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

31-Unit Condo Building Slated for West 49th Ave

A rezoning application has been submitted by Ning Hua Development for a two lot land assembly on West 49th Avenue, just West of Cambie Street.

The proposal for the 13,677 SF site at 564-570 West 49th Avenue is to rezone from the current from the current RS-1 zoning to allow a new 4-storey residential building with rooftop amenity, over one level of underground parking and includes:

  • 31 condo units;
    • 6 studios, 13 one-bedrooms, 8 two-bedrooms & 4 three-bedrooms;
  • a total density of 1.95 FSR;
  • a building height of 65 ft.; and
  • 31 underground parking spaces and 40 bicycle spaces.

The application is being considered under the Cambie Corridor Plan.

The architect for the project is Fougere Architecture.

The site was acquired in 2016 for $6,600,000, or $233 per buildable SF based on the rezoning application.

August 22, 2019by david.taylor@colliers.com
Condo, Development, Retail

131-Condo Building Proposed for East Hastings Site

Reliance Properties has submitted a rezoning application for a site on East Hastings Street in the Grandview Woodland area of East Vancouver.

The 29,158 SF site, 1943-1967 East Hastings Street, is located at the northwest corner of Semlin Drive and East Hastings Street, three blocks from Commercial Drive. It is currently zoned MC-2 and improved with one-storey commercial buildings including: an auto repair shop, sushi restaurant, pharmacy and social club.

The proposal consists of an 8-storey mixed-use building over three levels of underground parking and includes:

  • 131 condo units;
    • 65 studios, 21 one-bedrooms, 39 two-bedrooms & 13 three-bedrooms;
  • 18,246 SF of commercial space at grade;
  • a total density of 4.01 FSR;
  • a maximum building height of 86 ft.; and
  • 169 underground parking spaces and 300 bicycle spaces.

This application is being considered under the Grandview-Woodland Community Plan.

The architect for the project is Dialog.

August 22, 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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