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QEW Central Corridor ‘Securing our Prosperity” Council Workshop.

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Presentation on theme: "QEW Central Corridor ‘Securing our Prosperity” Council Workshop."— Presentation transcript:

1 QEW Central Corridor ‘Securing our Prosperity” Council Workshop

2 Agenda The Catalyst – Why Are We Doing This? QEW Central Corridor – North Service Road Summary Opportunities/Challenges North Service Road Market – Hopewell Site Next Steps

3 Declining Revenues Increasing Costs Slow Population Growth Utilize current capital investments (all government levels) Why are we doing this….

4 BEDC’s Strategy

5 Employment Land Vision Ensure employment lands are critical to the economic and social viability of the city 100% Shovel and Market Ready Positioned as a place where businesses want to stay and expand, and new businesses want to locate Developed more intensively - greater land use efficiency Move up the economic value chain – better quality of jobs Reflect principles of sustainability

6 BEDC’s Economic Growth Objectives Financial: Grow the city’s non residential tax levy revenues by 2% per year A 60% increase in job growth from current targets by 2031 Social: Growth in high quality jobs from 41% to 60% within 20 years 50% of all new jobs are occupied by Burlington residents An accelerated employment density target from 41 jobs/hectare to approximately 59 jobs/hectare Environmental: Healthy community Preservation of the rural area Reduction in the city’s carbon footprint

7 5 Strategic Employment Districts

8 QEW Central Corridor - North Service Road Market

9 Growth Opportunity Focus on the office sector including; head office, professional, sales offices, scientific and technical services as well as the institutional market. An opportunity to seek creative re-development solutions for underutilized lands. BEDC has identified development and/or intensification opportunities. which accounts for approximately 57 hectares (40 vacant hectares) or 14% of the total vacant employment land inventory When developed these lands have the potential to produce approximately 231,000 square metres of built space of which 42% includes office space by 2031.

10 QEW Central Corridor - North Service Road Market Improvements Required Access to the North Service Road from the QEW at Walker's Line poses traffic concerns as development increases. There is concern that volumes will spill over on to the QEW or create additional congestion on Walker's Line. North Service Road will require expansion to a 3 lane road; this work is already noted in the city’s capital plan. A long-term transportation solution is required in order to attract and secure employment land growth in this area.

11 QEW Central Corridor - North Service Road Market Summary North Service Road Summary QEW Central Corridor – North Service Road Market Net Hectares Identified57 Estimated m2 Growth Estimated Additional m2 Growth231,115 %of Growth Target (Employment Lands)5% Estimated Additional Annual Tax Revenue(City, Region, School)($7,229,800) Estimated Total Development Charges($36,020,900) Estimated New Jobs (Employment) 6,020.0 % of Accelerated Growth Target (Employment Lands)25% Risk Assessment Business AttractionLow Ability to Realize Growth TargetsMedium Ability to Realize Target Return on InvestmentMedium Decision Making Criteria CommunityStrong Alignment City ObjectivesStrong Alignment Ability to ImplementSomewhat Easy

12 North Service Road Market – Hopewell Site Summary Located at 3455 North Service Rd. 9.84 hectares Supported various industrial North of the property is the CN Rail line and industrial development Brownfield site 1955 to 1994 by Butler Manufacturing/Canadian Building Systems to manufacture steel structures Site has been vacant for over 15+ years Property is zoned “BC1” under Zoning By-law 2020

13 North Service Road Market – IKEA Summary IKEA has had a retail presence in Burlington for over 20 years Its Canadian corporate head office and furniture store at the property located at 1065 Plains Road East IKEA has also leased additional space on King Road which is used as overflow warehousing

14 North Service Road Market – IKEA Summary Pending all applicable approvals, construction is tentatively scheduled to begin in 2013 3-storey building with a building footprint of approximately 26,000 m2; a total gross floor area of 41,000 m2 and 1,328 surface parking spaces Third storey is proposed as a partial storey intended for office use only.

15 North Service Road Market – IKEA Summary Currently, 484 people are employed at IKEA (Plains Road East and King Road). 21% of their workforce work in a head office function 41% of their staff live in Burlington. 90 total net employment Total of 570 employees 22% of their workforce working in a head office function 15% increase is in their retail division

16 North Service Road Market – IKEA Summary Widening of the Walker's Line/North Service Road intersection to accommodate dual northbound left turn lanes in addition to a widening of the North Service Road from Walker's Line to the proposed IKEA site from two to four lanes. MTO have agreed, in principle, to allow the IKEA development to proceed, however, a long-term solution is required beyond 2021. MTO approval is subject to the following: MTO and the city come to an agreement on the long-term solution for the 2021 projected traffic flows. MTO and the city agree on a trigger condition at which point the long- term solution requires implementation (actual date of implementation may be before or after 2021). MTO and the city agree on a cost sharing formula for the long-term solution.

17 City Investment Required The city is required to take a more direct and proactive approach in this area in order to encourage the appropriate level of development 3455 North Service Road site poses some interesting transportation challenges Improvements will be required to the North Service Road / Walker's Line intersection Region and the MTO have acknowledged this bottleneck in traffic flow and have openly discussed solutions with the city An agreement between the city, MTO, the Region, Hopewell and IKEA with respect to cost sharing

18 Considerations and Risks Business Attraction Ability to Realize Growth Targets Ability to Realize the Targeted ROI

19 Next Steps Council approval for the Area Strategies Finalize the Planning review of the Hopewell/IKEA site Continued discussions with the Region and MTO

20 Questions

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