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

175-Unit Rental Project Planned for Mount Pleasant Site

Fastmark Developments has submitted one of the first rezoning applications for a site in the Broadway Plan.

The 20,139 SF site at 523-549 East 10th Avenue is currently improved with five single family lots. The site is located on the North side of East 10th between St. George Street and Carolina Street, five blocks East of Main Street in Mount Pleasant.

The site is located in an area of the Broadway Plan (MRTB) which allows up to 5.50 FSR and 18-storeys, with a minor increase in height and density considered in exchange for ground level childcare space.

The proposal for the site is to allow for the development of a 19-storey mixed-use building that includes:

  • 175 total units;
  • 142 market rental units;
  • 33 below market rental units (20% of floor area);
  • Private childcare space for 25 children;
  • A total density of 6.0 FSR;
  • A building height of 329 ft.; and
  • 110 vehicle parking spaces and 344 bicycle spaces.

The architect for the project is GBL Architects.

The full rezoning application can be viewed here.

September 12, 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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