The City of Vancouver and the University of British Columbia today released a KPMG study that shows the employment and population of the UBC/Broadway corridor will grow by 150,000 in the next 30 years and a rail-based rapid transit system is needed to meet the corridor’s population growth and significant economic potential.
“The economic potential of the UBC/Broadway corridor is tremendous,” Mayor Gregor Robertson said. “The health care, technology and life science sectors, combined with UBC’s research enterprise, set the stage for significant growth. We need a subway rapid transit system that will allow us to compete with tech hubs like Toronto and New York City and unleash the additional economic and investment potential along the corridor.”
The UBC/Broadway corridor, which runs from Commercial Drive to UBC’s Point Grey campus, is B.C.’s second largest business and innovation area and North America’s busiest bus route. More than 200,000 people currently live and work in the area and 50 per cent of the corridor transit riders currently come from beyond Vancouver.