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

Revised Proposal for West End Tower Site Includes Rental & Social Housing Units

Strand Development has submitted a new rezoning application for a site they own at the corner of Burnaby and Thurlow Street in the West End.

The 17,286 SF site at 1068-1080 Burnaby Street was originally envisioned as a 30-storey luxury condo & social housing project at 9.01 FSR, and was approved for rezoning in 2018, though the zoning was never enacted.

More recent planning policy adopted by the City in 2022 allows for more flexibility in the delivery of rental housing in this subarea.

The new application is for a 34-storey residential building and includes:

  • 287 market rental units;
  • 10% residential floor area for social housing (approximately 24 units);
  • 6,600 SF floorplates;
  • A total density of 12.25 FSR;
  • A building height of 295 ft; and
  • 125 vehicle parking spaces and 515 bicycle parking spaces.

This application is being considered under the Criteria for 100% Secured Rental and Below-Market Housing as an Alternative to Inclusionary Social Housing in the Burrard Corridor of the West End Community Plan.

The architect for the project is BOP Architects.

May 5, 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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