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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Development

168-Unit Project Proposed for Capstan Village Area of Richmond

Polygon Homes has applied to the City of Richmond for permission to rezone
lands in the City Centre’s Capstan Village area at 3551,3571,3591,3611, and 3631 Sexsmith Road, between Capstan Way and Cambie Road, to allow a new 13-storey high-rise residential development. The combined site totals 89,044 SF (67,000 after road dedication) in size and is comprised of five vacant single family lots.

The site is designated Urban Centre T5 in the City of Richmond’s City Centre Area Plan. The project lies just East of Polygon’s completed three tower project “Avanti”.

Details of the project, entitled “Fiorella” include:

  • 157 condo units;
  • 7 studios, 17 one-bedrooms, 112 two-bedrooms & 32 three-bedrooms;
  • 11 affordable rental units;
  • 779 SF of community amenity space in the form of two rentable-affordable-work studios for professional artists;
  • a total density of 2.62 FAR;
  • a total building height of 133 ft.

The architect for the project is Francl Architecture.

April 12, 2018by david.taylor@colliers.com
Development

FOR SALE: 37,500 SF Cambie Townhouse Development Site

We are pleased to introduce this five-lot land assembly on West 26th Avenue, just West of Cambie and just steps to King Edward Canada Line Station. The lots will be rezoned by the City of Vancouver to allow townhouse development up to a density of 1.20 FSR.

Please download the brochure Brochure – 533-581 West 26th Ave – E Copy, or contact us for further details. 

April 11, 2018by david.taylor@colliers.com
Development, Retail

Third Tower for Pearson Dogwood Site Includes 177 Units

Onni Group has applied to the City of Vancouver for permission to develop Parcel C of the Pearson Dogwood site. This is the second development application submitted for the 25 acre rezoned site, with the first being Parcel A, submitted for approval in February.
 
Parcel C is located on the North side of the overall site, on the south side of West 57th between Cambie Street and Heather Street. The plan is for a 27-storey mixed-use building that includes the following:
 
  • 171 market dwelling units;
  • 66 one-bedrooms, 99 two-bedrooms and 5 three-bedrooms;
  • 6 Pearson supportive units;
  • 17,500 SF of retail on Level 1, community health centre on Levels 1-4 and child daycare on Level 4;
  • a building height of 292 ft.;
  • 330,593. sq.ft. of floor area; and
  • four levels of underground parking accessed from a new internal street.

April 10, 2018by david.taylor@colliers.com
Development

38 Rental Units Proposed for Commercial & Adanac Site

A rezoning application has been submitted for a 10,704 corner site in the Grandview Woodland area of East Vancouver. The site is currently zoned RM-4N and is located at the Southwest corner of Commercial Drive and Adanac Street. The site sits directly West of the long anticipated Kettle Society/Boffo redevelopment.
 
The rezoning proposal is to permit the development of a 6-storey passive house mixed-use building. The proposal includes:
 
    • 38 market rental units;
    • 3 studios, 7 one-bedrooms, 14 two-bedrooms & 6 three-bedrooms;
    • 4,053 SF of retail on the ground floor facing Commercial Drive;
    • a density of 3.0 FSR;
    • a height of 73.7 ft.;
    • 23 underground parking spaces; and
    • 56 bicycle stalls.

This application is being considered under the Grandview-Woodland Community Plan.

The architect for the project is Cornerstone Architecture.

April 2, 2018by david.taylor@colliers.com
Apartment, Development, Retail

203 Units Planned for Park Royal South

A rezoning application has been filed by Larco with the District of West Vancouver for the former Whitespot property at the Southwest corner of Marine and Taylor Way, part of Park Royal South. The rezoning had been proposed several times over the past six years, but was ultimately facilitated by the City’s passage of the Marine Drive Local Area Plan in 2017. The combined 2.3 acre site includes fee simple lands, as well as leasehold lands belonging to Squamish First Nation.

The proposed plan includes two residential buildings as well as commercial space. Details include:

  • two buildings of 11 and 14-storeys in height;
  • 203 total units including:
    • 143 condo units
    • 60 rental units (49 market and 11 non-market);
  • 20,000 SF of retail space (plus 9,800 SF of retail on SFN lands);
  • 3,900 SF of childcare space;
  • a total density of 2.25 FAR;
  • a 3,100 SF public plaza;
  • 251 underground parking spaces.

The architect for the project is DIALOG.

March 30, 2018by 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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