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

Latest Cambie Infill Project Features Large Units

The latest rezoning application to emerge along the Cambie Corridor is for a small 7,863 SF single-family corner lot at the Southeast corner of Cambie Street and West 35th Avenue. The site sits adjacent to another large rezoning application to the South, but the site qualifies for a standalone development with 62 feet of frontage.

The plan for 5110 Cambie Street is for a 6-storey residential building with townhouses on the lane. Details include:

  • a total of 12 condo units (7 in the building + 5 townhouses)
  • 11 three bedroom units and 1 two-bedroom unit
  • average unit size of 1,277 SF
  • a building height of 66 ft.;
  • a building efficiency of 81%;
  • a total density of 2.40 FSR; and
  • 14 vehicle parking spaces & 18 bicycle spaces on one level of underground parking

5110-cambie 5110-cambie_1

5110-cambie_2The building features one elevator and ‘city style’ townhomes on the bottom two floors, with two units per floor on floors 3-5, and one penthouse unit.

The application is being considered under the Cambie Corridor Plan. The architect for the project is Billiard Architecture.

The lot was acquired in March 2016 for $3,898,000, which equates to $206 per buildable SF.

November 23, 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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