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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, Development, Retail

103 Rental Units Slated for Kingsway Site

Rize Alliance has submitted a rezoning application for 810 Kingsway, a 24,800 SF site currently occupied by Sammy’s Flooring.

The proposal for the site is a 6-storey rental building under the City of Vancouver’s Secured Market Rental Housing (Rental 100) Policy.

Details include:

  • 103 market rental units;
  • 31 studios, 36 one-bedrooms, 29 two-bedrooms & 7 three-bedrooms;
  • 11,210 SF of retail space at grade;
  • a total density of 3.62 FSR;
  • a maximum height of 72 ft.; and
  • 92 underground parking stalls and 193 bike spaces.

The application describes the design rationale: “The C-2 guidelines have informed building stepbacks along Kingsway and rear-yard setbacks towards the lane. The intersection of Kingsway and Prince Albert Street is oblique, creating a flat iron condition. At this prominent corner, we are proposing a six story element that folds away from the Kingsway frontage, providing a visual landmark as well as space for a landscaped, publicly accessible plaza.
The grade of the site slopes steeply down from Kingsway south along Prince Albert Street. This grade change allows us to insert two-level townhouses fronting the lane without raising the building height relative to Kingsway. The five, three-bedroom, two-level townhouses along the lane provide valuable ground-oriented rental units suitable for families. These townhouses help to create a transition to the single-family homes to the south while providing animation and passive surveillance along the lane.
“

The architect for the project is Yamamoto Architecture.

April 28, 2020by 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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