I am pleased to announce the off-market sale of Main Gate, a 5-storey boutique office building steps from Granville Island. The property at 1505 West 2nd Avenue was acquired by Commonwealth Management Ltd.

The building is one of the more distinctive office assets on Vancouver’s Westside — a 45,000 SF concrete structure built in 1990 on a 20,000 SF freehold waterfront lot along the Seawall. The building is anchored by the Pacific Institute of Culinary Arts and its Blue Hat Café at grade, with upper floors of office space arranged around a bright central atrium. The property includes 82 secured underground parking stalls and sweeping views over Granville Island, False Creek, and the city.

The transaction was completed off-market and structured as a share sale. This marks only the fifth office building purchased by an investor in Metro Vancouver in 2025, reflecting continued caution among buyers toward the asset class. For well-located, physically distinctive office assets with a clear value-add story, buyer appetite does exist — the challenge is finding assets that meet the bar.

DETAILS:

• Sale structure: Share sale (price not disclosed)
• Building size: 45,000 SF
• Lot size: 20,000 SF
• Asset type: Office
• Year built: 1990
• Parking: 82 secured underground stalls

The sale was brokered by David Taylor of Colliers International.

There are a whopping fifteen rezoning applications going to City of Vancouver Council next week, spanning neighbourhoods from Downtown to the Fraser River waterfront. Here’s a rundown of what’s being considered:

2806–2890 East Broadway, 2813–2881 East 10th Avenue & 2528–2580 Kaslo Street

Applicant: Sightline Properties

A 26-lot land assembly just north of Renfrew SkyTrain Station is proposed for four mixed-use towers ranging from 39 to 45 storeys, totalling 1,959 units (1,386 strata and 573 rental, with 20% of rental floor area at below-market rates), plus ground-floor retail and a 73-space private childcare facility. Density is 10.5 FSR. Application prepared by Arcadis.

282 West 49th Avenue – Revision of Approval in Principle

Applicant: Musqueam Capital Corporation / YMCA

A minor revision to a previously approved mixed-use redevelopment of the Langara Family YMCA site, increasing total floor area to 54,300 sq. m and raising building heights by 1–2 m to accommodate design refinements. The project includes a 33-storey rental tower (306 units), a 37-storey strata tower (291 units), and an 8-storey building with 88 social housing units and a replacement YMCA community centre, at an overall FSR of 6.71.

8080 Yukon Street – Revision of Approval in Principle

Applicant: Purpose Driven Development (on behalf of Kiwanis-Soroptimist Senior Citizens Housing Society)

A minor revision to a February 2026–approved social housing project in Marpole, increasing the height of one 6-storey seniors building from 23 m to 25.3 m to accommodate new building technology. The broader project totals 903 social housing units across four buildings of up to 32 storeys, with no change to the overall floor area of 58,190 sq. m.

6212–6218 Ash Street

Applicant: 1279398 B.C. Ltd.

A proposed 6-storey mixed-use building with 30 rental units (20% below-market) and a 37-space private childcare on the ground floor, located one block from Langara–49th Avenue Station. The application increases density from 1.2 to 3.4 FSR, with a building height of 23 m.

3202–3270 Riverwalk Avenue (Parcel 11) – East Fraser Lands

Applicant: Wesgroup

An amendment to the CD-1 (499) by-law for Parcel 11 in the River District, increasing permitted height from 12 to 15 storeys (37.5 m to 48 m) to allow above-grade structured parking in response to high groundwater conditions that make deep underground excavation impractical. No change to overall floor area.

375 East 1st Avenue

Applicant: Onni

A large mixed-use development adjacent to the future Great Northern Way–Emily Carr SkyTrain Station, proposing four towers of 35–40 storeys with a total of 1,156 units (639 strata, 485 rental, and 32 artist social housing), a 225-room hotel, office and retail space, and an arts and culture production facility to be conveyed to the City. Total floor area is 110,800 sq. m with buildings reaching up to 137 m in height. Designed by Boniface Oleksiuk Politano Architects.

1045 Haro Street & 830–850 Thurlow Street

Applicant: 1045 Haro Street Limited Partnership (Chard)

Two towers of 25–26 storeys connected by an 8-storey podium in the West End, with 542 rental units (22 below-market, operated by the YWCA), a private childcare facility, and ground-floor commercial. Density increases from 6.0 to 10.6 FSR, with a building height of 80.9 m. Designed by Musson Cattell Mackey.

2406–2490 Renfrew Street & 2905–2911 East Broadway

Applicant: Easthill Development Limited Partnership

A rezoning revision for a site previously approved under CD-1 (846) in 2022, now seeking a 31-storey tower and a 6-storey mid-rise with 339 market rental units and ground-floor commercial. FSR increases from 4.1 to 7.5, with maximum height rising from 48.6 m to 97 m. Designed by Studio One Architecture.

466–476 West 27th Avenue

Applicant: Vittori Developments Ltd.

A proposed 15-storey rental building with 140 units (20% below-market) mid-block between Cambie and Yukon Streets, within 400 m of King Edward Station. The application proposes an FSR of 5.89 and a height of 45.6 m, with additional height qualifying under the Rental Development Relief Program.

365–395 West Broadway

Applicant: Bonnis Development Yukon St. Inc.

A proposed 32-storey mixed-use tower with 196 market rental units and ground-floor retail at the corner of Broadway and Yukon Street, 180 m from Broadway–City Hall Station. The application proposes an FSR of 22.0 on a 766 sq. m lot, with a building height of 104 m. Staff are supporting a height above the Broadway Plan’s standard 30-storey limit due to the site’s shallow lot depth.

1088 West 12th Avenue

Applicant: PC Urban

A proposed 26-storey mixed-use rental building in Fairview with 304 units (20% below-market) and ground-floor commercial, replacing an existing 65-unit rental building. FSR increases from 3.0 to 6.9 and height from 27.5 m to 81 m. The 26-storey height is supported under the Broadway Plan due to the site’s frontage exceeding 45.7 m. Designed by Francl Architecture.

1618–1680 East Hastings Street

Applicant: Urban Native Youth Association and City of Vancouver

An Indigenous-led mixed-use project at East Hastings and Commercial Drive proposing 157 social housing units in a 23-storey tower, with the lower four storeys housing a renewed Urban Native Youth Association centre, a Nicola Valley Institute of Technology campus, and a 44-space Indigenous childcare facility to be owned by the City. The application proposes an FSR of 5.9 and a height of 81 m.

7525 Cambie Street

Applicant: Wesgroup

A proposed 12-storey mass timber mixed-use building with 97 market rental units and ground-floor retail at the corner of Cambie and West 59th Avenue, representing the first application under the City’s Mass Timber Policy for Rezonings. FSR of 4.26 and height of 48 m. No below-market rental requirement applies, reflecting the premium cost of mass timber construction.

2611 Victoria Drive

Applicant: Vertex DC Ventures Inc. and Fastmark

A proposed 26-storey mixed-use tower with 250 rental units (20% below-market) and ground-floor commercial near Commercial–Broadway Station, at an FSR of 10.9 and a height of 83 m. Staff are recommending referral back rather than approval, as the building above the 10th storey falls within the Trout Lake public view cone (View 27.1), and the City’s view cone policy is currently under review.

807–819 Hornby Street & 908–948 Robson Street

Applicant: Reliance Properties

A proposed 35-storey mixed-use tower at the corner of Robson and Hornby Streets in Downtown Vancouver, with 176 strata units and 160 hotel rooms above an 11-storey commercial podium with ground-floor retail. The application proposes an FSR of 14.5 and a height of 108.7 m, with a negotiated cash community amenity contribution of up to $4.3 million.

David Taylor | Colliers International david.taylor@colliers.com | 604-761-7044 | vancouvermarket.ca

A 32-unit rental apartment building in Burnaby’s Metrotown neighbourhood sold in May 2026 for $10,500,000.

Key Details:

• Sale Price: $10,500,000
• Price/Unit: $328,125
• Cap Rate: 4.8%
• Number of Units: 32
• Lot Size: 20,569 SF lot

The property at 5087 Irving Street is a three-storey, wood-frame apartment building constructed in 1969, situated on a 20,560 SF corner lot fronting both Irving Street and Newton Street in Burnaby’s Metrotown neighbourhood. The building contains 9 bachelor, 16 one-bedroom, and 7 two-bedroom suites averaging 629 SF, with one level of underground parking and 32 stalls. The net operating income at the time of sale was $500,528, reflecting a going-in yield of 4.77% on the purchase price.

The sale was brokered by Simon Lim, James Lang, and Jessica Hathaway of Colliers, who had marketed the property at an asking price of $12,800,000.

Beyond its income characteristics, the site carries significant redevelopment potential. Under Burnaby’s 2050 OCP draft, the property is designated High-Rise Apartment 1, permitting up to 30 storeys with the ability to increase to 40 storeys through density bonusing — a designation that attracted considerable developer interest during the marketing campaign. The property is within walking distance of both Metrotown and Royal Oak SkyTrain Stations on the Expo Line.

At $328,125 per unit, the sale sits modestly above the Burnaby apartment average tracked on this site, reflecting the transit proximity and redevelopment upside of the Metrotown location.

The property is located in Burnaby, on the north side of Irving Street between Marlborough Avenue and Royal Oak Avenue in the Metrotown neighbourhood.

A single-storey retail building in West Vancouver’s Ambleside Village sold in April 2026 for $9,500,000.

Key Details:

• Sale Price: $9,500,000
• Price/SF: $1,418
• Building Size: 6,700 SF
• Lot Size: 12,109 SF
• Cap Rate: 2.75%

The property at 1802 Marine Drive is a corner site at Marine Drive and 18th Street in Ambleside Village, one of the most tightly held retail corridors in Metro Vancouver. Built in 1966, the single-storey building sold vacant, with the transaction recorded as a fee simple transfer in April 2026. The site is zoned AC2 (Ambleside Centre Zone 2) and falls within the Ambleside Village Centre OCP designation, which supports future mixed-use redevelopment.

The property last traded as part of a two-lot assembly that had been marketed by Cushman & Wakefield as 1802–1814 Marine Drive, a 6,872 SF fully leased retail complex occupied by Sleep Country and S.T. Arts. The sale price reflects the premium that Ambleside commands — Marine Drive has consistently produced some of the highest retail prices per square foot in Metro Vancouver, with recent transactions along the corridor ranging from just under $900 to over $1,900 per square foot.

The property is located in West Vancouver, at the corner of Marine Drive and 18th Street in the Ambleside neighbourhood.

A three-storey mixed-use building at 2231–2245 Granville Street in South Granville has sold for $9,669,021, representing $776 per square foot on the building.

The property was held by the original developer since its construction in 1980 — a tenure of approximately 46 years. It was listed by NAI Commercial at $12,500,000 before being reduced to $10,999,000, and ultimately traded at a further discount after approximately nine months on market.

DETAILS:

• Sale price: $9,669,021
• Price per SF: $776
• Building size: 12,464 SF
• Lot size: 7,200 SF (60′ x 122′)
• Zoning: C-3A
• Year built: 1980
  
  

The building sits on the west side of Granville Street, one lot north of West 7th Avenue, within the Granville/Burrard Slopes Broadway Plan area (Area D). Under the Broadway Plan, the site is eligible for rezoning to up to 25 storeys and an 8.0 FSR, subject to site conditions and protected public view corridors.

The building includes a split-level retail component totalling 6,441 SF leased to six tenants — Macao Imperial Tea, Vancouver Fine Art Gallery, Future Fade Barbershop, Voka Deka Esthetics Salon, Vean Tattoo, and Petley Jones Gallery — along with four one-bedroom residential units on the upper floor ranging from 817 to 904 SF. The property is located approximately 200 metres from the future South Granville SkyTrain station at Broadway and Granville.

Conor Finucane of NAI Commercial acted as the listing broker.