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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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

55-Unit Building Proposed for Little Mountain Area

A rezoning application has been submitted for a 5-lot land assembly at the corner of Quebec Street and East 33rd Avenue in the Little Mountain Adjacent Area of Vancouver. The site at 4906-4970 Quebec Street is currently zoned RS-1 but can be rezoned under the Little Mountain Adjacent Area Rezoning Policy.

The proposal consists of a 6-storey residential building over two levels of underground parking and includes:

  • 55 condo units;
  • a total density of 2.30 FSR;
  • a building height of 65 ft.; and
  • 64 underground parking spaces and 69 bicycle spaces.

The architect for the project is Cicozzi Architecture.

October 15, 2018by david.taylor@colliers.com
Condo, Development, Retail

32-Storey Tower Planned for Joyce Collingwood

Westbank has submitted their rezoning application for 5055 Joyce Street, a 16,000 SF site acquired from the YMCA in 2017 for $55,000,000, or $221 per buildable SF.

The site is currently zoned C-2C  but can be rezoned under the Joyce-Collingwood Station Precinct Plan. The proposal consists of one 32-storey mixed-use building over six levels of underground parking and includes:

  • 298 market condo units;
    • 146 one-bedrooms, 120 two-bedrooms & 32 three-bedrooms;
  • 11,100 SF of retail space;
  • a total density of 15.5 FSR;
  • a building height of 305 ft.; and
  • 197 underground parking spaces and 533 bicycle spaces.

The architect for the project is Perkins + Will.

October 15, 2018by david.taylor@colliers.com
Condo, Development

17-Unit Building Planned for Single Cambie Lot

A rezoning application has been submitted for a 69′ x 127′ corner lot at Cambie and West 35th Avenue. The site at 485 West 35th Avenue sold in December 2017 for $8,500,000, or $394 per buildable SF.

The proposal is for a rezoning based upon the Cambie Corridor Plan, and consists of a 6-storey market residential building over one level of underground parking and includes:

  • 17 condo units;
  • a total density of 2.46 FSR;
  • a building height of 61 ft.; and
  • 21 underground parking spaces and 28 bicycle spaces.

 

The architect for the project is GUD Group.

October 15, 2018by david.taylor@colliers.com
Office, Retail

5-storey Office & Retail Building Planned for Robson Street Site

A development permit application has been submitted for a site at 1394 Robson Street, the former location of the Robstonstrasse Hotel, acquired by Asia Standard in July 2018 for $24,780,000.

The site falls within the West End Community Plan, allowing up to 8.75 FSR. The Zoning for the property is C-6, a West End Commercial District classification which permits a maximum gross floor area equal to 2.6 times the site area. For the full density the site reequires a minimum frontage of 39.6 meters.

An office and retail buildings is proposed for the site, details include:

  • 14,771 SF of retail on floors 1-3;
  • 9,966 SF of office on floors 4 & 5;
  • A total density of 2.86 FSR;
  • a building height of 65 feet;
  • one level of underground parking accessed from the lane.

Under the site’s existing C-6 zoning, the application is “conditional” so it may be permitted; however, it requires the decision of the Development Permit Board.

October 15, 2018by david.taylor@colliers.com
Condo, Development

Latest Phase of Port Royal Development to Include 87 Units

Aragon has submitted development permit applications for 310 Salter Street, the latest phase of their 42-acre Port Royal development in the Queensborough area of New Westminster. 

The site is located at the western end of Port Royal and is bounded by the Annacis Channel of the Fraser River and the Queensborough Perimeter Trail to the south. To the north is an existing lumber yard retail store and sawmill that is zoned Heavy Industrial (M-2). To the west of the site is a 91 unit secured market rental building as well as the Stanley Street Greenway. The rental building has an FSR of 1.6 and the height of the building is four storeys plus loft. To the east of the site is an 87 unit, mid-rise apartment building (four storeys plus loft) that is currently under construction with an FSR of 1.49.

The proposal for the subject 2.64 acre site includes:

  • 87 condo units;
    • 10 one-bedrooms, 54 two-bedrooms & 23 three-bedrooms;
  • a total density of 1.50 FSR;
  • a building height of 67 feet;
  • 154 parking spaces.
  • Mass timber – CLT construction.

Exterior hallways and staircases are proposed for each of the three buildings. These exterior hallways and staircases would be located within the site along the building faces facing the central courtyard and would not be visible from the street or adjacent buildings to the west and east.

 

October 1, 2018by 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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