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

Brookfield Planning Rental Tower for Previous Condo Site

Brookfield Properties has submitted rezoning and development permit applications to the City of New Westminster for a highrise rental development at 810 Agnes Street in the Downtown area.

The site had previously been proposed in 2018 for a 29-storey condo tower by a previous owner.

The site is located in the Downtown neighbourhood and is adjacent to Agnes, Victoria and Blackie Streets. The subject sites is located 75 metres from the New Westminster SkyTrain Station. The site is designated in the OCP as Residential High Density.

The new proposal for the site includes a 33-storey market rental apartment tower, that includes:

  • 352 market rental units;
    • 104 studios, 114 one-bedrooms, 115 two-bedrooms & 19 three-bedrooms;
  • a total density of 9.40 FSR;
  • 169 parking spaces;
  • a commemorative community park at 824 Agnes.

The architect for the project is IBI Group.

April 21, 2023by david.taylor@colliers.com
Apartment, Condo, Development, Retail

Proposal for Lynn Valley Safeway Redevelopment Includes 417 Units, New Store

Crombie REIT has unveiled the latest design plan for redevelopment of the Lynn Valley Safeway site at 1170 East 27th Avenue in North Vancouver.

A preliminary application for redevelopment of the 2.8 acre site was first submitted in 2021. The design has now been revised and is ready for early input at District of North Vancouver council.

The proposal for the site is a mixed-use development with multiple residential buildings above a replacement Safeway store.

Details of the proposal include:

  • 417 residential units;
  • 269 condo units & 148 rental units (including below market/social);
  • building heights from 6-12 storeys;
  • a total density of 3.5 FSR;
  • 607 underground parking stalls;
  • a new 43,604 SF Safeway store;
  • 1,840 SF of new retail space.

The next step for the project will be a formal rezoning application.

April 21, 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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