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

Application Submitted for 48-Storey, 374-Unit Barclay Street Tower

The formal rezoning application has been submitted by Pacific Northern Developments for the site at 1063-1075 Barclay St, the initial designs for which were released at an online open house last month.

The proposal is to allow for the development of a 48-storey residential building under the rezoning guidelines in the West End Community Plan. The proposal includes:

  • 374 residential units;
    • 295 condo units;
    • 79 social housing units;
  • A total density of 19.1 FSR;
  • Building height of 469 ft.;
  • Five levels of underground parking with 357 vehicle parking spaces and 770 bicycle parking spaces.

The architects for the project are ACDF Architecture & IBI Group.

The site, currently occupied by an older 7-storey condo building, was acquired in 2018 for $113,000,000, or $343 per gross buildable SF based on the rezoning application.

July 7, 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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