There has been speculation for quite some time now about where exactly the entrance is for the Arbutus Station.
The western terminus station, Arbutus Station, of the underground extension of SkyTrain’s Millennium Line will be Broadway & Arbutus Street.
The open plaza space adjacent to Arbutus Greenway and BC Liquor Store was originally intended to be reserved space for the subway. This spot may no longer be the intended site for the primary Arbutus Station entrance. Instead, the entrance to the Arbutus station is said to be the Rogers building. The Broadway Extension project is currently slated to terminate at Arbutus Street. The remaining route to UBC will become a future second phase. This station will be handling the large volumes of passengers transferring between the train and the remaining 99 B-Line bus journey westward. The Rogers building is an area that can handle a large amount of foot traffic.
According to TransLink, the 99 B-Line currently sees about 57,000 boardings per weekday. 51% disembark at stops west of Arbutus Street. Alma Street is recorded to taking on 6%. Sasamat Street at 1%, and UBC at 44%.
Arbutus Station could, see about 30,000 boardings per weekday from just the 99 B-Line alone. This is based on current ridership levels. These numbers are quite high and are why this station needs to be able to accommodate a large amount of foot traffic. These numbers are forecasted until the final extension to UBC is complete. The passenger volumes this station may experience could make it one of the busiest stations on the entire SkyTrain system.
How does this impact Real Estate
Considering the increase in foot traffic, and the accessibility to UBC and to downtown, the introduction of this line may drive home prices up. This is another amenity to add to the list available if you live at this location. This may increase the appeal, and increase the demand for purchasing homes in this area. Or will the changes and regulations that the government have implemented stand strong and continue to drive prices and action down?
As always, stay tuned to find out, and up to date the with most current Vancouver Real Estate Information.
For further information about all things Real Estate contact Vancouver’s Top Realtor Leo Wilk