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, Retail

55-Unit Project Planned for Lower Lonsdale

Anthem Properties is seeking approval at City of North Vancouver council for a Development Application for a mixed use development at 177 West 3rd Street, a former gas station and car wash that has been sitting vacant for several years due to remediation work. The site is located on the Southeast corner of 3rd Street and Chesterfield, just West of Lonsdale.

The proposed new development includes a 5-storey concrete condo building, including:

  • 55 condo units
  • 10,000 SF of ground floor retail space
  • a total density of 2.68 FSR
  • total building height of 52.50 ft
  • one and a half levels of underground parking with 74 total stalls
  • a CAC of $2,383,720, equivalent to $30 per SF

The site is located in an area designated in the OCP as Mixed Use Level 3, which permits 2.30 FSR density with provision for a bonus density of an additional 0.50 FSR that may be granted at council discretion.

177-west-3rd177-west-3rd_2 177-west-3rd_1

 

November 14, 2016by david.taylor@colliers.com
Development

22 Units Planned for Edgemont Village in North Vancouver

A rezoning application in the Edgemont Village area of North Vancouver is heading to public hearing. The site is located on the West side of Crescentview Drive, across from the public library.

The plan is to redevelop three residential lots located at 3105 and 3115 Crescentview Dr. to create a three storey 22 unit apartment and a two storey single family house all located over a shared underground parking structure. The proposal  for the 24,374 SF site includes:

  • 3 storey condo building and one single family house
  • 26 total units
  • 3 one-bedrooms, 17 two-bedrooms & 6 three-bedroom units
  • 43 underground parking spaces
  • overall density of 1.75 FSR
  • total building height of 35 feet
  • a CAC payment of $337,095 (approx. $13 per SF)

3105-crescentview3105-crescentview_1

The OCP designation that applies to the site is Residential Level 5 – Low Density Apartment which allows a density up to 1.75 FSR. The height and design of the building was further reinforced by the Edgemont Village Centre Plan, which was adopted in 2015.

The architect for the project is Raymond Letkeman Architects.

November 14, 2016by david.taylor@colliers.com

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David Taylor - Senior Vice President @ColliersCanada. Chronicling investment and development activity in Vancouver. Views are my own.

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16 Apr

First Capital REIT acquired by Choice Properties and KingSett for $5.2-billion

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16 Apr

First Capital REIT --> Choice Properties REIT and Kingsett Capital are teaming up to acquire the Canadian real estate company in a deal valued at over $9 billion, including assumed debt. Choice Properties will acquire roughly five billion dollars worth of shopping centres, while

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16 Apr

West Vancouver condo project in receivership, causing 'heartbreak' in Dundarave

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9 Apr

Greater Vancouver commercial real estate transactions down 8.3% in 2025 via @westerninvestor

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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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