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

Rezoning Application Proposes 26-Storey Condo Tower for Oakridge Petro Canada Station

The City of Vancouver has received a rezoning application for 5680 Oak Street, the Petro Canada station at the corner of Oak Street and West 41st Avenue.

Project details:

  • 26-storey condo tower
  • 193 condo units
  • 4,070 SF of ground-floor retail space
  • 10.92 FSR density
  • Building height of approximately 281 ft.
  • Five levels of underground parking

Unit mix:

  • 1 studio — avg. 492 sq. ft.
  • 46 one-bedroom — avg. 521 sq. ft.
  • 47 one-bedroom + den — avg. 641 sq. ft.
  • 48 two-bedroom — avg. 820 sq. ft.
  • 51 three-bedroom — avg. 981 sq. ft.

The application also proposes to amend the Vancouver Official Development Plan (ODP), adopted by Council on March 31, 2026, changing the site’s Generalized Land Use designation from Mixed-Use Mid-Rise to Mixed-Use High-Rise 1. The proposal is being considered under both the ODP and the Cambie Corridor Plan, which designates 13+ storey mixed-use towers for sites in this part of the corridor.

The site sits within walking distance of the Oakridge-41st Avenue Canada Line Station and the Oakridge Mall redevelopment, an area the City has identified as a key growth node along the Cambie Corridor as it transitions from low-rise commercial into a denser, transit-oriented district.

The architect for the project is MCM Architects.

Full application: https://www.shapeyourcity.ca/5680-oak-st

September 3, 2026by david.taylor@colliers.com

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David Taylor Personal Real Estate Corporation

Colliers International

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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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