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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Development, Retail

Mixed-Use Building Proposed to Replace Part of Burnt Down Kits Site

A development application has been filed for a 50 lot which was part of a multiple building fire in Kits in July 2018. The site, formerly occupied by Euro-Line Appliances, is the Western 50 ft. lot and has been sitting vacant since that time.
 
The new development, entitled ‘The Highbury’ envisions a three-and-a-half -storey mixed-use building with residential above retail under the site’s C-2 zoning, having vehicular access from the lane. The proposal includes the following:
 
  • 4 residential units;
  • 3,175 SF of retail in two CRUs;
  • a total density of 2.33 FSR;
  • a building height of 45 ft.
  • four parking spaces at the lane.

Under the site ’s existing C-2 zoning, the application is “conditional” so it may be permitted; however, it requires the decision of the Director of Planning.

The architect for the project is BURO47 architecture inc.

April 4, 2019by david.taylor@colliers.com
Condo, Development

First Cambie Phase 3 Townhouse Application Seeks 30 Units

The first townhouse development application has come forward under the Cambie Corridor Phase 3 Plan, which was adopted by city council in the summer of 2018. Close to 1,000 lots were designated for townhouse development, with a small portion rezoned to RM-8A by the City as a first ‘zone’ for immediate development.

Redekop Kroeker Development has applied to the City of Vancouver for permission to develop a 5-single family lot land assembly on West 29th Avenue is just West of Cambie Street. The site at 535 West 29th Avenue is 34,761 SF in size.

The plan for the site is for eight 2 & 3-storey courtyard rowhouse buildings, and includes:

  • 30 three bedroom units;
  • a total density of 1.20 FSR;
  • total building height of 38 ft.;
  • 42 parking spaces on one underground level.

Under the site’s existing RM-8A zoning, the application is “conditional” so it may be permitted; however, it requires the decision of the Director of Planning.

The architect for the project is Gateway Architecture.

April 4, 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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