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

145-Unit Terraced Condo Building Proposed for Port Moody Site

Atti Group has submitted an OCP amendment and rezoning application for a 4.3 acre site in Port Moody. The site was previously given third reading in 2012 pending geotechnical, stormwater and environmental reports for development permit approval. Subsequently, the site was sold in 2018.

The site is located at the southwest corner of Buller Street and Henry Street. It is bounded by Coquitlam to the south, unopened City of Port Moody road right-of-way to the east, undeveloped medium-density townhouse residential (RM4) lots across Henry Street to the north, and older Multi family to the west.

The site itself is vacant and primarily covered with second growth forest at a steep grade of 25-35%. 

The proposal is a unique U-shaped, terraced 11-storey terraced residential development, including:

  • 145 condo units;
  • A total density of 1.33 FAR;
  • a 1.2 acre park dedication;
  • $870,000 CAC;
  • 268 parking spaces on three levels of underground parking.

With the grade of the site, the building is up to 6-storeys in height above grade at any given point.

A video rendering of the project can be viewed here:

The architect for the project is Ankenman Marchand.

February 12, 2019by 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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