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

Steveston Secondary on the Block, Again

Richmond Review – Steveston Secondary on the block, again.

As many as 20 developers are in the mix as potential suitors for the former 13-acre home of Steveston secondary school on No. 2 Road, which is once again on the sales block.

For the past five years or so, the Ministry of Education has placed a moratorium on the sale of school lands to parties other than independent school operators. And with the local school board opting not to sell to an independent school, the Steveston site has remained unsold.

But the prospects for a sale changed earlier this month, when B.C. Education Minister Don McRae wrote to the district that it would extend the completion period for the sale and transfer of title for the Steveston Secondary School site until March 31, 2015.

For the past month, the Richmond school district has sought expressions of interest for the site from developers as well as 75 other parties who previously expressed an interested in the land, Sargent said.

Read more: http://www.richmondreview.com/news/203484941.html

April 18, 2013by 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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