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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Apartment, Development

Infill Rental Tower Proposed for West Van Apartment Property

A rezoning application has been submitted to add rental apartments to an existing rental apartment property at 1552 Esquimalt Avenue in West Vancouver. Ambleside Towers is a 21-storey, 185 unit concrete highrise built in 1970 on a nearly two acre site. The plan calls for the addition of new rental units on the underutilized Western portion of the site.

The application was initially made in 2016 but put on hold as part of West Vancouver’s revised OCP process. The proposal was brought forward again in late 2018 and now seek public input.

The proposal includes the following:

  • a new 17-storey rental apartment tower;
  • 131 rental units (including 20 ground oriented units)
    • 16 studios, 60 one-bedrooms, 54 two-bedrooms & 1 three-bedroom unit;
  • a total combined site density of 2.99 FAR;
  • a total building height of 170 ft.;
  • 83 new parking spaces (for a total on site of 208)

The architect for the project is Buttjes Architecture.

May 10, 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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