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, Office

Construction Update: 745 Thurlow Street

August 27, 2014by david.taylor@colliers.com
Apartment, Development

Mixing in Social Housing with Market Housing Creating Issues in New York Similar to Vancouver

This article in the New York Times highlights some challenges in incorporating social housing in a higher-end market condo building. This is an issue that may become more prominent in Vancouver as the City tries to generate new social housing units by requiring social housing in new market developments; particularly in higher density areas like the West End.

‘Poor Door’ in New York Tower Opens Housing Fight

New York Times, August 27, 2014

A 33-story glassy tower rising on Manhattan’s waterfront will offer all the extras that a condo buyer paying up to $25 million would expect, like concierge service, entertainment rooms, and unobstructed views of the Hudson River and miles beyond.

The project will also cater to renters who make no more than about $50,000. They will not share the same perks, and they will also not share the same entrance.

 The so-called poor door has brought an outcry, with numerous officials now demanding an end to the strategy. But the question of how to best incorporate affordable units into projects built for the rich has become more relevant than ever as Mayor Bill de Blasio seeks the construction of 80,000 new affordable units over the next 10 years.

 The answer is not a simple one. As public housing becomes a crumbling relic of another era, American cities have grown more reliant on the private sector to build housing for the poor and working class. Developers say they can maximize their revenues, and thus build more affordable units, by separating them from their luxury counterparts.

Read more: http://www.nytimes.com/2014/08/27/nyregion/separate-entryways-for-new-york-condo-buyers-and-renters-create-an-affordable-housing-dilemma.html

August 27, 2014by david.taylor@colliers.com
Development

Burnaby Opposition Hopefuls Try to Capture Anti-development Feeling

By Frances Bula

Interesting for me to see the new Burnaby First party trying to ride the anti-development horse there. Burnaby has been building towers for quite a while now, apparently with no backlash from anyone. But I have heard more grumbling about the Brentwood development in the last year than I’d heard the previous decade, so maybe there’s something there.

This is the news release that Burnaby First sent out today

Burnaby First Mayor candidate Daren Hancott & Council candidate Helen Ward plan to speak tonight at the public hearing for the controversial 56-story Brentwood Tower II. It will be held at 7:00 pm in the City Council chambers at 4949 Canada Way.
This hearing will be the one opportunity for the general public to have their say on this project before Burnaby’s current BCA monopoly council votes on whether or not to send this project forward.
The previously-approved Brentwood Tower I has already resulted in the closure of vital public transit infrastructure (the bus loop and related access ramp) making it extremely difficult for mobility-challenged transit riders to access Brentwood Mall shops and SkyTrain ground transit connections.
It has further resulted in significant slow-downs of rush hour traffic along Lougheed Highway at …read moreSource:: Frances Bula

August 27, 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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