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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

411 Units Planned for Lynn Valley Site

Mosaic Homes has filed a rezoning application for the site they own in Lynn Valley Town Centre known as Emery Place, a 5.1 acre site that is currently improved with a 61-unit apartment complex. 

The site is designated within the District of North Vancouver’s Official Community Plan as Residential Level 6: Medium Density Apartment which allows density up to 2.50 FSR.

The proposed redevelopment of the site includes:

  • Four buildings (Two 12-storey concrete midrises and two woodframe lowrises);
  • Townhouses;
  • 411 total units (84 rental units & 327 strata units);
  • 109 one-bedrooms, 165 two-bedrooms, 132 three-bedrooms and 5 four-bedrooms;
  • A total density of 2.17 FSR;
  • Four phases:
    • Phase One: 6-storey, 87-unit rental building (incl. 23 non-market rental)
    • Phase Two: Two 12-storey concrete buildings with 220 strata units
    • Phase Three: 64 townhouses in six buildings
    • Phase Four: A 5-storey, 61-unit woodframe strata building
  • A total of 619 parking spaces;
  • An extension of Emery Place Road to align with envisioned road network;
  • New pathway to Kirkstone Park and improvement to trails;
  • A CAC of $11,900,000 paid in four phases.

It is expected that the entire project would be completed by 2024.

Mosaic acquired the site in 2016 for $39,550,000.

The architect for the project is Ramsay Worden.

March 16, 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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