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, Development

More Units Proposed for Arbutus Village Project

Larco has applied to the City of Vancouver to amend the rezoning for the Arbutus Village Shopping Centre site.

The overall rezoning for the 7-acre site was approved back in 2011, with the first two phases along Arbutus now having been fully approved and under construction. 

The new rezoning proposal would increase the overall residential floor area for the remaining phases on the Western portion of the site (Blocks C and D), including an increase in the number of market and social housing units. The application cites the housing crisis which has worsened considerably since 2011, as well as the re-imagining of the Arbutus Greenway and Arbutus Corridor. 20% of the units are required to be social housing.

The specific amendments that affect the remaining project (Blocks C and D) include:

  • A 113,519 SF increase in total density;
  • A total of 240 units;
  • An increase in building height on Block C to 197 ft
  • An increase in building height of Block D to 236 ft.
  • 2,700 SF expansion of planned Neighbourhood House (approx. 10,000 SF)

Blocks C & D also includes about 10,000 SF of retail space, as well as an adult day care, and strata rec centre.  The rezoning application proposes no change to the amount of commercial space, and includes an expanded Neighbourhood House referenced above.

January 23, 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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