Cloverdale is at a crossroads. This isn’t new, considering that its founding in 1891 as Surrey’s first town was due almost entirely to its strategic position.
Back then, it was due to construction of Surrey’s first railway, the New Westminster Southern, which brought predictable scheduled transportation to Surrey for the first time. Many Surrey residents lived on farms within a reasonable distance of Cloverdale. The fact that the location of the new town was also on the east-west McLellan Road meant that the new community that had nowhere to go but up.
As 2017 begins, 125 years after Cloverdale began, this same logic prevails. Cloverdale remains on major transportation routes – Highway 10, Highway 15 and two railways. All are far busier than the original 1891 routes were. It is located in one of the fastest-growing areas of B.C., and is one of the few places in Metro Vancouver where there is still a reasonable supply of developable residential land.
Cloverdale is close to the U.S. border, close to the Vancouver Airport and the Tsawwassen ferry terminal, close to Highway 1 and Highway 17 and in reasonable proximity to many other parts of Metro Vancouver. Surrey itself is the SkyTrain line terminus, and some sort of rapid transit will likely reach the general Cloverdale area (most likely along Fraser Highway) within a decade.
For the past 15 years or so, much of Cloverdale’s economic activity has been based on residential construction. The area has grown tremendously, with former farms and rural areas converted to housing. One of the most striking and obvious changes has been on the upland portion of the former Bose farm on 64 Avenue – now home to hundreds of townhouses and detached homes.
There are still a few developable pieces of property close to the town centre, but most of the growth in the Cloverdale area will take place in Clayton. The East Clayton area has grown dramatically and is almost totally built out, but the city has now adopted a neighbourhood plan for West Clayton.
The construction of Salish Secondary on 184 Street is a significant sign of things to come in that area. When it opens in September, it will take significant pressure off Lord Tweedsmuir and Clayton Heights secondaries. Perhaps more importantly, it will be the first large redevelopment in an area which is likely to become home to thousands of new residents in the next decade.
Residential construction will be one of the most closely-watched sectors of the economy in 2017, in Surrey, B.C. and Canada. Tighter mortgage rules, potential higher interest rates, high housing prices and a decline in sales in the latter part of 2016 are not ringing alarm bells, but they are indicators that housing may not be quite as robust in 2017 as it has been in recent years.
If there is a significant housing slowdown, it will mean a slowdown in other forms of economic development as well. However, given that the Metro Vancouver area continues to be one of the most desirable residential areas in Canada, it is most likely that any slowdown will be modest, not severe.
What effect will this have on Cloverdale’s economy? It will be significant of course. Many more new residents means new business opportunities, and more recreation, education and transportation infrastructure. As noted, it will likely lead to some sort of rapid transit along Fraser Highway, already one of Surrey’s busiest transit corridors.
Other economic opportunities also beckon. The redevelopment of the former Cloverdale Mall property has started, with construction of The Bristol residential complex well underway. The Cloverdale Fairgrounds remain an under-utilized gold mine of potential, one the city has been of different minds about over the years. Cloverdale’s business community continues to work hard at promoting the town centre, with highly-successful events like the recent Christmas parade proving that Cloverdale can attract a crowd.
Retail development is mostly in place, with few major retail complexes likely to be built in the future, given the existing development and other shopping areas nearby, notable in Langley. However, there are many opportunities for new businesses to come into Cloverdale as the retail marketplace continually changes and evolves.
The year 2017 will be one of growth and change in Cloverdale, and the community will be different when the year comes to a conclusion.
