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 Building Proposed for Brighouse Village Area of Richmond

An rezoning application has been submitted to the City of Richmond for a 109,969 SF site in the Brighouse Village area of Richmond’s City Centre.

The site, located at the intersection of Park Road and Buswell Street, is currently occupied by lowrise commercial buildings including the strip retail plaza “Park Village”. it is slated for rezoning under the City of Richmond’s City Centre Area Plan which designates the site as Urban Core T6, allowing a conditional density up to 4.0 FAR.

The owners of the site are Grand Long Holdings Canada Ltd. & Park Village Investments Ltd.

The plan for the site calls for a large mixed-use development including two residential towers and one office/residential tower on a commercial podium with street-oriented commercial and retail uses fronting Park Road and Buswell Street at ground level. Further details include:

  • 339 residential units including 21 affordable rental units;
  • 58,605 SF of office space;
  • 43,791 SF of retail and restaurant space;
  • A total density of 3.86 FAR;
  • A new 4,000 SF public plaza on the South side of the property;
  • 618 total parking spaces.

The architect for the project is WT Leung Architects.

 

 

June 6, 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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