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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Apartment, Development

26-Unit Rental Building Proposed for Marpole

A development application has been submitted to the City of Vancouver for permission to develop a two-lot assembly in Marpole at the corner of West 62nd Avenue and Columbia Street.

The plan for the RM-9 zoned, 9,681 SF site includes a 4-storey building with:

  • 26 rental apartment units
  • a total density of 1.91 FSR
  • 19 underground parking spaces on one level of underground

308 West 62nd Ave_1 308 West 62nd AveUnder the site’s existing RM-9 zoning, the application is “conditional”. The site falls just a few feet short of the required 90 ft. minimum site frontage and so the proponent has appealed to the Board of Variance. There is no CAC payable in this area of the Marpole Community Plan if the project is 100% rental. If the 90 ft. minimum site frontage is enforced, the project would be limited to 1.50 FSR.

The site was assembled between 2015 and 2016 for a total of $5,568,000, or $302 per buildable SF based on the proposed development.

The architect for the project is Stuart Howard Architects.

April 25, 2017by david.taylor@colliers.com
Development

Two More Towers Planned for Burquitlam

Two more towers are planned for the Burquitlam area of Coquitlam. This application comes from Anthem for a 2 acre site in between Brookmere Park and Vancouver Golf Club at 585 Austin Avenue, East of North Road. The development would replace an existing 58-unit strata townhouse complex on the site.

The proposal requires rezoning from the existing RS-1 zone to RM-6 Multi-Storey High Density Residential to allow two highrise buildings.The site falls within the Transit-Oriented Development Strategy “Shoulder” area of Lougheed Skytrain Station.

Details include:

  • 379 residential units
  • 139 one-bedrooms, 285 two-bedrooms, 55 three-bedrooms
  • a 23-storey tower and a 28-storey tower
  • a total density of 4.0 FAR
  • 22,000 SF of amenity space
  • 576 parking spaces on 3.5 floors of underground parking

585 Austin585 Austin_1585 Austin_2585 Austin_3 585 Austin_4The architect for the project is IBI Group.

April 25, 2017by 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

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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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