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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

39-Storey Tower Latest Proposal from Westbank & Bing Thom

Westbank Corp. has now submitted their formal rezoning application for the site they own at 1668-1684 Alberni Street, at the corner of Bidwell Street. The site is currently home to two older midrise concrete condo buildings located just across Alberni from the former Chevron site, sold recently. The site also sits on the same block as a proposed 42-storey rental tower.

The current zoning for the 21,607 SF site is RM-5C thought the site is one of several that were redesignated under the West End Community Plan, this area known as the Denman Village. The proposal, designed by Bing Thom, is a 39-storey residential building including:

  • a six-storey podium;
  • 94 market residential units;
  • 13 one-bedrooms, 25 two-bedrooms, 55 three-bedrooms & 1 four-bed;
  • 5,500 SF floorplates;
  • the top 18 floors will feature only two units per floor;
  • a total density of 10.7 FSR;
  • four levels of underground parking with 180 vehicle parking stalls and 120 bicycle parking spaces; and
  • a building height of 385 ft.

1684 Alberni_11684 Alberni_21684 Alberni_6 1684 Alberni_3 1684 Alberni_4 1684 Alberni_5 1684 Alberni_7The application describes Bing Thom’s design rationale:

“The primary design gesture is the “Weave”, which celebrates simplicity and rhythm. The unique double height fenestration provides a formal framework that contains the suites. This weave organically stretches out at the base to encompass the podium units. The framework also acts as a sunshade reducing cooling loads in the summer.”
September 1, 2017by david.taylor@colliers.com

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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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