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

53-Unit Rental Building Planned for Kingsway Near Fraser

The latest on a long list of Kingsway Rental 100 rezoning applications comes for a site at the corner of Kingsway and East 15th Avenue, just West of Fraser Street.

610-644 Kingsway is an assembly of several older lowrise commercial buildings on the South side of the street, zoned C-2C. The curved site totals 13,830 SF. 

Details include:

  • 53 secured market rental units;
  • 9 studios, 19 one-bedrooms, 19 two-bedrooms & 6 three-bedrooms;
  • 7,151 SF of ground floor retail;
  • a total density of 3.75 FSR;
  • a building height of 69 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 Studio One Architecture.

The full rezoning application can be viewed here: http://rezoning.vancouver.ca/applications/610kingsway/index.htm

February 27, 2018by david.taylor@colliers.com
Development, Retail

6-storey Building Proposed for Revitalized Hollywood Theatre Site

A proposal has been submitted to the City of Vancouver to restore and revive the Hollywood Theatre. 4184 Investments Ltd. has applied for a development permit to add a 6-storey residential building while restoring the adjacent theatre building. The combined site area is 16,743 SF and the site is zoned C-2C which allows a density up to 3.0 FSR and 4-storeys.

The Hollywood Theatre building was originally built in 1935 and closed in 2011 after the building was finally sold by the Fairleigh family. There have been various community efforts to save the theatre since that time.

 The current proposal includes the following:

    • 40 condo units – “The Hollywood Residences”;
    • 6 studios, 13 one-bedrooms, 16 two-bedrooms & 5 three-bedrooms;
    • 4,423 SF of new ground floor retail space;
    • A total density of 3.19 FSR;
    • Building height of 67 ft.;
    • A restored theatre building;
    • Two levels of underground parking accessed from the lane with a total of 47 parking spaces.

Within the application, the owners provide an overview of the plan for the new theatre: “We will re-introduce The Hollywood Theatre back into Vancouver’s consciousness by creating and operating a beautifully renovated, state-of-the-art performing arts centre dedicated to bringing the creative arts to the local community.

As well as live entertainment ticketed events such as live music performances, live theatre, movie screenings, tech events and corporate and private functions we welcome local community producers, non-profit organizations and special interest groups wishing to hold their event at the Hollywood Theatre. This will also include hosting special free to-the public events produced by local producers.”

Full details on their proposed operating plan can be viewed here: http://development.vancouver.ca/3133wbroadway/documents/perspectiveoperatorsbusinessplan.pdf

Under the site’s existing C2-C zoning, the application is “conditional” so it may be permitted; however, it requires the decision of the Development Permit Board. The full development application can be viewed here: http://development.vancouver.ca/3133wbroadway/index.htm

The architect for the project is Marianne Amodio Architecture Studio, Inc.

February 27, 2018by 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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