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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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

MST Proposing 150-Unit Townhouse Development For West Vancouver Site

The MST Development Corporation has submitted a preliminary development application for a former Department of Fisheries and Oceans property at 4165-4195 Marine Drive in West Vancouver.

The site is approximately 5 acres and is located on Marine Drive near Burkehill Road and is currently vacant and unimproved.

The preliminary proposal for the site includes three 3-storey townhouse buildings above an underground parkade. Details include:

  • 150 townhouse units;
  • 30% one-bedrooms, 45% two-bedrooms & 25% three-bedrooms;
  • a total density of 0.73 FSR;
  • 165 underground parking stalls.

The proposal is being considered under Official Community Plan policy 2.1.4, which aims to increase missing middle housing options with ground-oriented, multi-family dwellings on appropriate sites along the Marine Drive transit corridor. 

The MST Development Corporation is a partnership of the Musqueam Indian Band, Squamish Nation and Tsleil-Waututh Nation. The site was acquired from the Federal Government as part of a joint venture with Canada Lands in 2014 along with the Jericho Lands and the Heather Lands.

A website for the project can be accessed here.

October 19, 2021by david.taylor@colliers.com

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David Taylor - Senior Vice President @ColliersCanada. Chronicling investment and development activity in Vancouver. Views are my own.

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David Taylor Personal Real Estate Corporation

Colliers International

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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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