Is Oakridge Vancouver's New Downtown?

A Municipal Town Centre Is Born

In July 2011, the Oakridge commercial area, home to the Oakridge Centre mall since 1959, was officially designated as a municipal town centre by the City of Vancouver. The first of its kind in Metro Vancouver, placing it in a category similar to Brentwood Town Centre in Burnaby or City Centre in Surrey.

The designation flagged Oakridge to serve as a primary focal point for residential development, commercial activity, and transit infrastructure on Vancouver's south side.

The Zoning Shift

In 2014, the area was rezoned to allow high-rise towers and major civic amenities. Oakridge went from a suburban shopping mall neighbourhood to what many now call Vancouver's second downtown.

The rezoning enabled:

• •Residential towers up to 44 storeys
• •Over 3,300 new homes including condos, townhomes, and rental apartments
• •A large community centre with a 50-metre swimming pool, ice rink, and fitness centre
• •A branch library
• •A 9-acre public rooftop park, larger than two football fields
• •560,000 square feet of retail space with globally branded luxury outlets

Nothing of this scale had ever been attempted on a single site outside of downtown Vancouver.

2026: Construction Becomes Reality

Oakridge Park is scheduled to begin opening this year. After years of construction that has tested the patience of everyone living in the area, the first residents are moving in, retail spaces are being fitted out, and the rooftop park is taking shape.

The globally branded luxury retail, the community amenities, and the direct connection to the Oakridge–41st Avenue Canada Line station position Oakridge Park to rival downtown Vancouver as a destination for living, shopping, and recreation.

Downtown Light

Calling Oakridge Vancouver's "new downtown" comes with a qualifier. It is better understood as a downtown-light, a secondary urban centre designed to take pressure off the main downtown core.

Vancouver needs this. The city's population continues to grow, the downtown peninsula has physical constraints, and the demand for urban amenities, housing, and commercial space exceeds what a single centre can provide. Oakridge sits in the geographic centre of the city, directly on the Canada Line, and is positioned to absorb some of that demand.

The development will shift population density meaningfully in and around the area, creating a genuine urban node that functions independently from downtown while remaining connected to it by a 15-minute SkyTrain ride.

The Reality for Current Residents

The new downtown feel will take several years to fully materialise. Residents around the area will continue living alongside construction work that has defined the neighbourhood since 2019.

Worth acknowledging honestly: if you are buying in Oakridge today, you are buying into a vision that is partially complete. The inconvenience of ongoing construction is real. But the trajectory is clear, and for patient buyers, the opportunity is significant.

The homes being purchased today will be surrounded by a fully realised urban centre within the next two to three years. The community centre, the park, the retail, the restaurants; all of it is coming. And pricing today still reflects the construction disruption, which means there is value to be captured for those willing to look past the short-term noise.

What This Means for Buyers, Sellers, and Investors

For buyers: Oakridge is one of the most compelling long-term bets in Vancouver real estate. You are buying into a neighbourhood that is being purpose-built as an urban centre. The amenities, transit access, and density will support property values for decades.

For sellers: If you own property near Oakridge, your asset is likely worth more than you think, and will be worth more as each phase of Oakridge Park completes. The question is timing: sell now and capture the current premium, or hold and ride the appreciation as the development fully opens.

For investors: Rental demand in the Oakridge area is exceptionally strong and will only grow as the community centre, park, and retail come online. Transit-oriented, amenity-rich locations are where Vancouver's rental market is heading.

So, Is Oakridge Vancouver's New Downtown?

Not quite. But it is becoming Vancouver's most important secondary urban centre. For anyone buying, selling, or investing on the south side, Oakridge is the single most important development to understand.

I live and work in this area. I watch the construction progress every week. If you want a ground-level assessment of what Oakridge means for your real estate plans, reach out.