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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Development, Rental, Retail

Westbank Submits Application for Rental & Social Housing Towers on East Hastings Sites

Westbank, in partnership with Promerita and BC Housing have submitted a rezoning application for three non-contiguous sites in the 1000 and 1100 Block of East Hastings Street in the Downtown Eastside area of Vancouver.

The sites are located at 1030-1070 East Hastings, 1115-1127 East Hastings and 1168-1180 East Hastings.

The City of Vancouver has received an application to rezone the subject site from M-1 to CD-1 to allow the development of three towers and 924 units on these sites:

  • Two rental towers, 39 & 38-storeys (767 market rental units)
  • A 19-storey seniors housing tower to be owned by BC Housing;
  • Commercial space on the ground floor;
  • A total density of 23.3 FSR.

The application is being considered under the Downtown Eastside Plan. The application requests consideration of height and density in excess of the existing policy.

The architect for the project is ZGF Architecture.

The full application can be viewed here: https://www.shapeyourcity.ca/1030-1070-e-hastings-st

September 8, 2024by 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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