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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Condo, Development

A Rare Sighting: A 100% Condo Tower in the Broadway Plan

Bastion Development has submitted a rezoning application for their site at Arbutus & West 10th Avenue for a 20-storey condo tower. The site at 2120-2150 West 10th Avenue is 17,248 SF and located just one block from the Arbutus Station.

A previous proposal for the site in 2021 was for a 5-storey condo building with 42 units under existing zoning.

The project is the first application under the Broadway Plan seeking 100% condo use. Most sub-areas of the Plan require rental, or a mix of condo and social housing. This particular sub-area, known as Kitsilano Arbutus Broadway Sub area C, allows for 100% condo with a CAC payment.

Details of Bastion’s proposal for the site is a 20-storey tower that includes:

  • 86 condo units;
    • 71 two-bedrooms, 12 three-bedrooms & 3 townhouses;
  • 3,900 SF of retail space on the ground floor;
  • a total density of 6.93 FSR;
  • A building height of 217 ft.
  • 144 parking stalls on 4 underground levels.

The rezoning will require a CAC payment, yet to be determined.

The architect for the project is Arcadis.

The full application can be viewed here: https://www.shapeyourcity.ca/2120-2150-w-10th-ave

November 6, 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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