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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Condo, Retail

Final Seylynn Village Tower to Include 274 Units

A development permit application has been filed for the third phase and final tower at Seylynn Village, a 5.7 acre site that will total 790 units and commercial space when completed. The original rezoning for the site in the Lynn Creek area was approved in 2012 and the development has been ongoing since that time with the soon to be completed 28-storey Compass tower, and the already completed Beacon building as well as a 6-storey non-market rental building. The total density for Seylynn Village at rezoning is 3.2 FSR.

Our team acted in the sale of the site in 2011.

The final building, entitled “Apex” will be located at the intersection of Mountain Highway and Fern Street.

Details of the 32-storey tower include:

  • 274 condo units;
  • 113 one-bedrooms, 122 two-bedrooms, 38 three-bedrooms & 1 four-bedroom;
  • 8,782 SF of retail space fronting Mountain Hwy;
  • a total building height of 322 feet;
  • 373 parking stalls on two underground levels.

 

July 5, 2018by david.taylor@colliers.com
Condo, Office, Retail

Mixed-Use Project Proposed for No. 3 Road & Lansdowne

Townline has applied to the City of Richmond for permission to rezone a 97,400 SF site on the west side of No 3 Road in Richmond. The assembly of four lots is located at the corner of Lansdowne Road, across from Lansdowne Centre. The lots are improved with older lowrise commercial buildings including the Milan Ilich Arthritis Research Centre. The site sits directly South of another large scale rezoning proposal currently in the latter stages of approval, named ‘Atmosphere‘, and directly across from the Lansdowne Canada Line Station.

The proposal calls to rezone the properties at 5591,5631,5651 and 5671 No.3 Road to “High Density Mixed Use – Lansdowne Village (City Centre)” in order to permit a high-density commercial, office and residential use development.

The proposal is for a new mixed use development comprised of a podium and tower form of development with below and above grade parking, ground level commercial, a signature 12-storey office tower and three 10-storey residential towers.

Details include:

  • 365 residential units;
    • 354 condos;
    • 20 affordable housing units (low end market rental);
  • 19,279 SF of retail space on the ground level;
  • 77,740 SF of office space;
  • a total density of 4.0 FAR;
  • A 6,000 SF on-site community facility;
  • Dedication for new north-south road on West side of site;
  • Design, construction and transfer to the City of the area of the site designated for the Lansdowne linear park;
  • 548 parking spaces (below and above grade).

 

The architect for the project is Musson Cattell Mackey Partnership.

July 5, 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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