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.
Development

Two More Towers Coming to Brentwood

In what has become one of the most rapidly densifying areas of Metro Vancouver, two more tower proposals are closer to reality in the Brentwood Town Centre area of Burnaby. Both projects were introduced previously but are now at first reading with the City of Burnaby.

1846-1904 Gilmore Avenue

1846 Gilmore_1This 58,234 SF site at the corner of Gilmore and Halifax was originally proposed for rezoning back in 2012, but the application was withdrawn. The current proposal includes:

 

  • a 46-storey condo tower
  • a 3-storey townhouse podium on Halifax
  • 340 units
  • a total density of 5.0 FAR
  • 408 underground parking spaces
  • outdoor swimming pool

2338-2440 Madison Avenue

2338 Madison_3Polygon Homes is proposing a new project entitled ‘Fulton House’ on an 80,967 SF site on Madison Avenue, South of Lougheed. The plan was originally for a 35-storey tower in 2014, but the revised proposal now includes:

 

  • a 41-storey condo tower
  • below and above-ground structured parking
  • 300 units
  • a total density of 3.6 FAR
  • 349 parking spaces

 

October 26, 2015by david.taylor@colliers.com

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