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: West End Development Opportunity

We are pleased to introduce this 17,292 SF redevelopment opportunity at the corner of Thurlow and Burnaby Street in the West End of Vancouver. The assembled site has potential for rezoning for a 300 foot residential tower per the West End Community Plan, and is one of the last remaining opportunities to develop in this sub-area without view cone restrictions.

1318-thurlowDownload the brochure here: bro_1318-thurlow-assembly-e.

Please contact us for further details.

October 13, 2016by david.taylor@colliers.com
Development

Construction Update: Vancouver House

Here is the latest view of the construction site for Vancouver House, the 515 foot 52-storey condo tower being developed by Westbank.

After initially clearing the site began in December 2014, the construction is now almost at ground level.

Photos taken October 7, 2016:

d11f5ebe34b3ec632dea4a7fdda7f530courtesy mcminsen http://po.st/L8GQJ9 via @imageshack

c56774d20a1271bf0e36a593752ab0f3courtesy mcminsen http://po.st/zwhLhc via @imageshack

fd30f4dc743e62b2877201b7360a062bcourtesy mcminsen http://po.st/L2azqe via @imageshack

0fe6aaed9d77d7db8c761edaa40293eacourtesy mcminsen http://po.st/sbiKSr via @imageshack

October 8, 2016by david.taylor@colliers.com
Development

Townhouse Development Proposed for Oakridge Area

A rezoning application has been filed for a three single family lot land assembly at 5469-5507 Willow Street. The site is directly adjacent the Oakridge Transit Centre site which sold earlier this year and anticipates over 1,000 units.

The proposed rezoning for the 21,600 SF, RS-1 zoned property on Willow is for a stacked townhouse residential development that includes:

    • Three, 3-storey buildings over a single underground parkade;
    • 20 residential units;
    • a building height of 37 ft. from grade;
    • a total density of 1.20 FSR; and
    • 30 underground parking spaces and 25 bicycle spaces.

The application is being considered under the Oakridge Langara Policy Statement.

5469-willow 5469-willow_1The architect for the project is Yamamoto Architecture.

October 8, 2016by david.taylor@colliers.com
Development, Office

Industrial/Office Building Proposed for Mount Pleasant

Conwest Developments has applied to the City of Vancouver for permission to develop on a 6,039 SF site at the Southwest corner of Quebec and East 4th Avenue in the Mount Pleasant area of Vancouver. Plans include a 3-storey mixed use building consisting of:

    • Manufacturing uses on the first floor and mezzanine above;
    • General Office uses on the second and third floors;
    • an underground garage providing 15 parking spaces;
    • total density of 2.92 FSR;
    • peak height of 61 ft.

The site is zoned I-1, a zoning which was changed in 2014 to allow greater density for office use.

2005-quebec2005-quebec_12005-quebec_2

The architect for the project is MGBA Architecture.

October 5, 2016by david.taylor@colliers.com
Development, Market Research

Market Spotlight: Burnaby Rezoning Applications

A number of rezoning applications head to Burnaby City Council this week. Below is a brief summary of some of the larger projects planned.

4460-4482 Juneau Street

4460-juneauSolterra owns this three-lot assembly of older M1 zoned industrial buildings along Willingdon Avenue at Juneau Street in the Brentwood area. The plan for the site is a 25-storey tower with townhouses under the RM-4s designation. There is a 23-storey tower just across Juneau Street at second reading.


6525-6585 Sussex Avenue

6525-sussexThe plan for this 57,116 SF Metrotown site at Sussex and Beresford is for a mixed-use high-rise and low-rise market residential apartment building including retail and office uses. The project will also include a separate non-market housing building developed in conjunction with B.C. Housing. The proposed density is 5.0 FAR per the RM-5s and C2 guidelines. The site was acquired by Thind Properties in May 2016 for $32,680,000.


7422-7470 Buller Avenue

7422-bullerThis 132,000 SF site is currently occupied by a multi-tenant warehouse building and is located next to a section of former rail line in the Royal Oak area. The site is designated for medium-density residential development, and the application is for a mix of stacked-townhouses and traditional townhomes with full underground parking to a density of 1.1 FAR.


5180 Lougheed Highway

5180-lougheedAnother highrise condo tower is being planned for the Brentwood area; this one at the corner of Lougheed Highway and Springer Street. The 51,204 SF site is currently occupied by two older industrial buildings owned by Beedie Living. The plan calls for a 269,000 SF tower with 250 to 300 residential units. The concept includes “breaks” throughout the building to add visual interest to the massing and scale of the tower.

October 3, 2016by 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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