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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Condo, Development

123 Condo Units Proposed for Maillardville Site

Porte Homes has submitted a Rezoning and Development Permit application to facilitate the development of a two building condo project in the Maillardville area of Coquitlam.

The 0.23 acre site is comprised of an existing older strata townhouse property located north of Brunette Avenue, between Lebleu Street to the west and Nelson Street to the east.

The proposed rezoning is from RM-1 to C-5 per the Maillardville
Neighbourhood Plan (MNP) which designates the site as Neighbourhood
Centre.

The proposal calls for two woodframe condo buildings at 7-storeys and 5-storeys, including:

  • 123 condo units;
  • 67 one-bedrooms, 44 two-bedrooms and 12 three-bedrooms;
  • a total density of 2.25 FAR;
  • 177 underground parking stalls.

The application describes the design rationale: “The design of the buildings incorporates distinct French architectural features, including a contemporary interpretation of mansard roofs. A colour palette of white, grey, charcoal, iron, and black is proposed, with materials including masonry, painted cementitious panels, standing seam metal cladding, architectural concrete, simulated wrought iron elements, prefinished painted aluminum trim, and clear glass guardrails.”

The architect for the project is Formwerks.

Porte acquired the site in 2018 for $9,000,000 or $89 per buildable sq ft.

May 7, 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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