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Transit and employment - Attracting millennials to the suburbs

NRU
Sept. 30, 2015
By Monica Silberberg

The recent population and economic growth in the GTA region has raised several challenges for city planners and land developers. Among them is how suburban municipalities can attract and retain millennials.

The Urban Land Institute recently brought members together to discuss whether Gen Y is buying what the 905 is selling. The conversations explored strategies for attracting and retaining millennials through built form, employment opportunities and partnerships with educational institutions.

Moderator and Altus Group vice-president Lou Iafrate said that millennials are seeking employment with more debt than previous generations and starting families later. Also, they prefer neighbourhoods where they can live, work and play.

City of Markham architect Ronji Borooah noted that millennials only account for 37 per cent of today’s workforce but that will rise to 75 per cent by 2031. He said that both employment opportunities and transit infrastructure are necessary to attract and retain millennials in the 905 area of the GTA. The Markham Centre York University campus will play an important role in the retention of millennials, he said, since they will have the option to go to school locally and then they can find work in Markham after they graduate.

River Oaks Group president Marvin Green agrees. He told participants that he is working with post-secondary institutions in Durham Region to attract businesses to create an urban commercial hub straddling the border between Whitby and Oshawa.

HOOPP senior portfolio manager Lisa Lafave spoke about how building design and healthy work environments are important to millennials, but Lab-B co-founder Harpreet Zingh questioned whether millennials are simply being priced out of the 905.

BuzzBuzzHome president Matthew Slutsky commented that the 905 needs an interconnected transportation system to attract businesses to the region. He added that he keeps his business operating in Toronto in order to stay competitive and would not be able to attract the same talent outside of the city.

Only when there is a better transit system in place will employment grow in the 905, said Slutsky.