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

Master Plan for Chunk of Queensborough

A master plan for a chunk of Queensborough next to Port Royal is in the works.

The plan began when Platform Properties developer Kyle Shury noticed the New Westminster school district put a triangular piece of land at Stanley and Duncan streets up for sale. He bid on it and got it. Then he went to city hall and they’ve agreed to sell Platform 19 properties it owns nearby. That will give Platform just under 10 acres in total. The city then created a special study area of 21 acres to develop a master plan for the land, with the company taking the lead.

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“Between the two of those (Platform’s property and the city properties) we saw an opportunity to create a significant [community],” said Shury.

The area is bounded by Ewen Avenue, Stanley Street, Duncan Street and Furness Street. Most of the land is currently zoned light industrial. Platform wants to turn it into a planned residential, commercial and retail mix.

Shury had previously been part of putting together the Queensborough Landing shopping complex.

So he knew the community’s potential and liked a lot of the changes that have taken place, especially Port Royal. “They’re starting to see the benefits of all their hard work,” said Shury.

Read more: http://www.newwestnewsleader.com/news/264317391.html

June 24, 2014by 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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