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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Development, Office, Retail

Mixed-use Development Planned for Brighouse Village Area of Richmond

Bene Richmond Development Ltd. has applied to the City of Richmond to rezone a site at 6560 – 6700 No.3 Road from the “Downtown Commercial (CDT1)” zone to a new site-specific zone in order to permit the development of a new mixed-use development in the City Centre’s Brighouse Village. The Official Community Plan (OCP) designates the subject site as “Downtown Mixed Use”. 

The 47,286 SF site is currently improved with a single-storey strip retail plaza known as Time Square. The site sits directly across from Richmond Centre, which is currently embarking on an ambitious redevelopment plan.

The proposed project would see two residential towers (8 & 11-storeys) all above a 4-storey podium containing parking, office, retail and restaurant uses.

Details of the proposal include:

  • 166 residential units (157 market and 9 affordable housing)
  • 14,278 SF of retail and restaurant space;
  • 33,008 SF of office space;
  • A total density of 4.0 FAR.

 

The architect for the project is Dialog.

May 17, 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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