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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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Apartment, Condo, Development

Redevelopment Eyed for 7-Acre Taylor Way Site In West Vancouver

A preliminary development proposal has been submitted to the District of West Vancouver for a large property known as Taylorwood Place at the Northeast corner of Taylor Way and Keith Road.

Taylorwood Place is a 21-lot single family bare strata subdivision built in the 1970’s. A single entity, Taylorwood Investments Ltd., owns 19 of the 21 lots and is seeking to control 100% in the near future. 

The 6.56 acre site has been the subject of past attempts at redevelopment, including in 2010 by Polygon Homes who were seeking to build 160 condos on the site at a density of 0.75 FAR. For various reasons, that plan did not proceed.

Current planning efforts have been underway since 2015 and have been delayed pending a forthcoming Taylor Way Corridor study which is likely to occur by 2020. The proponent is now seeking community feedback and is offering public benefits in exchange for an OCP amendment.

After various stages of community consultation since 2017, the current version of the development proposal is summarized as follows:

  • 390 units (condo and rental, with at least 40% of the units rental);
  • 473,000 SF of gross buildable area;
  • a total density of 1.66 FAR;
  • five terraced mid-rise apartment forms (3-6-storeys);
  • community facilities including childcare;
  • underground parking.

Council will consider the direction of a preliminary development proposal for Taylorwood Place at its meeting on July 15, 2019. A rezoning application has not been received at this time.

The architect for the project is NSDA Architects.

July 11, 2019by 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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