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, Retail

Burnaby Rezoning Update

Two rezoning applications of note are going to first reading at Burnaby City Council next week:

Tower 6 – Amazing Brentwood

This rezoning application by Shape Properties is for the detailed design
and construction of the sixth tower in the overall Amazing Brentwood Project. The overall master plan for the project was approved in 2013 and the first five towers are at various stages from completed and occupied to under construction.

Tower 6 will be located at the Northwest corner of the site, fronting Willingdon. It is currently surface parking.

The proposal for Tower 6 is a 39 storey residential tower, inclusive of a 4 storey rental podium with commercial at grade. Details include:

  • 443 residential units;
  • 369 condos;
  • 21 market rental units;
  • 53 non-market rental units;
  • 32,000 sq ft of retail space fronting Willingdon & Brentwood Blvd;
  • an overall density of 9.67 FAR.

6615 Telford Avenue

This site is located within the Maywood neighbourhood of the Metrotown Downtown Plan. The property is currently improved with an older 54-unit, 3-storey apartment building.

A rezoning application for the site was originally submitted in 2019 although has now been revised to reflect the City’s new Rental Use Zoning Policy.

The proposal is for a 31-storey condo building and a separate 6-storey replacement/non-market rental apartment building. Details include:

  • 261 condo units;
  • 54 non-market rental units;
  • 34 market rental units;
  • a total density of 5.71 FAR;
  • 358 underground parking spaces.
May 30, 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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