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

Tower 4 at Onni’s Gilmore Place Revised from Office to Residential

Onni has submitted a rezoning application for the next phase of their Gilmore Place project in the Brentwood area of Burnaby. The first two condo towers have received occupancy in 2024. The first phase includes three towers.

Phase 2 of the project also includes three towers. The first tower of this phase was originally envisioned as a highrise office tower, but has now been revised to residential.

Onni is proposing to deliver the non-market inclusionary units envisioned in the second and third phase in Tower 4, originally envisioned as a 30-storey office tower, and now a 65-storey, 759 unit residential tower.

The revised proposal for Tower 4 includes:

  • 509 condo units;
  • 250 non-market rental units;
  • a 2-storey commercial podium;
  • a 7-level parkade that will serve all of Phase 2 (three towers).
February 21, 2025by 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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