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

Polygon Proposing 528 Unit, 3-Tower Development in Richmond

Polygon Homes has applied to the City of Richmond to rezone an 8.5 acre site at 8311-8371 Cambie Road and 3651 Sexsmith Road from Single Family and Auto-Oriented Commercial (CA) to High Rise Apartment based on the Capstan Village City Centre Plan.

Polygon is planning a 478,019 SF residential project, with three towers containing 528 dwellings, new streets, pedestrian linkages, and public art. The proposal also includes $4.2M in funding towards the future construction of the Capstan Canada Line station (total cost $25M), $5.7M in funding towards the to the City’s Affordable Housing Reserve in lieu of building affordable housing units on site, construction of affordable housing units elsewhere within Richmond; and the replacement of an existing City-owned playing field at 3651 Sexsmith Road (Cambie Field) with a larger park. The total density will be 2.375 FAR.polygon cambie rd 2
polygon cambie rd 1

Source: City of Richmond

December 18, 2012by david.taylor@colliers.com
Development, Retail

SmartCentres Planning 372,000 SF Retail Centre in Richmond

SmartCentres has submitted an application to the City of Richmond to build a open-format shopping centre on a 17-acre site in the West Cambie area of Richmond. The project, known as Central at Garden City, is located on Garden City Road between Alderbridge and Alexandra Road. The site is proposed to be developed with a 3-storey, 162,000 SF Wal-Mart, a 4-storey retail/parkade structure, and several 1-2 storey retail buildings centred around a High Street running through the site. There will be 20-70 CRU’s and a total leasable area of 372,000 SF.central garden city 2

SmartCentres had initially made a rezoning application in 2003, but was delayed due to a variety of issues including assembly of lots and the development of the West Cambie Area Plan by the City of Richmond.central garden city 1

Source: City of Richmond

December 18, 2012by 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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