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, Office, Retail

Morguard Proposing 2,175 Condo & Rental Units for Burquitlam Plaza Site

Morguard has submitted a significant high density mixed-use project, in the
Burquitlam-Lougheed Neighbourhood Plan area of Coquitlam, immediately adjacent to the Burquitlam SkyTrain Station.

Their development application for redevelopment of the 7.9 acre Burquitlam Plaza Shopping Centre site, located at the northeast corner of Clarke Road and Smith Avenue, goes to council for preliminary approval next week.

The project includes 6 residential towers, of 53, 43, 33, 33, 29 & 29-storeys in height, with retail and office space. The proposal includes:

  • 2,195 residential units (potentially all rental, or condo & rental);
  • 84,626 sq ft of office & retail space;
  • a total density of 5.50 FAR;
  • a total density of 1.9 Million SF;
  • a one acre, at grade urban courtyard.

Given the scope of the project and the number of elements to be addressed, it is estimated that the application could proceed for consideration of First Reading at Council in the second half of 2022.

September 24, 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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