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

19-Unit Building Planned Half Block From Stanley Park

Marcon has submitted a development application for 2030 Barclay Street, the site of the 27-unit Rosellen Suites Hotel. The existing building on the site has been operated as a hotel, which means that the zero rate of change provisions in the area for rental accommodation does not apply. Therefore, the site can be developed as a market condominium project.The 99 x 131 foot site is located just half a block from Stanley Park.

The proposal for the redevelopment of the site is a new 10-storey concrete building that includes the following:

  • 19 condo units;
  • 14 two-bedrooms and 5 three-bedrooms;
  • A building height of 190 ft.;
  • A total density of 3.03 FSR;
  • Three levels of underground parking accessed from the lane with a total 40 parking spaces.

The application describes the design rationale: “The concept is to develop a project that caters to families with all of the units in the 2,000 sf range and having 2 bedrooms and a den typically, with private outdoor spaces.

The project contains 19 residential units broken down into a number of discreet elements in order to give a more human scale and better relate to the surrounding buildings. Inspired by most of the buildings in the West End, the proposed architecture is unabashedly modern, but residential scaled windows and warm textured materials, including masonry, gives the appropriate character for this area of the city.”

Under the site’s existing RM-5B zoning, the application is “conditional” so it may be permitted; however, it requires the decision of the Development Permit Board.

The architect for the project is SHIFT Architecture.

September 11, 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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