Vancouver city council’s planning and environment committee will get a report July 28 that estimates separated bike lanes have had a $2.4 million cumulative impact on businesses along Dunsmuir and Hornby streets.
That translates into “an approximate profit loss of $480,000 over a full year,” according to the report.
The Vancouver Economic Development Commission (VEDC) conducted the study in partnership with the City of Vancouver, the Downtown Vancouver Association (DVA), the Downtown Vancouver Business Improvement Association (DVBIA) and the Vancouver Board of Trade (VBOT).
The study called the economic impact of the bike lanes on nearby businesses “moderate,” in the context of economic trends throughout the province that, it noted, have widely impacted sales and profits.
These trends include:
- the international economic downturn;
- higher parking rates due to the introduction of HST;
- the fuel tax increase; and
- stricter impaired driving rules.
Many business owners who have stores along streets with separated bike lanes have been urging Non-Partisan Association mayoral candidate Suzanne Anton to suggest significant changes to the way the lane are aligned. (See: “Business concerned by NPA policy void” – issue 1132; July 5-11.)
Glen Korstrom
Twitter: GlenKorstrom