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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

Unique 8-Storey Condo Building Planned for Ambleside Site

A preliminary development proposal has been submitted by Delta Land Development for an 8,000 SF site at the Southwest corner of Bellevue and 22nd Street in the Ambleside area of West Vancouver. The site is currently improved with an older duplex and is zoned for Duplex use.

The West Vancouver OCP supports consideration of rezoning proposals which promote low-carbon construction prior to Ambleside Municipal Town Centre Local Area Plan adoption

The Delta proposal for the site is an 8-storey mass timber, passive house building. Key features include:

  • 7 condo units
  • all full-floor, 2,700 SF, 2-bed/3-bath units with south facing balconies;
  • a total density of 2.40 FAR;
  • Communal ground floor features including lobby, bicycle storage, powder room, & multi-purpose amenity area;
  • a building height of 103 ft.
  • 18 underground parking stalls on two levels.

The application describes the environmental performance of the building: “In terms of proposed environmental performance, the project aims for passive certification and zero emissions, both operational and embodied through sequestered carbon storage in the mass-timber structure. In order to achieve this, the building would generate energy through solar photo-voltaic panels and employ a geoexchange heat transfer system to provide efficient heating and cooling throughout the building. Heat recovery ventilators, passive house certified windows, thermal insulation and attentive building design, including unit layout and window to wall ratio also contribute to the building energy performance. Additional features include green roofs and associated water collection reducing demand for grid-supply, solar hot water production and compliance with the bicycle storage and electric vehicle requirements.”

City staff are recommending that the development proposal proceed to public consultation prior to the adoption of the Ambleside Municipal Town Centre Local Area Plan.

The architect for the project is Perkins + Will.

June 3, 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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