Vancouver Market - Tracking commercial real estate investment sales across Metro Vancouver — sale prices, cap rates, and $/SF data for apartment, retail, office, land, and development transactions. By David Taylor, SVP at Colliers International Canada.
Vancouver Market - Tracking commercial real estate investment sales across Metro Vancouver — sale prices, cap rates, and $/SF data for apartment, retail, office, land, and development transactions. By David Taylor, SVP at Colliers International Canada.
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Development

Plaza of Nations: Northeast False Creek Plan Progress

The City of Vancouver held open houses June 9-12th to provide an update on planning work for the Plaza of Nations site. Topics on which the City is seeking feedback include the general form of development and land use, as well as the inclusion of sports centre (ice rink that could double as a Canucks training centre, and indoor sportscentre) and potential public benefits including a public plaza.

The current proposal by Canadian Metropolitan Properties is to provide:

  • 1,405,000 sq. ft. of Residential Space (approximately 2,400 new residents)
  • 352,000 sq. ft of Commercial Job Space (approximately 1,000 new workers)
  • Dedicated public open space of 70,062 sq. ft. which includes a public events plaza of approximately 48,000 sq.ft., 10,613 sq. ft. of additional dedicated public space and semi public space of approximately 24,000 sq. ft.
  • A Plaza Sports Centre, to be constructed in partnership with Aquilini Development as a Canucks training facility and sports science centre as well as a publicly accessible community space, including an ice rink, community meeting rooms and daycare centre.

City of Vancouver staff will now issue a report to Council that primarily deals with the Sports Centre proposal and civic plaza location.

Proposed sports centre

It is anticipated that a rezoning submission will be forthcoming in July 2011 with open houses in the Fall of 2011, and a public hearing in 2012.

Further information can be obtained here.

Source: City of Vancouver

July 8, 2011by david.taylor@colliers.com

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David Taylor Personal Real Estate Corporation

Colliers International

DT

David Taylor

Senior Vice President, Colliers Canada

David Taylor is a Senior Vice President at Colliers International in Vancouver, BC, specializing in the sale of commercial real estate across Metro Vancouver. He has sold over $1.7 Billion in office buildings, retail properties, apartment buildings and development land since 2004.

Vancouver Market chronicles investment and development activity in Metro Vancouver, including sale prices, cap rates, $/SF metrics, and market context for commercial real estate transactions.

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