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

33-Storey Tower Proposed for Downtown New West Site

Rezoning and Special Development Permit applications have been submitted to the City of New Westminster for a new development at 618 Carnarvon Street, a 39,747 SF site that includes  the consolidation of a six properties with frontages along Carnarvon, Sixth and Clarkson Street.
 
The existing zoning for the site at 618 Carnarvon Street is C-4 and it is currently improved with lowrise commercial buildings.
 
The planned project includes a 33-storey condo tower, including:
 
  • 253 units;
  • 28 studios, 69 one-bedrooms, 126 two-bedrooms & 39 three-bedrooms;
  • a total building height of 350 ft.;
  • a total density of 6.20 FSR;
  • retail uses fronting Sixth Street;
  • 325 underground parking spaces.
  • A ‘pocket park’ fronting onto Sixth and Carnarvon.
  • A CAC of $2,900,000

618 Carnarvon618 Carnarvon_1618 Carnarvon_2The site is designated Mixed Use High Density Designation within the Downtown Community Plan. The site is also located within the Tower Precinct in the Downtown Community Plan.

 
The architect for the project is GBL Architects.
 
June 14, 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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