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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Apartment, Development

140-Unit Rental Building Pitched for North Van Site

Tricor Pacific & Redic Developments have applied to the District of North Vancouver for a rezoning and OCP amendment to redevelop seven single-family lots in the Lynn Creek area of North Vancouver on Mountain Highway and Oxford Street, next door to Lynn Creek Apartments, completed in 2018.

The OCP designates the subject site as “Residential Level 6” (RES6) which
envisions medium-rise apartments at a density of up to approximately 2.5 FSR. The application proposes a higher density which will require the OCP amendment.

The plan for the 33,000 SF site is to build a new 6-storey rental building that includes:

  • 140 rental units;
  • 134 market rentals;
  • 6 non-market rentals;
  • 16 studios, 55 one-bedrooms, 64 two-bedrooms & 5 three-bedrooms;
  • a total density of 2.69 FAR;
  • 101 parking spaces on one underground level.

The architect for the project is Yamamoto Architecture.

July 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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