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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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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Development, Hotel

33-Storey Hotel Proposed for Granville Street Site

Deecorp Properties has submitted a rezoning application for an 18,000 SF site that they own at the Northwest corner of Granville & Davie Streets in Downtown Vancouver.

The site had been the subject of a previous development application for a 7-storey rental apartment building in 2016. That application did not proceed.

The new proposal is for the development of a 33-storey hotel building with a four-storey podium. The proposal includes:

  • 464 hotel rooms;
  • Commercial space in the podium levels;
  • A floor space ratio 21.79 FSR;
  • A building height of 380 ft.; and
  • 33 vehicle parking spaces and 60 bicycle spaces.

The application is being considered under the Granville Street Interim Rezoning Policy.

The architect for the project is MCMP Architects.

October 31, 2023by david.taylor@colliers.com
Apartment, Development

Broadway Office Proposal Revised as Rental Apartments

Chard Development has applied to the City of Vancouver to revise their office project at 8 East Broadway to switch uses to rental residential.

The site is located at the southeast corner of East Broadway & Ontario Street in the ‘Broadway Shoulder Area East – Area B (MBSB)’ sub-area of the Broadway Plan.

A previous rezoning for the site was approved in 2020 for a 12-storey office building totaling 125,000 SF. Changing market conditions and the subsequent adoption of the Broadway Plan has prompted Chard to seek an alternate development scenario for the 16,100 SF site.

The new proposal is to permit a 14-storey rental residential building, including:

  • 152 market rental units;
  • 55 studios, 42 one-bedrooms, 38 two bedrooms & 17 three-bedrooms;
  • 4,200 SF of retail space on the ground floor;
  • Floorplates ranging from 7,300 to 11,700 SF;
  • A total density of 7.5 FSR;
  • A building height of 148 ft.;
  • 74 vehicle parking spaces and 320 bicycle spaces; and
  • A publicly accessible bike share station.

The Broadway Plan requires a minimum of one floor of ‘job space’ above the ground floor. The application by Chard is requesting consideration of market rental on the second floor, which is a deviation of policy.

The architect for the project is MCMP Architects.

The site was acquired in 2021 for $42,000,000, or $336 per buildable SF based on the revised application.

October 31, 2023by david.taylor@colliers.com

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David Taylor - Senior Vice President @ColliersCanada. Chronicling investment and development activity in Vancouver. Views are my own.

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16 Apr

First Capital REIT acquired by Choice Properties and KingSett for $5.2-billion

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gravitasmsn MN @gravitasmsn ·
16 Apr

First Capital REIT --> Choice Properties REIT and Kingsett Capital are teaming up to acquire the Canadian real estate company in a deal valued at over $9 billion, including assumed debt. Choice Properties will acquire roughly five billion dollars worth of shopping centres, while

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16 Apr

West Vancouver condo project in receivership, causing 'heartbreak' in Dundarave

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9 Apr

Greater Vancouver commercial real estate transactions down 8.3% in 2025 via @westerninvestor

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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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