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

Rental Building Proposed for West 4th Thrift Store Site

A rezoning application has been submitted for the Southwest corner of West 4th & Cypress in Kitsilano, currently improved with the Salvation Army Thrift Store and a detached house.

The 10,496 SF site is currently zoned C-2B. The plan for the site is a new 5-storey mixed-use building that includes:

    • 32 market rental units;
    • 1 studio unit, 7 one-bedrooms, 18 two-bedrooms & 6 three-bedrooms;
    • 4,205 SF of retail space on the ground floor;
    • a total density of 3.13 FSR;
    • a building height of 62 ft.; and
    • 2 levels of underground parking.

This application is being considered under the Secured Market Rental Housing (Rental 100) Policy.

The architect for the project is Rositch Hemphill Architects.

February 20, 2018by david.taylor@colliers.com
Development

First Phase of Pearson Dogwood Redevelopment to Include 445 Units

Onni Group has submitted a development application for the first phase of the Pearson Dogwood redevelopment. Onni acquired the 25 acre site in 2014 as part of a phased deal that finished in 2016, at the time a formal rezoning application had been submitted for the overall master plan of the site. The overall plan calls for a multi-phase, multi-year buildout that will eventually total approximately 2,700 residential units.

The first phase “Parcel A” entails development of an 81,142 SF parcel on the Southeast corner of the site, at the corner of Cambie and West 59th Avenue. The proposal includes the following:

  • 445 total residential units (307 market  units & 138 social housing units);
  • 44 Pearson supportive units;
  • 13,136 SF of retail uses on the ground floor;
  • building heights of 285 ft (26-storeys) and 243 ft (22-storeys);
  • a total density of 5.86 FSR;
  • 475,420 sq. ft. of floor area; 
  • a diagonal pathway accessing the interior of the larger site; and,
  • four levels of underground parking accessed from a new internal street.

The application describes the building program: “Generally, the retail space is along the north edge of the building on 58th Avenue and along a portion of Cambie Street. One market residential unit lobby (shared with the Pearson supportive housing units) is located on the new internal road, while the other is along Cambie Street. The affordable housing lobby will be facing 59th Avenue along with some market townhomes. The parkade ramp is located in the new internal road.”

 

Under the site’s approved CD-1 zoning, the application is “conditional” so it may be permitted; however, it requires the decision of the Development Permit Board.

The architect for the project is IBI Group.

February 20, 2018by david.taylor@colliers.com
Development

6-Storey Condo Building Proposed for Grandview Woodland Site

Bucci Developments has submitted their application to rezone a 22,229 SF land assembly at the Northeast corner of Garden Drive and East 10th Avenue in the Grandview Woodland area of East Vancouver.

The site is currently zoned RS-1 single family but has been redesignated in the Grandview Woodland Community Plan to allow medium density residential. The application seeks to permit the development of a 6-storey residential building. The proposal includes:

    • 68 condo units;
    • 1 studio unit, 39 one-bedrooms, 9 two-bedrooms and 19 three-bedrooms;
    • a total density of 2.65 FSR;
    • a building height of 66 ft.; and
    • 73 underground parking spaces on two levels.

This application is being considered under the Grandview-Woodland Community Plan.

The architect for the project is Rositch Hemphill.

February 20, 2018by david.taylor@colliers.com

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David Taylor - Senior Vice President @ColliersCanada. Chronicling investment and development activity in Vancouver. Views are my own.

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16 Apr

First Capital REIT acquired by Choice Properties and KingSett for $5.2-billion

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16 Apr

First Capital REIT --> Choice Properties REIT and Kingsett Capital are teaming up to acquire the Canadian real estate company in a deal valued at over $9 billion, including assumed debt. Choice Properties will acquire roughly five billion dollars worth of shopping centres, while

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16 Apr

West Vancouver condo project in receivership, causing 'heartbreak' in Dundarave

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9 Apr

Greater Vancouver commercial real estate transactions down 8.3% in 2025 via @westerninvestor

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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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