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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

252-Unit Project Planned for Port Moody

Marcon has submitted an OCP amendment and rezoning application to the City of Port Moody three separate parcels of land located along St. George Street in the Moody Centre area. The lots in question are 22 single family lots located between 3010-3042, 3009-3029, and 3037-3113 St. George Street, and combine for a total land area of 191,462 SF. Dallas Creek bisects the townhouse portion of the site.

Details of the project include:

  • 252 total units;
  • 179 units within two six-storey buildings on Parcel 1 on the north side of St. George Street; (104 one-beds, 55 two-beds and 20 three-beds)
  • 73 townhouses respectively on Parcels 2 and 3 on the south side of St. George Street in a total of 11 buildings; (50 three-beds and 23 four-bed units);
  • an overall density of 1.42 FAR;
  • 402 underground parking spaces;
  • significant enhancements to Dallas Creek watershed, including daylighting; re-establishment of water flows; channel widening; in-stream habitat creation; removal of buildings and structures within the Streamside Protection and Enhancement Area (SPEA); and creation and restoration of the riparian habitat;
  • the dedication to the City of the SPEA and neighbouring park/open space totalling 36,166 SF;
  • the provision of six affordable housing units for Kinsight.

3010 St. George3010 St. George_23010 St. George_33010 St. George_1

An OCP amendment is required to increase the maximum permitted height of the properties on the north side of St. George Street from three storeys to six storeys; re-designate portions of the property as Parks and Open Space; and allow for flexibility in relation to SPEA setbacks from Dallas Creek in line with other OCP policies.

The architect for the project is SHIFT Architecture.

October 11, 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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