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

40-storey Tower Proposed for Downtown Site

Townline Homes has applied to the City of Vancouver to rezone the Quality Inn site at 1335 Howe Street from DD to CD-1 to permit a 40-storey residential building and includes:

      • a density of 11.2 FSR
      • 389 market condo units
      • a 378 ft. tower with a 7-storey podium (height limited by view cone)
      • 24,000 SF of transferred heritage density
      • Average 6,500 SF tower floorplate
      • a 37-space childcare facility
The site is 24,000 SF and is located mid-block, book-ended between two existing towers: an 18-storey with 7-storey podium building at 1379 Howe (The Executive Inn); and a 19-storey building with 7-storey podium building at 1311 Howe st. (Viva Tower).
The proposed project sits between two other active tower projects one block away: Vancouver House (59 storeys) and Tate (40 storeys).

Policies allowing rezoning include: Vancouver’s Downtown Capacity Review Study, Green Buildings Policy for Rezonings and the Downtown Official Development Plan.

The site made headlines in 2014 as it was announced that the building would be operated as temporary homeless housing. Information on the current shelter facility can be found here.

1331 Howe_1 1335 Howe 1335 Howe_2

February 18, 2015by david.taylor@colliers.com
Development

New Tower Proposed in Southeast False Creek

Pinnacle International has applied to amend the existing CD-1 zoning for a site it owns and currently houses a presentation centre but has not yet developed at 2-26 East 1st Avenue, at the corner of Ontario Street near the Olympic Village area of Southeast False Creek. The proposal is for an 18-storey building that includes:

    • 137 residential units;
    • a density of 6.98 FSR
    • 162 underground parking spaces.

The site was originally rezoned in 2006. This application is being considered under the Southeast False Creek Official Development Plan, Southeast False Creek Design Guidelines for Additional Penthouse Storeys, and Comprehensive Development District CD-1 (464).

26 East 1st26 East 1st_2

February 18, 2015by 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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