In a recent article in The Globe and Mail, Frances Bula, examines the new trend of suburban municipalities acting as corporate developers, looking for ways to make money off of the land they hold.
Despite opposition from Michael Geller, a well-known development consultant in Vancouver, who believes ‘cities developing their land with the explicit goal of making money’ is risky; Mr. Jim Cox, who is the head of the development corporation for the City of Surrey, feels it is a smart investment that will encourage further development in Surrey City Centre.
Sean Hodgins, President of Century Group, agrees with Mr. Cox saying, ‘The local government often is one of the larger developers in a region anyway’ and expresses ‘admiration for the city’s can-do approach’. Century Group’s 3 Civic Plaza will be in the center of Surrey’s planned new downtown.
You can read the full article here.