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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Development

120 Rental Units Pitched for Oakridge Site

Align Properties (formerly Vivagrand Properties) has submitted a rezoning application for a four-lot land assembly in the Oakridge Town Centre area at 5589-5661 Baillie Street, between West 39th and West 41st Avenues.

The site is 30,000 sq ft in total and comprises four single family houses.

The site is within the Cambie Corridor OCP, Oakridge area designed for 6-Storey secured rental apartment developments up to 2.5 FSR. The new zoning would be based on RM-9.

The proposal is to allow for the development of two 6-storey rental buildings that include:

  • 120 market rental units;
    • 48 studios, 28 one-bedrooms & 44 two-bedrooms;
  • A total density of 2.50 FSR;
  • A building height of 65 ft.;
  • 76 vehicle parking spaces and 170 Class A bicycle parking spaces

The application is being considered under the Cambie Corridor Plan.

The architect for the project is Integra Architecture.

October 21, 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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