Our Affluent Neighbors to the North in Vancouver, BC and to the South in Seattle, WA
A Sizeable Market
Just 17 miles north of I-5/Slater Road (Exit 260) 2.4 million residents reside in the greater Vancouver, B.C. area, the third largest metropolitan area in Canada. As an American city, it would be 22nd in size, larger than San Antonio, Cincinnati, or Pittsburgh. British Columbia’s central statistical agency estimates the region will swell to 3.2 million by 2022. Approximately 80 miles to the south lies the greater Seattle market, with 1.7 million residents in the northern half of the metro area.
These are prime retail customers for the Bellingham/Whatcom County area.
A Wealthy Customer
Vancouver is a populous and growing market, and an affluent one. Average Household income in the defined trade area for Vancouver BC (adjusted for exchange rates) was just over $75,000, while the U.S. household income was $81,800. In addition, British Columbia gets about 55 percent of Canada’s “investor-class” immigrants, people who have a minimum net worth of C$1.6 million, according to an economist of the B.C. Real Estate Association.
The U.S. Attraction
Because of the difference in the Washington State versus British Columbia retail sales tax structure and logistics for cross-border distribution, products are much more expensive in metropolitan Vancouver. In Western Washington, a $27 (USD) pair of Levi 501s will cost over $60 (USD) if purchased in Vancouver. And while a Western Washington quart of milk costs $1.87, stepping over the border into Canada raises the price to $2.73 (10.92/gallon). As a result, a growing number of Vancouver residents often travel via Interstate-5 to Western Washington, where goods and services can be purchased at a fraction of the Canadian price.
The Untapped Potential
The largest single landowner at I-5 Exit 260 is the Lummi Nation, owning more than 160 contiguous acres in the southwest quadrant of the intersection. It is accessible via an off ramp fifteen minutes away from the Canadian border.
This property is immediately adjacent to the freeway and directly north of the Bellingham International Airport, a lower-cost service alternative used by hundreds of Canadians each day.
The Lummi Nation is poised at the perfect crossroads of economic and population growth, retail and business demand, and owns the only large real estate parcel in this area ready for development. Consider joining us in this exciting venture.
For More Information
Please review the following documents for more information: