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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Development

197 Units Proposed for Burquitlam Site

Allaire Living and Headwater Projects has submitted an OCP Amendment and Rezoning Application for a new multi-family residential project at the southwest corner of Rochester Avenue and Guilby Street in the Burqultlam-Loughheed Neighbourhood Plan area, approximately 750 metres from the Lougheed Town Centre SkyTrain Station.

Plans for the land assembly of 10 single family lots totaling 2.1 acres includes four new multifamily buildings up to 7-storeys in height with two townhouse buildings, and the retention of 3 heritage houses. Details include:

  • 197 units;
  • 110 one-bedrooms, 42 two-bedrooms & 40 three-bedrooms;
  • Retention of 3 heritage single family homes;
  • a total density of 1.82 FAR;
  • 233 parking spaces.

The OCP amendment is required to change the land use designation of the western portion of the site from Townhousing to Medium Density Apartment Residential . This change to the land use designation would allow apartment buildings on this portion of the site, to accommodate additional density to offset costs associated with the restoration and retention of three heritage homes.

The architect for the project is Integra Architecture.

September 11, 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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