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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Apartment, Development

101 Rental Apartments Planned for Kingsway Site

Hua Long International Technical Investment has applied to the City of Vancouver to rezone a 27,764 SF, C-2 zoned site at 2153-2199 Kingsway (at the Northwest corner of Gladstone) for a 6-storey rental apartment building.

The proposal includes:

    • 101 market rental apartment units;
    • 45 studio units, 18 1-bedroom units, 31 two-bedrooms & 7 three-bedrooms
    • A total density of 3.37 FSR (93,651 SF);
    • 14,499 SF of ground-floor retail space;
    • A building height of 71.4 ft.;
    • Two floors of underground parking, with access from the lane to the north of the site.

This application is being considered under the Secured Market Rental Housing (Rental 100) Policy.

The site, which comprises four separate lots, had been assembled over a period between 2010 and 2015.

2153-kingsway2153-kingway_2 2153-kingsway_1The rezoning application can be viewed here.

The architect for the project is IBI Group.

September 28, 2016by david.taylor@colliers.com
Apartment, Investment, Retail

For Sale: East Vancouver Investment Opportunity

We are pleased to introduce this Kingsway apartment/retail building. Please contact us for further details.

1574-kingsway

 

1574 Kingsway Brochure

September 23, 2016by david.taylor@colliers.com
Development

Redevelopment of Empire Landmark Hotel Includes 280 Units

Asia Standard has filed their development application for the 357-room Empire Landmark Hotel Site on Robson Street. The C-6 zoned site is currently improved with a 41-storey hotel and the redevelopment potential arose out of the new guidelines in the West End Community Plan which was adopted in 2014.

Redevelopment plans for the 40,920 SF site include:

  • Two towers, one 28-storeys and 30 storeys
  • 280 residential units (57 social housing units /223 market units);
  • retail use on the ground floor and office use on the second and third floors;
  • 393,850 SF of floor area;
  • total density of 9.63 FSR
  • building height of 300 ft.; and
  • four levels of underground parking accessed from the lane.

The social housing is located in the podium of the building.

1488-robson_1 1488-robsonInterestingly, the existing hotel is 394 feet; taller than the proposed tower replacements, albeit at lower density.

September 23, 2016by david.taylor@colliers.com
Apartment, Investment

FOR SALE: Fairview Apartment Building

1216-west-10th-ave1216-west-10th-avenue-brochure

September 22, 2016by david.taylor@colliers.com
Development

63-Unit Building Planned for Lynn Creek Area of North Vancouver

Wanson Development is planning a new 6-storey residential building in the Lynn Creek area of North Vancouver, just a couple of blocks South of the Seylynn Village project which is half complete. The site is located at 467 Mountain Highway, just South of Hunter Street. This is currently an industrial area, but portions fronting Mountain Highway were redesignated for mixed-use a few years ago.

Plans for the 18,600 SF site include:

  • a 6-storey building
  • 63 condo units (24% one-bedrooms, 66% two-bedrooms, 10% three-bedrooms)
  • 6 ground-floor retail units totaling 5,663 SF
  • a building height of 75.5 feet
  • a total density of 3.5 FSR
  • two levels of underground parking

The rezoning requires a total CAC payment of $705,000, equivalent to $16.50 per SF for density above 1.2 FSR base. Wanson had acquired the site in 2014 for $4,800,000, or $74 per buildable SF.

The building features an interesting central courtyard layout. The architect for the project is Francl Architecture.

467-mountain467-mountain_1467-mountain_2

September 22, 2016by 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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