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, Retail

231-Unit Condo Project Slated for Oak Street Site

A rezoning application has been submitted by Enrich Developments to the City of Vancouver for a 68,313 sq ft. site at the Southwest corner of Oak Street and West 64th Avenue in Marpole.

The site is an assembly of 12 single family homes.

The proposal calls for the development of three buildings of 6 to 8-storeys in height, and includes:

  • 231 condo units;
  • 1 studio, 106 one-bedrooms, 102 two-bedrooms & 22 three-bedrooms;
  • 11,000 sq ft of ground floor retail space;
  • A total density of 3.10 FSR;
  • Building heights of 70 ft, 75 ft. and 95 ft.;
  • 272 vehicle parking spaces and 497 bicycle parking spaces.

The application is being considered under the Marpole Community Plan.

The architect for the project is Arno Matis Architecture.

The site was sold in 2017 for $57,000,000 or $269 per buildable sq ft based on the rezoning application.

July 14, 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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