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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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

Details on Telus Gardens’ Two-Storey Video Screen

Details about the new ‘Media Facade’ on the Telus Gardens office tower are emerging and it seems like it will be a distinctive feature. The screen is located on the west façade, between the 16th and 18th floors, and is approximately 26′ x 40′. It is only visible in one direction from both Georgia and Seymour Streets.

Telus1 Telus2 Telus3

Here’s a description from the application:

“A simple and proven technology of back projection onto a retractable screen will provide a glare-free static image or full motion video. At dusk the screen descends, and the façade transforms.

When the performance is over, the screen ascends and the office tower is back to business. Content will be a mix of public art (including community messaging) and tenant exposure with the City of Vancouver reserving the right for special event programming.”

More details here.

January 27, 2015by david.taylor@colliers.com
Development

Market Update: Burnaby Rezoning Applications

Here’s the latest on a few projects at various stages of rezoning in the City of Burnaby:

  • 2450 Alpha Avenue

2450 Alpha_2An application was submitted last year for this 41,603 SF site in the Brentwood Town Centre area owned by Solterra. It is now moving toward public hearing next month. The plan calls for a 29-storey, 169 unit condo tower with ground oriented townhouses and below and above ground parking. It is currently zoned M-2, but is designated for high-density residential based on RM-4s. The total density is 3.6 FAR.

  • 6050 Sussex Avenue

6050 SussexA preliminary rezoning application has been filed by Townline Homes for a triangular 30,237 SF site in Metrotown. The proposed rezoning is for a new residential highrise as well as a replacement of the existing Burnaby West United Church on site.

The maximum permitted density on the site would be 4.83 FAR.

  • 6837-6875 Royal Oak Avenue

6837 Royal OakA preliminary application has been submitted for a site on the west side of Royal Oak Avenue south of Imperial Street. The site comprises two City-owned properties as well as a privately owned single family home. Under Sub-Area 7 of the Royal Oak Community Plan, the site can be rezoned under C9 Urban Village guidelines, which allows 2.2 FAR.

 

  • Gold House (6280 Cassie Avenue)

Gold House MapThis proposal by Rize Alliance for a 41-storey tower and 26-storey tower in Metrotown was give second reading and public hearing last summer, and has now met the prerequisite conditions imposed by the City of Burnaby. It will now move forward for final approval and should begin construction later this year. A registration site for the project is up already and says “Coming early 2015”

January 27, 2015by david.taylor@colliers.com

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David Taylor Personal Real Estate Corporation

Colliers International

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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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