Mount Pleasant – A Bustling Tech Hub
Fifth by Cressey, located in the Mount Pleasant neighbourhood of Vancouver, was recently featured in the property report section of the Globe and Mail. With Mount Pleasant emerging as Vancouver’s leading tech hub, the article highlights the increased demand for tech-suited office space in the area.
Hani Lammam, executive vice-president at Cressey, explains that despite growing demand in the area, limited space and high land values have created a competitive landscape, leaving Tech companies vying for available space.
“What seems to happen a lot is that these larger tenants come into the marketplace, and their first choice is the Mount Pleasant area, but there aren’t big enough chunks of space to meet their requirements. And these requirements are typically in excess of 100,000 square feet, and those spaces just do not exist.”
Despite these challenges, developers and city planners are working together to accommodate the increased interest in the area.
“There has been a concerted effort by the city to really develop so-called innovation economies around the city. And Mount Pleasant has some pretty pointed attention.” – David Nicolay, designer at Evoke.
To read the full article, please click here.