Gen Y: Trading Space for Location

VANCOUVER, B.C.—On day two of the ULI Spring conference event here in Vancouver, one of the morning’s concurrent panels discussed which demographic trends have successfully informed and increased the value of the panelist’s business strategies. According to panelist Matt Griffin, managing partner, Pine Street Group LLC, “walkability and access to mass transit is everything.”

To panelist Jon Stovel, president, Reliance Properties, key trends for the Gen Y crowd are micro lofts and incubator offices. “There is a double demand on urbanism. Baby boomers are seeking to preserve capital by going back into the urban core,” he said. “The Gen Y people haven’t got their parent’s money yet and they have to live with less and they are making interesting decisions on how to stay in the city as well.”