in BC and the Lower Mainland. Tickets are already 70% sold, so don't hesitate:

Go to www.investnewwest.ca for more details

Does Heritage Building Revitalization Help or Hinder Economic Development?

The short answer: It helps!

How?

Job creation

The labour component of a building rehabilitation is larger than that of a brand new construction project. This means that, dollar for dollar, rehabilitating historical buildings creates more jobs than new construction does.

Local Business

Heritage buildings are often underused, or run down. Revitalizing these buildings creates opportunities for new and existing businesses to have unique office or retail spaces for their clientele to enjoy.

Attractiveness

Preserving the historical craftsmanship while creating newness gives the community a unique, and appealing identity that draws in businesses, customers, new residents, and talented workers.  Instead of being a district of old buildings to pass through, the revitalized heritage area becomes a destination.

Property Value

Designated heritage properties fetch a higher price and tend to appreciate faster than non-designated properties. Thanks to a halo effect, designated heritage properties aren’t the only ones benefiting from that status; the near neighbours also experience a rise in property value.

The Economic Benefits of Transit

Health 

More transit users means fewer vehicles on the road. This in turn equates to a decreased number of accidents, and of course, better air quality.  Fewer vehicles on the road also alleviates congestion, which we all know isn’t kind to stress levels. Still not convinced that transit is good for your health?

A UBC study, published in The Journal of Public Health Policy, found that “people who take public transit are three times more likely than those who don't to meet the Heart and Stroke Foundation of Canada's suggested daily minimum of physical activity.”

Jobs

The transit industry in Canada employs approximately 45,200 people directly, and provides 24,300 jobs indirectly, and this is only the beginning of the impact of transit on employment. While the transit industry creates jobs, it also creates a means for employees from differing industries to access their jobs.

Money

Across Canada, hospitals save approximately $115m annually because of transit. How is that possible? Transit decreases the necessity for vehicles, and fewer vehicles on the road means better air quality as well as fewer vehicle related accidents. 

That covers public savings, what about personal savings? According to the Canadian Urban Transit Association, Canadian households save approximately $5bn in vehicle operating costs every year (not to mention the increased residential and commercial property values of properties near transit stations). 

Now what?

The answer is simple: Be healthy, wealthy, and wise; invest in a place that has ample access to transit. Invest in New West.

Five Reasons to Invest in New Westminster

ONE | Five Skytrain Stations in Close Proximity

So What?  The labour force is more mobile, which also means fewer cars are on the road (more environmentally friendly). There is currently a lowering dependency on vehicles means a nearby transit stations have become a large factor in home buying as well. Not interested in the residential side? Well, commericial spaces within 500m of a transit station yield higher net rent than those further than 500m ($22.01/sf  vs. $17.01/sf respectively)

Now What? “In the ’70s and ’80s it was location, location,   location. In the ’90s through mid-’2000s, it was timing, timing, timing. And from here forward, it’s transit, transit, transit.” –Bob Rennie, Rennie Marketing.
In New West you are in the right place, at the right time, with the right mode of transportation.

TWO | History

So What?  Re-using historical buildings strengthens the tax base; As John Conicella of Wesgroup commented, “New West has the best collection of heritage buildings in an urban setting in the province”. In other words, the historical buildings in New West are incomparable in BC.

Now What? Revitalizing and re-using the historical buildings offers a unique opportunity to investors and developers in that they can revitalize or enhance a piece of history that is now central not only to an urban city, but to the Lower Mainland itself.

THREE | Centrality

So What? New West is situated at the geographical centre of the Lower Mainland, making it a prime location to live, work, and play. Thanks to this central location, when you choose to venture out, you can be virtually anywhere in the Lower Mainland within 20 minutes.

Now What? Being central means moving supplies is simpler, and travel for employees is simpler (especially when combined with the current transit infrastructure).

FOUR | Community

So What? New West has a uniquely tight-knit community that is highly invested in the well being and future of this city.  

Now What?  While this may seem like a double-edged sword, it is more favourable than detrimental because not only are New West residents passionate, they are intelligent. Consider the community your partner, keep open lines of communication, and they will move mountains for you.

FIVE | Affordability

So What?  In New West you will have an urban setting without the downtown Vancouver price tag. The City has implemented an Affordable Housing Strategy that is drawing in new people and fresh talent. This is good news for local businesses and developers. Competitively priced land with lowered risk.

Now What? New West is on the cusp of great change, so right now is the perfect time to invest.  Maximize your ROI. Invest in New West. 

2012 Show and Shine

Yesterday the 2012 Key West Ford Show and Shine brought thousands of people to closed off Columbia Street, to celebrate custom car culture.

The event featured cars from 1919 Ford Model T’s to brand new supercars. Some of the amazing cars were heavily modified; others were restored to their former glory.

With everything from live music to local vendors, there was something for all ages and all interests.

The fun wasn’t only had by the 4 wheeled crowd, but also the 2 wheeled variety was able to show off their masterpieces. A large motorcycle section with more chrome than you’ve ever seen, and custom paint that would make your hair stand on end.

This is one of the largest and most successful events that New Westminster hosts annually and it not only brings interest to the city, but supports local businesses as well. Even developers came to showcase their upcoming additions to the city.

Did you miss out? Check out the pictures below.

Columbia Street bustling with people, vendors and cars

Throngs of people backdropped with historical buildings, modern skyscrapers, and signs of the future Multi Use Civic Facility

Custom cars on display

The Royal City Swing's beauty

Powerful

Need a break from the life sized vehicles? There was a fantastic RC display as well!

Refreshment stop 

An immaculate Porsche catching some attention

All of Columbia Street was buzzing with excitement!

Giant screen, anyone? 

A Show and Shine award winner

Part of the fantastic motorcycle display

Key West Ford taking care of the masses, one refreshing water bottle at a time

1919 Model T

Supercar (Ford GT)

A piece of ambulance history 

A pristine police car

Welcome to Invest New West

Invest New West is part of the Economic Development Department of the City of New Westminster. 

What is our role? 

We're glad you asked!

The purpose of Invest New West is to encourage sustainable investment and development in New Westminster. By having one on one time with potential or returning investors/developers, supporting existing businesses, and enhancing the local business climate we are forever changing the investment landscape in New Westminster. We will also be hosting an Economic Forum to showcase New West and all it has to offer to those seeking future investment, expansion and location prospects on November 8th, 2012. We have also invited some businesses that have already invested in New Westminster to share their own experiences, stories and opinions on future economic opportunities in the city. 

Are you Interested?  Find out more at www.investnewwest.ca and follow us @investnewwest1