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

City of North Vancouver Votes Down Draft OCP

North Vancouver isn’t getting a new plan.

The official community plan, which would have guided the city’s growth, transportation, environment and economy over the next 10 years, failed to make it out of council chambers Monday.

Despite nearly unprecedented outreach that included more than 100 community gatherings and input from approximately 4,600 concerned residents, consensus on council proved elusive. Coun. Pam Bookham trumpeted the draft OCP as “the democratic will of this community.”

“I would urge all members of council to support this draft OCP,” she said.

The OCP allows for either an in-house secondary suite or a coach house but not both, which amounts to a major loss, according to Coun. Linda Buchanan.

“We have taken away property owner’s rights to create revenue. We have taken away creative options for affordability, and we’ve put our heritage inventory of houses at risk,” she said.

Read more: http://www.nsnews.com/news/city-of-north-vancouver-votes-down-draft-ocp-1.1400423

October 3, 2014by david.taylor@colliers.com
Development, Office

Market Spotlight: Broadway Central

By ChangingCity

Broadway Office blog

Here’s an office development on the 500 block of West Broadway that started construction just over 2 years ago. Designed by Studio One Architecture for Orca West (up to now a mainly residential developer) the project, initially known as the Neelu Barchra Centre, sits in the ‘Uptown’ commercial-only stretch of Broadway, close to the City Hall Canada Line station.

Initially marketed for lease, the scheme was switched to 127 strata office units and seems to have had far greater success as a result. The final building seems somehow more grey than the render suggested – although once the lights are on inside and the planting gets established it may be a closer match.

…read more

Source:: Changing City Updates

October 3, 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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