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

Details Emerge for Westbank/First Baptist Church Redevelopment

After holding preliminary open houses late last year to unveil the First Baptist Church redevelopment to the public and the media, Westbank has now submitted their formal rezoning application for the Bing Thom designed project at 969 Burrard St. & 1019-1045 Nelson Street. The specific details of the project have now been finalized for rezoning application purposes.

Major details of the proposal includes:

    • restoration of First Baptist Church;
    • new church ancillary spaces, including a 37-space child daycare, a gymnasium, a counselling centre and offices;
    • a new 8-storey building containing 66 social housing units, owned by the church;
    • a new 56-storey tower containing 294 market strata residential units;
    • a combined total new floor area of 559,925 SF.
    •  a total density of 10.79 FSR;
    • 497 underground vehicle parking spaces.

This rezoning application is being considered under the Rezoning Policy for the West End and the West End Community Plan.

969 Burrard As the building sits at an elevation of 167 ft above sea level, it will appear as one of the tallest buildings on the Downtown skyline, only slightly shorter than Shangri-la and Trump Tower.

969 Burrard_4Further detail on the rezoning application can be found here: http://former.vancouver.ca/commsvcs/planning/rezoning/applications/969burrard/index.htm

February 11, 2016by 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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