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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Apartment, Development, Office, Retail

Rezoning Plans Unveiled for Downtown Canada Post

Bentall Kennedy has submitted their formal application for rezoning of the Downtown Canada Post site. The 2.98 acre site comprises a full city block at 349 West Georgia Street formerly occupied by Canada Post and bought by bcIMC in 2013 for $159 Million.

The proposed redevelopment is interesting in that it contemplates retaining the existing Post Office building and adding two residential towers and one office tower above with parking uses above grade in the podium.

Details include:

  • Retention of heritage building and its conversion into a seven-storey podium containing retail along all street frontages, rental housing, office, and parking
  • Adding three towers above podium, including 17 storeys of office, and 18 and 20 storeys of residential
  • 427 rental apartments, 372 condo units
  • 512,000 SF of office space
  • 274,000 SF of retail space
  • An overall density of 12.9 FSR
  • Tower heights of 150 – 222 feet
  • Six levels of parking with 1,474 parking spaces & 1,168 bicycle spaces
  • A 49-space childcare facility

The site’s primary constraint is the view cones which limit the building heights.

349-w-georgia 349-w-georgia_1 349-w-georgia_2 349-w-georgia_3 349-w-georgia_4

 

November 3, 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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