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, Development

Third Space Planning 99 Rental Units for West 4th Site

Third Space has submitted a development application for the former gas station site at the Northeast corner of West 4th Avenue and Macdonald in Kits.

The 22,256 SF site is zoned C-2, which now allows 6-storey development for rental apartments.

The proposal includes:

  • 99 market rental units;
    • 15 studios, 43 one-bedrooms, 41 two-bedrooms;
  • 15,000 SF of retail space;
  • A proposed density of 3.70 FSR;
  • A proposed height of 71.7 ft.;
  • Two levels of underground parking, providing a total of 107 parking spaces having vehicular access from the lane

Under the site’s existing C-2 zoning, the application is “conditional” so it may be permitted. However, it requires the decision of the Director of Planning.

The architect for the project is Yamamoto Architecture.

February 16, 2023by 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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