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.
Development

Townline Proposing Richmond Tower

Townline Homes has applied to the City of Richmond to rezone 8280 – 8300 Granville Avenue from CA to ZHR13 to build a 16-storey residential tower with 109,000 SF of residential area, 126 units, and 160 parking stalls.

Townline had attempted to acquire the lot to the West, but was unable to do so. 5% of the total units will be provided as affordable housing.

The project went for first reading on November 13th, 2012.

 

 

November 14, 2012by david.taylor@colliers.com
Development

Vancouver Stock Exchange building expansion to move ahead

Vancouver Stock Exchange building expansion to move ahead.

  
Vancouver Stock Exchange building expansion to move ahead
 
VANCOUVER — Global investment banking giant Credit Suisse will move ahead with plans to construct a 30-storey office tower over top the historic Vancouver Stock Exchange building after city council voted Tuesday to approve a rezoning application that will more than double the maximum density on the site.

The Exchange project, worth an estimated $200 million, will add 369,000 square feet of premium office space to the downtown core and employ an estimated 400 people during construction.

City staff had earlier recommended council approve the application, reasoning that it will contribute to Vancouver’s job space, economic development, heritage and sustainability objectives.

Read more: http://www.vancouversun.com/business/Vancouver+Stock+Exchange+building+expansion+move+ahead/7542502/story.html#ixzz2CAsoGNIO

November 14, 2012by david.taylor@colliers.com

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David Taylor - Senior Vice President @ColliersCanada. Chronicling investment and development activity in Vancouver. Views are my own.

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First Capital REIT --> Choice Properties REIT and Kingsett Capital are teaming up to acquire the Canadian real estate company in a deal valued at over $9 billion, including assumed debt. Choice Properties will acquire roughly five billion dollars worth of shopping centres, while

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