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

FOR SALE: Prime West Vancouver Redevelopment Opportunity

We are pleased to introduce this 14,841 SF site in the rarely available Dundarave area of West Vancouver. The site is currently improved with an older 4-storey strata building. The existing RM-2 zoning allows for 1.75 FSR density and up to 20-storeys height. 26,000 SF buildable.

2119-bellevue_bro

Brochure – Bellevue Gardens, 2119 Bellevue Avenue

Please contact us for further information.

September 8, 2016by david.taylor@colliers.com
Apartment, Development

155-Unit Rental Building Planned for East Van Site

Strand Development has submitted an application to rezone a 44,372 SF triangular site at the corner of Victoria Drive and Stainsbury Avenue for a new rental apartment project.  The site is two former light industrial lots that are zoned MC-1. The proposal includes:

    • A 6-storey rental apartment building
    • A total of 155 market rental apartment units, including six live-work units;
    • 43 studios, 44 one-bedrooms, 41 two-bedrooms and 21 three-bedrooms
    • A floor area of 108,912 SF;
    • A density of 2.46 FSR;
    • A building height of 61 ft;
    • 101 residential parking spaces and one Class B loading space; and
    • 194 Class A and six Class B bicycle parking spaces.

The application also involves the reconfiguration of lots by relocating a lane and consolidating two lots previously separated by a lane.

The application is being considered under the Secured Market Rental Housing (Rental 100) Program.

3681-victoria_1 3681-victoria

September 8, 2016by david.taylor@colliers.com
Apartment, Development

Laneway Infill Apartments Planned for West End Property

A development application has been filed for a new laneway infill apartment building on a 66′ lot in the West End. 1176 Burnaby Street, owned by Lantern Properties, has an existing 11-storey, 41-unit apartment building known as Newport Apartments.

The laneway apartment application is for the rear of the property, currently a surface parking area. Details include:

  • 9 rental apartments
  • building height of 47 ft
  • Total area of 6,852 SF
  • 7 underground parking stalls accessed off the lane

The site is zoned RM-5A and the West End Community Plan, adopted in 2014, amended the RM zones to allow infill apartments on laneways where there is sufficient room for them.

1176-burnaby

 

1176-burnaby_21176-burnaby_1

September 7, 2016by david.taylor@colliers.com
Development

Construction Update: The Amazing Brentwood

Above ground construction efforts continue at the Amazing Brentwood, the redevelopment of Brentwood Town Centre Mall in Burnaby by Shape Properties. The project is one of the largest mixed-use development currently under construction in Metro Vancouver.

The project, which broke ground on its first phases in 2015, will feature 11 towers and over 6,000 units once complete. It will also include a considerable new retail component with over 250 new stores.

The first 3 towers have now sold out, representing about 1,400 units.

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courtesy mcminsen http://po.st/rJ0jPB via @imageshack

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courtesy mcminsen http://po.st/FIlASK via @imageshack

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courtesy mcminsen http://po.st/rF60Wk via @imageshack

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courtesy mcminsen http://po.st/rpGrdn via @imageshack

September 5, 2016by david.taylor@colliers.com
Development

Market Spotlight: Burnaby Rezoning Activity

Here is an update to some of the rezoning applications that have been advanced to public hearing at Burnaby City council this week:

7201 11th Avenue (Southgate City –  Phase 2)

7201 11th AvenueThis proposal is the second phase of land to go through rezoning in Ledingham McAllister’s “Southgate City” master planned community in South Burnaby. The plan for this plot in the ‘Island Neighbourhood’ in the Southwest corner of the site includes:

  • a 28-storey tower and two 4-storey lowrise buildings
  • 321 units (213 in tower, 108 in lowrises)
  • 84 one-bedrooms, 225 two-bedrooms and 12 three-bedrooms
  • 354 underground parking spaces
  • 307,037 SF of gross floor area

6695 Dunblane Avenue & 4909-4971 Imperial Street

6695 Dunblane_1This “L” shaped property is owned by Transca Development, who acquired the assembly of four Metrotown lowrise apartments in February 2016 for $28,700,000 and submitted an initial rezoning inquiry at that time. The 56,239 SF site sits in a very active development zone, with The Park, Met 1 and Met 2 all nearby. Transca is now seeking approval to move to public hearing with a high-density residential project under the RM-5s designation including:

  • a 36-storey tower and 2-4 storey lowrise form
  • 313 units
  • total density of 5.11 FAR
  • 6,225 SF of live/work (commercial space) 0.11 FAR
  • 31 studios, 103 one-bedrooms, 112 two-bedrooms and 67 three-bedrooms
  • 387 underground parking spaces

6668-6730 Dunblane Avenue & 6661-6709 Marlborough Avenue

6668 DunblaneJust across Dunblane Avenue to Transca’s applicaiton, Polygon’s application on Dublane, originally introduced in November 2015, is now headed to public hearing. Details of the proposal for the 7-lot, 54,085 SF assembly of duplexes and apartment buildings includes:

  • a 38-storey tower with townhouses
  • 263 units (255 in tower and 8 townhouse units)
  • total density of 5.0 FAR
  • 1 studio, 220 two-bedrooms, 42 three-bedrooms
August 31, 2016by david.taylor@colliers.com
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David Taylor - Senior Vice President @ColliersCanada. Chronicling investment and development activity in Vancouver. Views are my own.

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First Capital REIT --> Choice Properties REIT and Kingsett Capital are teaming up to acquire the Canadian real estate company in a deal valued at over $9 billion, including assumed debt. Choice Properties will acquire roughly five billion dollars worth of shopping centres, while

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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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