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, Office

5-Storey Office/Industrial Building Planned for Mt. Pleasant

Wesgroup Properties has applied to the City of Vancouver for permission to develop a 15,098 SF, I-1 zoned site at the Southwest corner of Manitoba Street and West 5th Avenue in Mount Pleasant.

Details of the proposal include:

    • a 5-storey, mixed-use building with Wholesale use on the 1st and 2nd floor and office use on the 3rd, 4th and 5th floor,
    • cast in place concrete walls;
    • 13 foot floor-to-floor heights;
    • a fully programmed, high quality rooftop with fitness and recreational amenities such as urban agriculture and multi-sport court;
    • two levels of underground parking having vehicular access from the lane.

110 West 5th 110 West 5th_1

Under the site’s existing I-1 zoning, the application is “conditional” so it may be permitted; however, it requires the decision of the Director of Planning.

The architect for the project is Taylor Kurtz.

The full application can be viewed here.

September 25, 2017by david.taylor@colliers.com
Development

FOR SALE: 18,750 SF Townhouse Development Site

We are pleased to introduce this 3-lot land assembly in the Cambie Corridor Phase 3 townhouse area. The 18,750 SF (150′ x 125′) site is ideally situated on a quiet, tree-lined street (West 28th) between Cambie & Oak and represents an ideal townhouse development opportunity.

817-837 West 28th AvenueDownload the brochure here: Brochure – 800 Block West 28th Ave 

September 21, 2017by david.taylor@colliers.com
Development

Details Emerge for BlueSky’s Two Tower West End Project

BlueSky Properties has submitted their formal rezoning applications for two linked sites across the street from each other on the East side of Thurlow Street on Harwood.

The two towers would be 32 and 33-storeys respectively, comprise a total of 300 units and would be rezoned from the current RM-5A zoning to a CD zoning per the West End Community Plan, which allows for 300 ft. towers between Thurlow and Burrard.

1065 Harwood

Details for each site include:

1065 Harwood Street and 1332 Thurlow Street (North Site)

The proposal is for a 33-storey residential building including:

    • 59 market residential units on floors 18-33;
    • 98 social housing units on floors 2-18;
    • 64 one-bedrooms, 30 two-bedrooms and 49 three-bedrooms;
    • a total density of 10.46 FSR;
    • five levels of underground parking with 157 vehicle parking stalls and 197 bicycle parking spaces; and
    • a building height of 300 ft.

1066 & 1078 Harwood Street (South Site)

The proposal for the South site is for a 32-storey residential building with:

    • 143 market residential units;
    • 64 one-bedrooms, 30 two-bedrooms and 49 three-bedrooms;
    • a total density of 10.11 FSR;
    • six levels of underground parking with 236 vehicle parking stalls and 180 bicycle parking spaces; and
    • a building height of 300 ft.

1065 Harwood_6 1065 Harwood_5 1065 Harwood_4 1065 Harwood_3 1065 Harwood_2 1065 Harwood_1The architect for the project is Henriquez Partners.

September 20, 2017by david.taylor@colliers.com
Development

FOR SALE: Cambie Phase 3 Townhouse Development Site

We are pleased to introduce this 60′ x 125′ corner lot on a quiet street at West 26th Avenue and Ash Street in the Cambie Corridor. 

594 West 26thFor more information, please download the brochure here: Brochure – 594 West 26th Ave

September 18, 2017by david.taylor@colliers.com
Apartment, Development

70-Unit Rental Project Planned for East Van Site

The Molnar Group has submitted a rezoning application for a 47,674 SF site at the corner of Hull Street and East 20th Avenue in East Vancouver.  The plan for the lots at 3560-3570 Hull Street and 2070-2090 East 20th Avenue is to rezone from the existing RS-1 to permit a 3.5-storey development containing townhouses, an apartment and a retained heritage house.

The proposal includes:

    • 70 secured market rental units
    • 41 3-bedroom townhouses, 28 one-bedroom apartment units, and one 2-bed heritage house);
    • A total density of 1.53 FSR;
    • A maximum height of approximately 50 ft.;
    • Relocation and designation of an existing heritage house at 2088 East 20th Avenue; and
    • 82 underground parking spaces.

3560 Hull3560 Hull_2 3560 Hull_3 3560 Hull_1

This application is being considered under the Affordable Housing Choices Interim Rezoning Policy. The rezoning policy is relatively unknown even among the development community; it allows for higher densities for “affordable” rental or social housing on or near arterial streets. In this case, the large single family lots helped facilitate the proposal.

The architect for the project is Wensley Architecture.

Molnar acquired the site in July 2016 for $13,375,000, or $183 per buildable SF based on the application.

September 13, 2017by 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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