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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Condo, Development, Retail

37 Family-Oriented Units Proposed for Strathcona Site

A rezoning application has been submitted for a 25,265 SF site at 1102-1138 East Georgia Street in East Vancouver, which is currently improved with four older lowrise industrial buildings. The site is currently zoned I-2 Industrial, but the area falls within the Downtown Eastside Community Plan, allowing a mix of uses, including residential. Allowable density in the neighbourhood has been identified for up to 2.50 FSR for mixed-use proposals in the I-2 zone through a rezoning.

The proposal is for a 4-storey mixed-use family-oriented development, including:

    • 37 residential units (20% are social housing);
    • 2 studios, 4 one-bedrooms, 1 two-bedroom & 30 three-bedrooms;
    • a total density of 2.50 FSR; and
    • 16,145 of creative/production/retail space on the ground floor.

The application describes the design rationale: “The proposed development massing steps down from the western edge of the site at the intersection of Glen and East Georgia towards the adjacent RT-3 zoned homes to the east, providing an appropriate transition in scale in the context of the neighbourhood. The massing is in keeping with the eclectic mixed-use community of Kiwassa East and through this form enhances the diversity of housing and commercial opportunities.”

The housing partner for the project is ANHART Foundation.

This application is being considered under the Downtown Eastside Community Plan.

The architect for the project is Ekistics Architecture.

August 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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