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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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, Retail

Port Moody Site Slated for 204 Units + Retail

A rezoning application has been submitted by Mosaic Homes for a new development at 3015-3093 Murray Street in the Moody Centre area of Port Moody. The site is located on lands with the relatively new “Mixed Employment” OCP land use designation.

The 100,000 SF site currently vacant and being used for construction storage. This area has traditionally been an industrial area in transition. The site is in close proximity to the Moody Centre SkyTrain and West Coast Express station, though access is currently only possible via two circuitous routes, the pedestrian overpass accessed off Klahanie Drive or the Murray Street overpass, both of which are approximately one kilometre. If and when on overpass is constructed over the CPR line from the station area, the site will be between 200-300 metres from the station.

Mosaic is proposing to rezone the site from Light Industrial (M1) to allow three 6-storey mixed-use buildings located on a two-storey parkade that acts as a podium to the south abutting the CPR rail line and is wrapped with commercial retail units on the Murray Street and Electronic Avenue

Details include:

  • 204 condo units;
  • 102 one-bedrooms & 102 two-bedrooms;
  • 17,900 SF of ground floor retail;
  • a total density of 2.02 FAR;
  • 301 parking spaces;
  • 43,000 SF of outdoor amenity space on the parkade podium.

The application may require an OCP amendment as the intent of the Mixed-Employment designation was to include light industrial uses or second floor office space.

The architect for the project is Michael Green Architecture.

Mosaic acquired the site in 2017 for $18,300,000 or $88 per buildable SF based on the application.

May 27, 2020by david.taylor@colliers.com
Condo, Development

51-Unit Stacked Townhouse Development Envisioned for Mount Pleasant Site

A development application has been submitted for the Bethleham Lutheran Church site at the corner of East 15th and Sophia in Mount Plesant.

The 28,000 SF site is zoned RM-4.

The application seeks a 3-storey residential building clustered around a shared courtyard, containing:

  • 51 units;
  • a mix of garden flat studios, and 1, 2 & 3 bedroom units;
  • a total density of 1.43 FSR;
  • a building height of approximately 38 ft.; and
  • 36 underground parking spaces, having access from the lane.

The application describes the design rationale: “The massing is primarily conceived as a series of smaller blocks that interface with 15th Avenue and Sophia Street and Tea Swamp Park, while also serving to activate the lane. A U-Shaped massing, the building responds to its corner condition, facing both 15th Avenue and Sophia Street, while also acknowledging its lane-side.“

Under the site’s existing RM-4 zoning, the application is “conditional” so it may be permitted; however, it requires the decision of the Director of Planning.

The architect for the project is Marianne Amodio + Harley Grusko Architects Inc.

May 27, 2020by david.taylor@colliers.com

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David Taylor - Senior Vice President @ColliersCanada. Chronicling investment and development activity in Vancouver. Views are my own.

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16 Apr

First Capital REIT acquired by Choice Properties and KingSett for $5.2-billion

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16 Apr

First Capital REIT --> Choice Properties REIT and Kingsett Capital are teaming up to acquire the Canadian real estate company in a deal valued at over $9 billion, including assumed debt. Choice Properties will acquire roughly five billion dollars worth of shopping centres, while

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16 Apr

West Vancouver condo project in receivership, causing 'heartbreak' in Dundarave

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9 Apr

Greater Vancouver commercial real estate transactions down 8.3% in 2025 via @westerninvestor

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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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