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

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
Development

46-Storey Tower Proposed for West Georgia ‘Flatiron’ Site

Anticipated for well over a year now, Brilliant Circle Group has submitted their detailed rezoning application for one of Downtown Vancouver’s most prominent sites. 1445 & 1455 West Georgia, currently occupied by two older office buildings, is located where Georgia and Pender Streets merge, forming a triangle or flatiron shape. The site is considered a gateway to Downtown and is permitted extra height under the General Policy for Higher Buildings.

BCG had filed a preliminary inquiry in 2015 for the 18,158 SF site that was acquired via two separate acquisitions in 2013 & 2014 . The more detailed submission seeks to allow for a 46-storey residential development. The proposal includes:

  • a building height of 514 ft.;
  • a total density of 14.2 FSR;
  • 128 market residential units;
  • 76 two-bedrooms, 41 three-bedrooms, 9 four-bedrooms and 2 five-bedroom units
  • 74 of 128 units have balconies
  • seven levels of underground parking.

The building design features some interesting floor layouts and structural features intended to reduce clutter on the ground floor while providing seismic reinforcement.

1455 W Georgia1455 W Georgia_11455 W Georgia_31455 W Georgia_71455 W Georgia_41455 W Georgia_51455 W Georgia_6This application is being considered under the General Policy for Higher Buildings.

Tower details include:

  • The tower includes 40 residential floors elevated above the ground plane approximately 80 ft
  • The residential floors are supported on an 8 ft thick transfer slab
  • Four amenity floors are suspended from the transfer slab
  • Private dining level
  • Children’s play area and residential lounge
  • Fitness centre
  • Upper fitness area and sub mechanical and electrical rooms, required to service the high building height
  • Access level from Georgia St. for residents
  • Main lobby level and arrival porte cochere at the Pender St. level
  • Upper underground level accommodates bicycle storage, BC Hydro project vista, main mechanical and electricalservice rooms, and visitor parking
  • Seven residential parking levels with storage lockers and car wash facilities

The architect for the project is James Cheng Architects.

February 7, 2017by david.taylor@colliers.com
Development

FOR SALE: Norquay Village Development Site

I am pleased to introduce this opportunity to acquire a residential development site in the Norquay Village area of East Vancouver. The site has rezoning potential to allow an 8-10 storey building and approx. 73,500 SF buildable.

2768 KingswayPlease download the brochure for an overview of this opportunity here: Brochure

February 6, 2017by david.taylor@colliers.com
Apartment, Development

Broadway & Alma Site Slated for Rental Development

Westbank Corp. has filed their rezoning application for the 23,234 SF site at the Northwest corner of Broadway and Alma Street. The site at 3701-3743 West Broadway is currently zoned C-2 and is currently improved with an old strip retail property.

The rezoning proposal is for a 6-storey mixed-use project, which includes:

    • 94 secured market rental units;
    • 59 studios, 1 one-bedroom, 33 two-bedrooms, 1 three-bedroom
    • 7,190 SF of retail space
    • A total density of 3.15 FSR;
    • A building height of 64 ft.; and
    • 99 parking spaces.

3701 West Broadway3701 West Broadway_13701 West Broadway_23701 West Broadway_3This application is being considered under the Affordable Housing Choices Interim Rezoning Policy. The architect for this project is Henriquez Partners.

The site was acquired by Westbank in 2011 for $9,443,000 or $121 per buildable SF based upon the current rezoning application.

February 6, 2017by 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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