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

Redevelopment Plan Emerges for Jewish Community Centre Site

A full rezoning application has been submitted for the 3.3 acre Jewish Community Centre and Louis Brier Homes property at 950 West 41st Avenue, just East of Oak Street.

The plan calls to amend the existing CD-1 zoning to allow a phased redevelopment of the property that became possible under the Oakridge Transit Centre Policy Statement adopted by the City in 2016 in order to facilitate the eventual redevelopment of the Oakridge Transit Centre site across the street. The Jewish Community Centre site is located directly across the street to the South and was also redesignated given it’s adjacency.

Details of the rezoning proposal include:

  • A 9-storey replacement Jewish Community Centre, including:
    • recreation space, including pools and gyms;
    • ground level commercial space;
    • an Early Childhood Education Centre, including 104 private daycare spaces;
    • cultural arts, auditorium, and theatre space;
    • non-profit office space; and
    • a height of 121 ft..
  • A 13-storey replacement Louis Brier Home and Hospital Seniors Care Facility, with:
    • senior assisted living, complex care and memory care beds; and
    • a height of 158 ft..
  • A 24-storey rental apartment tower with:
    • 160 secured market rental units;
    • 64 studios, 40 one-bedrooms, 40 two-bedrooms and 16 three-bedrooms;
    • a height of 250 ft.

Underground parking, with 693 vehicle parking spaces and 250 bicycle parking spaces, is proposed. The application proposes a total density of 4.47 FSR.

The architect for the project is Acton Ostry Architects.

The full rezoning application can be viewed here: http://rezoning.vancouver.ca/applications/950w41stave/index.htm 

January 16, 2018by david.taylor@colliers.com
Development

97-room Hotel Planned for Richmond

0951705 BC Ltd. has applied to the City of Richmond for permission to rezone 8871, 8891, 8911, 8931, 8951, 8971 and 8960 Douglas Street from the “Light Industrial (IL )” zone and the “Auto-Oriented Commercial (CA)” zone to a new site-specific zone in order to permit a new 6-storey hotel development, entitled “Hyatt Place” in the City Centre’s Bridgeport Village.

The site includes a non-contiguous portion on the south side of Douglas Street. The 6-storey hotel building will be on the north side of Douglas Street and a single-storey
commercial building will be on the south side. The hotel site is 25,920 SF and is currently vacant.

Key components of the proposal include:

  • 97 hotel rooms;
  • 1,733 of commercial space;
  • a building height of 74 ft.;
  • A total density of 2.0 FAR;
  • 57 total parking stalls across both sites;
  • LEED Silver equivalent building design and hotel building designed and constructed to connect to a future district energy utility (DEU) system.

The architect for the project is GBL Architects.

 

January 16, 2018by 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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