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

Grosvenor Planning Downtown South Tower

Grosvenor has submitted a much anticipated rezoning application for a prominent “Grosvenor Pacific” site at the Northeast corner Hornby and Pacific; formerly the location of Umberto’s Il Giardino. Grosvenor had acquired the site in 2014 for $33.6MM along with the lot at Pacific & Howe.

1382 Hornby

The plan for the 15,000 SF site at 1380-1382 Hornby Street is for a 39-storey residential building and includes:

      • 212 units
      • a total density of 16.25 FSR
      • a building height of 375 feet
      • 238 underground parking spaces, and
      • restoration and relocation of Leslie House, the existing Heritage ‘A’ building that is located on the site (to be relocated to Pacific St on the lane).

Council direction on Potential “Benefit Capacity” in Downtown allows consideration of a rezoning application for this site.

The project, which is being designed by ACDF Architecure in conjunction with IBI Group, describes some of the design elements of the tower, including:

  • brushed stainless steel on the facade
  • metallic soffit
  • white stone cladding
  • tinted glass & glass spandrel

1382 Hornby_51382 Hornby_3 1382 Hornby_4The project joins other higher end condo towers at various stages of development, including Vancouver House, which is now under construction, and Reliance’s Burrard Place, the first phase of which is soon to begin construction.

January 21, 2016by 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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