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

Revised Proposal for East Van Site Seeks Lower Density, 100% Rental

Intracorp has submitted a new rezoning application for a 29,100 SF site they own at 1837-1849 E 11th Ave and 2631 Victoria Drive, this time with a lower woodframe building and 100% rental use.

A previously rezoning application for the site was approved in 2018 for a 11-storey, 138-unit mixed 50/50 condo/rental building on the site at a density of 3.59 FSR. Due to “market forces”, that application has now been rescinded and replaced with the new more efficient and likely more cost effective project.

The new proposal calls for a 6-storey market rental building and a 4-storey revitalized heritage house.

This proposal includes:

  • 136 market rental units;
  • 81 studios, 6 one-bedrooms, 47 two-bedrooms & 3 three-bedrooms;
  • A total density of 2.89 FSR;
  • A building height of 65.0 ft.;
  • 43 vehicle parking spaces and 270 bicycle parking spaces.

The application is being considered under the Grandview Woodland Community Plan.

The architect for the project is Metric Architecture.

November 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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