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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Development

57 Units Proposed for Lower Lonsdale Site

A rezoning application has been filed by Innovision Development for a site at 236-254 East 3rd Street in the Lower Lonsdale area of North Vancouver. The 24,025 SF site is located on the North side of East 3rd Street between St. Georges Avenue and St. Andrews Avenue.

The site is designated as Residential Level 5 which allows up to 2.60 FSR density with bonuses. It is currently improved with four older duplex buildings.

The plan for the site is a new 6-storey concrete building that includes:

  • 50 condo units;
  • 7 secured non-market housing units;
  • 31 one-bedrooms, 18 two-bedrooms and 8 three-bedroom units;
  • A total density of 2.34 FSR;
  • 63 underground parking stalls.

The application describes the building design: “The site is set within a high slope landscape. At the cellar level, ground oriented units are presented with patios facing East 3rd Street. These units, the main lobby to the west, and storage rooms behind are defined as “Cellar” under the bylaw and exempted from GFA. The second level wraps the lower level of parking and contains the townhouse units’ upper bedrooms as well as an additional amenity room for residents. The third level similarly wraps around the upper parking level. The 4th, 5th and 6th levels are presented as a double loaded corridor with apartments on either side of a hallway. The penthouse level has 5 three-bedroom units that are accessed from an exterior corridor set back from the top of the floor below. Each of these penthouse units has a stair and hatch accessing private patios on the roof.”

The architect for the project is DA Architects and Planners.

June 8, 2018by david.taylor@colliers.com
Development

40-Units Planned for Central Lonsdale Site

A rezoning application has been filed for a site at 117-125 West 23rd Street, between Lonsdale and Chesterfield Avenue in the City of North Vancouver. The site, currently occupied by two duplexes and a single family house, is identified in the City’s OCP as Residential Level 5, which allows a density up to 2.60 FSR.

The plan for the 15,990 SF site is to rezone to allow a new 5-storey condo building that includes:

  • 40 condo units;
  • 7 one-bedrooms, 28 two-bedrooms & 5 three-bedrooms;
  • a total density of 2.35 FSR;
  • one level of underground parking with 34 stalls.

The application describes the design rationale of the project: “The proposed building would have a contemporary west coast design, with a mix of glass, lapped siding, and masonry materials. The massing of the five storey woodframe building would be broken down into a one-storey base, a three-storey mid-section and a one-storey top level expression.”

The architect for the project is Raymond Letkeman Architects.

June 8, 2018by david.taylor@colliers.com
Development

FOR SALE: RM-9 Zoned Development Site

We are pleased to introduce this 18,654 SF site in Marpole which is zoned to allow up to 4-storeys, 2.0 FSR. The site enjoys a great location on a quiet street just steps to the Marine Gateway Skytrain Station. Contact us for further details.

 

Download the brochure here: BRO 7971-8007 Columbia Street – E Copy

June 8, 2018by david.taylor@colliers.com
Development, Office

55,000 SF Office & Industrial Building Proposed for Mt. Pleasant

A development application has been filed with the City of Vancouver for permission to develop a site at 2238 Yukon Street, at the corner of West 6th Avenue. Currently the site is occupied by a vacant, single storey retail store which will be demolished.

The plan is for a new 4-storey, mixed-use building with manufacturing use located on the 1st and 2nd storeys and general office use located on the 2nd, 3rd and 4th storeys, consisting of:

  • a total of 54,492 SF of floor space;
  • a density of 3.0 FSR;
  • a total building height of 60 ft.;
  • 3 levels of underground parking with vehicular access from the lane.

The application describes the design rationale: “The building’s massing is divided into two volumes, anchored by two vertical towers housing the stairs. The southwest tower includes a glazed wall to the feature stair, providing visibility of animation throughout the day. Adjacent to this and following the verticality, a glazed recess marks the main entrance on Yukon Street. The fin walls of the towers will be clad in brick, referencing the masonry cladding material of the neighbouring BC Hydro building and the industrial context.”

Under the site’s existing I-1 zoning, the application is “conditional” so it may be permitted; however, it requires the decision of the Director of Planning.

The architect for the project is: Proscenium Architecture + Interiors Inc.

June 8, 2018by david.taylor@colliers.com

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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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