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, Rental, Retail

Robson Street Site to be Redeveloped for Two Rental Towers with 393 Units, Retail

GWL Realty Advisors Inc. has applied to the City of Vancouver for permission to redevelop the 264 ft. of frontage that they own in the 1500 Block of Robson Street at 1525-1555 Robson, at the corner of Cardero Street.

The site is an assembly of two separate site acquisitions, with the latter of the two at 1555 Robson acquired in April 2024 out of foreclosure, for $58 Million.

The plan for the combined site is two rental towers, 29-storeys and 28-storeys, with retail uses at grade. Details include:

  • 393 market rental units;
  • 40,000 SF of retail space on two levels (1.2 FSR);
  • a total density of 9.625 FSR;
  • four levels of underground parking with 251 parking stalls.

The application is “conditional” so it may be permitted. However, it requires the decision of the Development Permit Board.

The architect for the project is Arcadis.

November 14, 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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