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, Development, Rental

Arbutus Ridge: 6-Storey Rental Proposed for Single Lot at 2150 West 16th Avenue

The City of Vancouver is reviewing an application to rezone 2150 West 16th Avenue from R1-1 to CD-1 to permit a 6-storey, 100% market rental building. The site is a single 50-foot, mid-block lot on the south side of West 16th Avenue between Yew Street and Arbutus Street in Arbutus Ridge.

The application is being considered under the City’s Transit-Oriented Areas (TOA) Rezoning Policy. The site sits about 695 metres from the future Arbutus Station on the Broadway Subway, inside the 800-metre Tier 3 radius, where the policy supports six to eight storeys and up to 3.0 FSR for secured rental. The applicant is PCubed (P Square Engineering and Construction), with B Squared Architecture as architect.

  • Replaces a 1944 single-family house with a six-storey, wood-frame rental building
  • 24 market rental units: 16 two-bedroom (avg. ~865 SF) and 8 three-bedroom (avg. ~1,036 SF)
  • 2.89 FSR (about 21,695 SF)
  • 60 ft in height
  • Open-air exterior corridors and a single exterior stair
  • Rooftop amenity deck plus an indoor amenity room on level two
  • Underground parkade off the lane with 12 stalls (9 regular, 2 accessible, 1 shared loading) and 63 bike spaces
  • Envelope Pathway under the Green Buildings Policy, with electric heat pumps
  • CAC exemption sought under the TOA policy’s low-density provisions

Most TOA rental rezonings on the west side rely on assembling two or more lots. This one tests whether a single 7,496 SF lot can carry a six-storey rental building on its own, and the TOA policy sets no minimum lot size in Tier 3.

Full rezoning application: https://www.shapeyourcity.ca/2150-w-16-ave

October 20, 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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