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, Condo, Development

Revised Metrotown Proposal Envisions 40-storey Tower

Intracorp has submitted a revised rezoning application to the City of Burnaby to add more height and units to an already appproved project called “Telford on the Walk” at 6537 & 6521 Telford Avenue.

In January 2021, the subject site received final adoption for a rezoning application for a 37 storey condo building and a 6-storey market and affordable rental building based on RM5s and RM5r guidelines.

The revised application seeks the following changes:

  • addition of 4 typical floors;
  • removal of one penthouse level floor, a reduction from seven penthouse levels to six;
  • increase in overall density from 6.33 FAR to 6.83 FAR;
  • total of 366 condos, 59 affordable rental units & 7 market rental units;
  • net addition of 34 condo units;
  • increased building height from 380 ft. to 411 ft.;
  • conversion of 3 market rental units to affordable rental;
  • reduction in two parking stalls and additional of one accessible stall.

The architect for the project is NSDA Architects.

April 23, 2021by 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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