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In 20 years, the population of the Regional Municipality of Wood Buffalo will more than double, from 104,000 in 2010 to a projected 231,000 by 2030. That's according to a recent Economic and Development Market Study for City Centre McMurray. It is also estimated that 85 percent of RMWB's population in 2030 will live in the urban service area, which is Fort McMurray, with the remaining residents located in rural areas or project accommodations. It is assumed the population increase will stimulate a diversification of local employment away from the oil and gas sector. Total employment in RMWB could approach 88,300 jobs in 2015 and 162,200 by 2030. Of these totals, the number of non-oil sands related jobs could increase from approximately 25,400 in 2010 (approximately 40% of total employment) to 35,600 in 2015 and to almost 80,000 by 2030 (almost 50% of total employment). Specific employment opportunities associated with such a broadening of the local economy could come in industries as diverse as finance, consulting, legal, real estate, health care, hospitality, information technology, and graphic design. Should such growth occur, City Centre could generate approximately 23,300 office jobs, and require some 5.4 million square feet of office space by 2030, with some 4,400 jobs and 1 million square feet being required by 2015. Planners anticipate that between 25 percent and 40 percent of these new downtown office employees will choose to live within City Centre. In addition to downtown workers, other market segments that are attracted to downtown living include young individuals and couples, empty nesters and others attracted to downtown amenities and people working in the arts and culture community. Based on the growth in downtown employment and other market forces, City Centre would house 20 percent of the municipalities population, around 48,000 people, by 2030. That would be more than four times the number of people currently calling City Centre home.It goes without saying that meeting the need for City Centre housing will require the construction of more apartments and other rental housing in Fort McMurray. The population growth could command the development of about 17,800 residential units City Centre by 2030, with an estimated 2,700 units needed by 2015. The report states that, based on average unit sizes of 600 square feet, the resulting demand for residential space could range from 2.1 million square feet between 2011 and 2015, and to upwards of 14.0 million square feet of residential space by 2030. It isn't just the need for additional housing that will be needed in City Centre. The demand for retail space needed within Fort McMurray and City Centre is similarly expected to grow. It is estimated that total retail requirements within Fort McMurray could increase from its current 3 million square feet to nearly 6 million square feet by 2015 and to almost 11.3 million square feet by 2030. Articles focused on providing useful information on lifestyle, employment, industry and accommodations in Fort McMurray.
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Housing, Fort McMurray Housing, Fort McMurray Real Estate, Fort McMurray Apartments,
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