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

Burquitlam Land Assembly Slated for 144 Units

A rezoning and development permit application has been submitted by Vanhome Properties to the City of Coquitlam for the development on two separate, 4-lot land assemblies, eight lots in total, on Madore and Dansey Avenues between Guilby and Westview Streets

The OCP designation for the 32,300 SF site is Medium Density Apartment Residential in Burquitlam Lougheed Neighbourhood Plan (BLNP).

The proposal for the combined site includes two 6-storey condo buildings separated by the existing lane. Details include:

  • 144 units
    • 44 one-bedrooms, 72 two-bedrooms & 28 three-bedrooms;
  • a total density of 2.21 FAR;
  • 214 underground parking stalls;
  • $389,000 in voluntary Community Amenity Contributions (CACs)

The architect for the project is Van Der Zalm + Associates.

Vanhome acquired the site in 2017 for $21,700,000 or $152 per buildable SF.

April 17, 2020by 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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