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By Veronica Beltran

downtown vacancy

Downtown vacancy rates remain low despite pandemic

Sep 23, 2020 | 5:00 AM

PRINCE GEORGE—Prince George’s downtown vacancy rate has increased, but only slightly from an eight year low back in 2018.

Despite effects from the COVID-19 pandemic 2020’s downtown vacancy rate remained almost the same as 2019’s.

The City’s downtown has seen 28 new business license applications and 16 development permit applications—an increase from the study completed in 2019 which showed 13 development permits and 24 new business licenses.

Commercial high-rise buildings reported a 5.1 per cent vacancy rate in 2020, close to a 50 per cent decrease from 2019. Data shows that high-rise vacancies have been on a steady decline since peaking in 2014.

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The City of Prince George has been conducting annual surveys of downtown buildings since 1983, and examines key aspects of occupancy in the city’s downtown including floor area available to retail/service and office use, vacant and leasable space, and commercial high-rise vacancy.