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

34-Unit Project Proposed for South Cambie

A rezoning application has been filed for a 17,000 SF two-lot assembly site at 7638-7662 Cambie Street, on the east side of Cambie between West 60th and West 61st Street.

The proposal is for a 6-storey condo building that includes:

  • 34 units;
  • 2 studios, 4 one-bedrooms, 22 two-bedrooms and 6 three-bedrooms
  • a building height of 70 ft. ;
  • a total density of 2.43 FSR; and
  • 71 vehicle parking spaces and 49 bicycle spaces.

The application is being considered under the Cambie Corridor Plan.

7638 Cambie 7638 Cambie_1 7638 Cambie_2

The architect, GBL, explains the design rationale: “The Cambie Street facade comprises of stacked linear interowoven layers that playfully mirror the vehicular energy and movement of the adjacent street. The long projecting balconies act as giant louvers that shield the building face from mid to late afternoon sun, while also providing some acoustic buffering depth from the busy traffic.”

March 31, 2016by david.taylor@colliers.com
Apartment, Development

Construction Update: 2975 Oak Street

Here is an update for an interesting rental apartment project at Oak and West 14th Street. The project, by Aquilini Development, involved heritage retention of an existing 14-unit apartment building known as the Santa Fe Apartments.

As part of the heritage retention, Aquilini received approval for a 10-storey, 50-unit rental apartment building in behind the current structure, with a total density of 2.8 FSR under the RM-3 zoning. The project was unique in that only 14 units existed on a 12,500 SF site.

The project was approved at public hearing in May 2014.

The concrete tower is now topped out, although completion appears to be several months away yet.

2975 Oak (4)

courtesy mcminsen http://po.st/k9iCuZ via @imageshack

2975 Oak (3)

courtesy mcminsen http://po.st/9zUcFu via @imageshack

2975 Oak (2)

courtesy mcminsen http://po.st/2BrZjX via @imageshack

2975 Oak (1)

courtesy mcminsen http://po.st/RZscJv via @imageshack

March 31, 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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