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Vaughan Healthcare Centre Precinct Feasibility Study

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Vaughan Healthcare Centre Precinct Feasibility Study VAUGHAN HEALTHCARE CENTRE PRECINCT Existing Conditions Assessment Vaughan, Ontario Prepared for the City of Vaughan, Mackenzie Health, York University & ventureLAB June 23, 2020 This document is available in alternative formats upon request by contacting: [email protected] 416-351-8585 (1-800-505-8755) June 23, 2020 Ms. Shirley Kam Manager of Special Projects and Economic Development Economic and Cultural Development City of Vaughan 2141 Major Mackenzie Drive Vaughan, Ontario L6A 1T1 Dear Shirley: RE: Vaughan Healthcare Centre Precinct – Existing Conditions Assessment (Vaughan, Ontario) urbanMetrics inc. (“urbanMetrics”, “uMi”) in cooperation with our project partners for this assignment—LURA Consulting (“LURA”), Sajecki Planning (“Sajecki”) and StrategyCorp (“SC”)—is pleased to submit our preliminary assessment of the opportunities for economic development within the Vaughan Healthcare Centre Precinct (“VHCP”). The primary purpose of this Existing Conditions Assessment has been to gain a better understanding as to the underlying locational considerations, as well as broader market, economic and policy trends that may ultimately influence the future build out and underlying development strategy for the VHCP lands. This reporting also provides a summary of our initial case study research, including an overview of current best practices with respect to the establishment of new hubs of economic activity with a particular focus on the intersection of the healthcare, education and innovation sectors. We hope that the client group for this assignment—comprised of the City of Vaughan, Mackenzie Health, York University and ventureLAB—find this information helpful as we continue to explore the potential direction(s) for development at this exciting and strategic site. Yours truly, urbanMetrics Christopher White, PLE Associate Partner [email protected] www.urbanMetrics.ca | 67 Yonge Street, Suite 804, Toronto, ON, M5E 1J8 | 416-351-8585 (1-800-505-8755) | [email protected] Contents 1.0 Introduction .......................................................................................................................... 1 1.1 Background ................................................................................................................................. 2 1.2 Purpose ....................................................................................................................................... 3 1.3 Scope .......................................................................................................................................... 4 1.4 VHCP Lands ................................................................................................................................. 5 2.0 Local Context ........................................................................................................................ 7 Key Findings .......................................................................................................................................... 8 2.1 Site Context ................................................................................................................................ 8 2.2 Land Use Planning Policy Context ............................................................................................ 20 2.3 Community Profile.................................................................................................................... 22 3.0 Economic Conditions ........................................................................................................... 30 Key Findings ........................................................................................................................................ 31 3.1 Economic Structure .................................................................................................................. 31 3.2 Economic Development Context .............................................................................................. 37 4.0 Market Conditions .............................................................................................................. 40 Key Findings ........................................................................................................................................ 41 4.1 Development Trends ................................................................................................................ 41 4.2 Real Estate Market Trends ....................................................................................................... 45 5.0 Best Practices ...................................................................................................................... 47 Key Findings ........................................................................................................................................ 48 5.1 Existing Patterns ....................................................................................................................... 48 5.2 Innovation District Criteria ....................................................................................................... 58 5.3 Global Best Practices ................................................................................................................ 62 5.4 Key Themes .............................................................................................................................. 65 6.0 SWOT ................................................................................................................................. 73 Strengths ............................................................................................................................................. 74 Weaknesses ......................................................................................................................................... 75 Opportunities ...................................................................................................................................... 75 Threats ................................................................................................................................................ 76 Appendix A Planning Context Memo Appendix B Municipal Strategic Documents: Economic & Employment Research Appendix C Real Estate Market Research Appendix D Best Practices Research Figures Figure 1-1: Map of VHCP Lands ................................................................................................................. 6 Figure 2-1: Healthcare Centre Precinct Land Use Plan ............................................................................. 9 Figure 2-2: Site Location ......................................................................................................................... 10 Figure 2-3: Surrounding Context ............................................................................................................. 12 Figure 2-4: Current and Future Viva Routes ........................................................................................... 13 Figure 2-5: Future Transit Hub Adjacent to VHCP .................................................................................. 14 Figure 2-6: 6.5 km Radius from Vaughan Metropolitan Centre Subway Station ................................... 17 Figure 2-7: Urban Structure within 6.5km Radius from VMC ................................................................. 18 Figure 2-8: Population Growth in Select Geographies (2001 – 2016) .................................................... 22 Figure 2-9: Vaughan Current and Forecasted Population ...................................................................... 23 Figure 2-10: Age Profile ........................................................................................................................... 24 Figure 2-11: Household Income Profile .................................................................................................. 25 Figure 2-12: Visible Minority Population in Vaughan, 2016 ................................................................... 26 Figure 2-13: Immigration by Period ........................................................................................................ 26 Figure 2-14: Five Highest-Reported Ethnicities in Vaughan ................................................................... 27 Figure 2-15: Net Commuting Flows between Vaughan and Select Municipalities (2016) ..................... 28 Figure 2-16: Highest Educational Attainment ......................................................................................... 29 Figure 2-17: Residents with Post-Secondary by Field ............................................................................. 29 Figure 3-1: 2018 Employment Composition in Vaughan, by NAICS Category ........................................ 32 Figure 3-2: Percentage of Local Employment Change by NAICS Category, 2009-2018 ......................... 33 Figure 3-3: Employment Change in Vaughan by NAICS, 2006 - 2016 ..................................................... 35 Figure 3-4: Proportion of Businesses in York Region, Vaughan and Markham (2018)........................... 36 Figure 3-5: Business Counts, 2018 .......................................................................................................... 37 Figure 4-1: VMC Study Area Boundary ................................................................................................... 43 Figure 5-1: Supporting Use Types Present Near Comparable
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