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, Condo, Development

Beedie Envisions 1,000+ Units for Bainbridge Area Site

Beedie Living has submitted an application to rezone a 10-acre site that they own at 3676 Bainbridge Avenue in the Bainbridge Urban Village area of Burnaby.

The site is currently improved with older lowrise industrial buildings zoned M2 and M5 industrial.

The site became designated for mixed use residential when the Bainbridge Urban Village Community Plan was adopted by the City of Burnaby in 2022.

The preliminary application indicates that the overall development will include “a mixture of 6-storey below-market rental buildings, 6-12 storey strata buildings, and 4-storey stacked townhomes.”

Other details include:

  • 1,000 – 1,100 residential units;
  • 20% affordable rental units at 20% below CMHC median rents;
  • a total density of 2.20 FAR (970,000 SF)
  • road upgrades and new public green space.

The site has a current assessment value of $80,789,300.

This site is located near a similarly designated development site that we have just listed at 7022-7036 Greenwood Street.

October 17, 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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