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, Investment

FOR SALE: 12-Unit Strata-Titled Apartment Conversion Opportunity

We are pleased to introduce this 12-unit strata-titled building in a highly desirable area of Kits. The building has excellent potential to be converted to an income-producing rental apartment building.

3495 West 4thBRO 3495 W 4th Ave

Please contact us for further details.

June 1, 2017by david.taylor@colliers.com
Development

Details Emerge for Bosa’s New Westminster Waterfront Project

Bosa Development has submitted a formal development permit application for their ambitious New Westminster waterfront project, originally announced last year.

The site at 660 Quayside Drive, currently a surface parking lot, was previously owned by Larco and had been envisioned for redevelopment as far back as 1996 with as many as five towers originally proposed with approximately 1,000 units and above-ground parking.

A revised rezoning proposal for three towers including a hotel was put forward in 2014 before the site was ultimately sold to Bosa Development in August 2016 for $63,000,000 ($79 per buildable SF).

The current proposal is now for a two-tower scheme that includes:

  • two residential towers: 53-storeys (phase 1) & 43-storeys (phase 2)
  • building heights of 584 ft & 472 ft.
  • 665 units
  • 156 one-bedrooms, 441 two-bedrooms & 68 three-bedrooms
  • a total density of 4.52 FSR
  • a 3-storey commercial building with retail at grade and childcare above
  • 40 space childcare facility
  • 2 acre of new public park including extension of Westminster Pier Park
  • 929 parking stalls on 3 levels of underground parking

660 Quayside_9 660 Quayside_6660 Quayside_3 660 Quayside 660 Quayside_1 660 Quayside_4 660 Quayside_5 660 Quayside_7 660 Quayside_8The application describes the overview of the project:

“The proposed project will be a major and positive contribution to the downtown waterfront and the City of New Westminster. The development combines two residential towers, retail space, daycare, public park, underground parking and riverfront esplanade to create a dynamic mixed use project. The site is an important gateway to the waterfront and a key component in the City’s Waterfront vision for a continuous waterfront experience, improved neighbourhood connections and year-round public spaces.”

June 1, 2017by david.taylor@colliers.com
Apartment, Development

Next Phase of Port Royal Project Proceeding

The next phase of Aragon Properties‘ Port Royal project is proceeding to final City of New Westminster Council consideration for development permit approval. The site at 300 Salter Street in the Queensborough area is part of the larger Port Royal development (Phase 6C) that was rezoned a few years ago.

The proposal for the site is for a 4-storey rental apartment building that includes:

  • 87 rental units
  • 28 one-bedrooms, 41 two-bedrooms, 18 three-bedrooms
  • 136 parking spaces
  • a 1,460 SF amenity space
  • a total density of 1.49 FSR

300 Salter300 Salter_1300 Salter_3The architect for the project is Ramsay Worden.

June 1, 2017by 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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