Commercial Drive

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Commercial Drive

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Commercial Drive BIA

thedrive.ca/
604.251.2884
executivedirector@thedrive.ca
1726 Commercial Drive Vancouver, British Columbia V5N 4A

Neighbourhood Overview

Well known for its Italian heritage, Commercial Drive is a culturally-rich hive of activity with theatre, music, dinner, dancing, festivals and nightlife.

The Drive is located in the heart of the Grandview neighbourhood, with the market area encompassing Nanaimo Street (east), East Broadway (south), Clark Drive (west) and Powell/Wall Streets (north). It is easily accessible by SkyTrain on both the Expo and Millennium Lines.

The neighbourhood is an attractive one for families with younger children, but it’s also hugely popular with students and younger workers in the creative and service industries.

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30-34

Years

Dominant Age Group
of Residents

28529

Residents

Population
in 2016

82.6%

English

Dominant Language

30-50$

Per sq. ft.

Average
Lease Rate

People
Place
Doing Business Here

Population by Age

A total of 28,529 residents live in the Commercial Drive catchment area. A fast-growing neighbourhood, it has seen population growth of 9.4%, nearly double Vancouver (4.6%) and Metro Vancouver (6.5%). The dominant age group is 30-34.

Language & Ethnic Origin

English is the dominant language spoken in the home by Commercial Drive area residents (82.6%); this is significantly higher than Vancouver (66.4%) and Metro Vancouver (66.5%). 80% of residents reported Western European heritage.

Family Structure

Reflecting the younger demographic that live here, only 47% of Commercial Drive households are comprised of families. This is much lower than Vancouver (57%) and Metro Vancouver (71%). The average number of persons per household is 2.0.

Education & Occupation

The most common education level attained by Commercial Drive residents is tied between high school certificate (23%) and Bachelor’s degree (23%). In total, 41% of residents have some university education, which is slightly below the city (43%) but higher than the region (34%).

Income & Spending

The most common household income for Commercial Drive residents is $50,000 to $59,999 per year. This is substantially lower than Vancouver and Metro Vancouver (both $100,000 to $124,999). As a result, the average annual expenditure per household ($65,675) is lower than the city ($84,710) and region ($87,106).

Zoning

The Drive can accommodate most business types thanks to six separate zoning designations. 100% of the floor space in the BIA is licensed for commercial use.

Housing

Most Commercial Drive area residents are renters (64%) as compared to Vancouver (53%) and Metro Vancouver (36%). Apartments are the dominant type of housing (85%), slightly higher than Vancouver (80%) and much higher than Metro Vancouver (58%).

Community

The Drive is home to one of Vancouver's largest transit hubs, Commercial-Broadway SkyTrain Station. For outdoor sports and recreation, Trout Lake is a popular destination.

Business Mix

Commercial Drive BIA is home to 497 businesses, an increase of 8% from 2011-2016. Retail, accommodation & food service, and health care & social assistance businesses comprise 82% of all businesses within the BIA. This is significantly higher than Vancouver (40%) and Metro Vancouver (27%).

Commercial Business Size

A strong home for small business, 57% of all businesses in the BIA are classified as “micro businesses” with fewer than five employees. 36% of businesses have 5-20 employees, while 7% have 21-50 employees.

Opportunities

Commercial Drive’s proximity to the downtown core and access to major transit lines is reflected in mid-range lease rates for local businesses. These fall anywhere between $30 and $50 per sq. ft.