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, Retail

150-Unit Rental Building Planned for East Hastings

A rezoning application has been submitted for a site at the Northwest corner of East Hastings and Penticton Street in East Vancouver, currently occupied by London Drugs and an adjacent vacant lot being used as a community garden.

The application is by Hastings Sunrise Development Ltd., a company with the same address as London Drugs’ head office.

The 39,601 SF site at 2585 East Hastings Street has 320 ft. of frontage on the North side of Hastings, more than half a city block, and is currently zoned C-2C. The proposal is to allow for the development of a 6-storey mixed-use building that includes:

  • 150 market rental units;
  • 45 studios, 59 one-bedrooms & 46 two-bedrooms;
  • 29,800 SF of retail space at grade including a new London Drugs store;
  • A total density of 3.54 FSR;
  • A building height of 72 ft.;
  • 147 vehicle parking spaces and 315 bicycle parking spaces.

The application is being considered under the Secured Market (Rental 100) Housing Policy

The architect for the project is Rositch Hemphill.

December 22, 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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