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

Latest Brentwood Proposal Includes 164 Units

Amacon is proposing a 22-storey condo tower in the Brentwood area of Burnaby. First proposed back in 2017, the project site is located at 4455 Alaska Street, currently improved with an older industrial building. The total site area is 40,786 SF.

The Brentwood Town Centre Development Plan designates the subject site for high-density multiple-family residential development based on the RM4s Multiple Family Residential High Rise Apartment Tower with Street-Oriented Townhouses as a guideline, up to a maximum of 3.60 FAR.

The proposed development concept is for a single 22-storey tower above
structured and underground parking, with ground oriented townhousing fronting Alaska
Street. Details include:

  • 164 Units;
    • 18 studios, 58 one-bedrooms, 70 two-bedrooms & 12 three-bedrooms;
  • a total density of 3.60 FAR;
  • 182 parking spaces.

December 10, 2018by david.taylor@colliers.com
Condo

Phase 2 of Concord Brentwood to Include 825 Units

The rezoning application for Phase 2 of Concord Pacific’s Concord Brentwood project is moving to first reading. The overall project master plan was approved by the City of Burnaby in 2016, with individual phases requiring detailed rezoning applications.

The first phases of the project (1a and 1b) are currently under construction and summarized as follows:

  • Hillside West – two towers (44 & 49-storeys), 892 units. Sold out in early 2018.
  • Hillside East – two towers (55 & 45-storeys), 900 units. Over 90% sold out.

Phase 2 of the site is located within the “Flatlands” subarea of the overall site, and fronts the future Dawson Street extension and Yukon Crescent. Phase 2 totals 204,000 SF and consists of two high-rise residential buildings, one mid-rise residential building, a low-rise residential podium, common amenities (super club), and street oriented retail uses atop, and fronting, underground and structured parking.

Details include:

  • A 45-storey tower, a 50-storey tower, and an 18-storey tower
  • 825 total condo units;
    • 247 one-bedrooms, 438 two-bedrooms & 218 three-bedrooms;
  • 50,000 SF of retail space (0.25 FAR);
  • A 31,000 SF “Super Club” serving all phases of the project that includes fitness space with gym, pool, bowling alley & spa.
  • A total density of 4.97 FAR;
  • 1,001 underground parking spaces;
  • New roadways including:
    • Extension of Dawson Street
    • Construction of Douglas Road/Delta Avenue and Lougheed Hwy intersection
    • New pedestrian and cycling routes

December 10, 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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