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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Development

33-Unit Project Planned for Chinatown

James Schouw and Associates has applied to the City of Vancouver for permission to develop on a 6,098 SF site next to Beedie’s controversial project at Keefer and Columbia. The plan for the existing vacant site is for a 10-storey mixed-use building with commercial uses on the first two floors and residential uses above. The proposal includes :

  • 33 residential units;
  • total floor area of 49,323 SF;
  • 8,000 SF of commercial space;
  • building height of approximately 88 ft.; and
  • 3 levels of underground parking containing 39 parking spaces.

129 Keefer_2 129 Keefer_1 129 KeeferThe plan also calls for the commercial space to have frontage on both the Keefer side and the laneway.

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

February 27, 2017by david.taylor@colliers.com
Apartment, Development

Infill Apartment Building Planned for Arbutus Corridor

Strand Development has submitted a rezoning application for a 10,881 SF site on West 12th Avenue, next to the Arbutus greenway. The site is currently improved with an older commercial building occupied by Blenheim Import Auto Service. 

The plan for the site calls to rezone from the existing C-7 commercial zoning to permit the development of a 6-storey residential building. The proposal includes:

    • 48 rental apartment units;
    • 3 studios, 20 one-bedrooms, 15 two-bedrooms and 10 three-bedrooms
    • A total density of 3.47 FSR
    • A building height of 63.75 ft.; and
    • 20 underground parking spaces.

2075 West 12th2075 West 12th_2 2075 West 12th_1 The application is being made under the Rental 100 policy.

The architect for this project is Yamamoto Architecture.

February 20, 2017by david.taylor@colliers.com
Apartment, Development

Infill Tower Planned for North Van Apartment Property

A preliminary rezoning application has been submitted by Chard Development in order to add much needed rental apartment density to an existing apartment property in the Central Lonsdale area of North Vancouver.

1441 St. George’s Avenue is a rental apartment building at St. Georges and East 15th Street. The existing building is 14-storeys with a 2-storey commercial podium. The building contains 80 rental residential units and 52 commercial units.

The rezoning application is proposing to rezone the property to allow for the construction of a new rental tower on the West side of the site, including:

  • a 23-storey rental tower
  • 175 new rental units
  • 10 studios, 111 one-bedrooms, 114 two-bedrooms, 20 three-bedrooms (combined)
  • a total combined density of 6.29 FSR
  • purchase of 85,156 SF of density at $115 per SF

The site is currently zoned Central Lonsdale Mixed Use ‘C-1B’, which allows for a density of 2.60 FSR. The site is designated Mixed Use Level 4B land use in the Official Community Plan (OCR), which allows for an FSR of up to 3.0 with the potential for a density bonus of an additional 1.0 FSR.

1441 St. Georges1441 St. Georges_2

1441 St. Georges_3 1441 St. Georges_1 The architect for the project is MCM Partnership Architects.

The property sold in September 2016 for $37,500,000, or $310,000 per existing unit.

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

FOR SALE: Potential Cambie Townhouse Development Site

We are pleased to introduce this 5-lot land assembly in the Phase 3 area of the Cambie Corridor. The site has potential to be redeveloped for ground-oriented housing in the forthcoming Phase 3 of the Cambie Corridor Plan.

533-581 West 26th AvePlease contact us for further information. Brochure: Bro_West 26th Assembly Final E

February 9, 2017by david.taylor@colliers.com
Development

Onni Submits Plan for Final Phase of Suter Brook

Onni Group has submitted a plan to the City of Port Moody’s Community Planning Advisory Committee in order to move forward with their final phase of the City’s largest master-planned community: Suter Brook Village. The project is located on the eastern edge of Port Moody.

The first phases, completed just over 10 years ago, comprise a total of 959 units, as well as over 300,000 SF of retail and office space.

Parcel D, the final phase of the project, is located just north of the recently opened Inlet Centre Skytrain station. The plan for Parcel D includes:

  • a 26-storey tower and two 4-storey lowrise buildings
  • 290 units
  • average unit size of 900 SF
  • outdoor pool, BBQ area and children’s play area
  • a total amenity package of $1.5 Million

Suter Brook_1Suter Brook_3Suter Brook_4Suter BrookSuter Brook_2The architect for the project is Ciccozzi Architecture.

February 8, 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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