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

12-Storey Condo Building Planned for Norquay Village

Thind Properties has submitted an application to rezone a 31,623 SF site at 2395-2443 Kingsway from C-2 and RT-2 to CD-1 to allow a 12-storey building condo building with retail at grade, including:

    • 126 units
    • 9,837 SF of retail space at grade
    • a building height of 125 ft.
    • a density of 3.79 FSR; and
    • 154 underground parking spaces.

The site has 297 feet of frontage on Kingsway. The application is being considered under the Norquay Village Neighbourhood Centre Plan which designated the site for highrise residential up to 3.80 FSR.

2395 Kingsway 2395 Kingsway_1

July 20, 2015by david.taylor@colliers.com
Development

Shape Planning Brentwood Town Centre’s 3rd Tower

Based on the overwhelming success of sales of its first two towers, and with almost all of the 850 units in Brentwood ONE and Brentwood TWO towers having now sold out, Shape Properties is seeking Burnaby City Council approval for a third phase, comprising a further 526 units in a new 51-storey tower on the Lougheed Highway frontage. Details include:

  • 429,578 SF of residential space
  • 29,195 SF of retail space
  • 46,587 SF of office space on floors 2-4
  • 317 one-bedroom units and 209 two and three bedroom units
  • 579 underground parking spaces
  • A total community amenity contribution of $11,987,000 (or $80 per BSF)

Brentwood Phase 3When completed, this third tower will bring the total unit count at Brentwood Town Centre up to 1,366 units, about a third of the total overall units planned for the site.

July 20, 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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