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: 1.7 Acre Port Moody Residential Development Site

We are pleased to introduce for sale 3370 Dewdney Trunk Road, a 1.7 acre transit-oriented development site located in the Inlet Centre Station subarea of Port Moody.

3370 Dewndey TrunkDownload the brochure for further details here.

August 17, 2016by david.taylor@colliers.com
Development

Construction Update: Cambie Star

Construction is coming along on Cambie Star, an 8-storey condo development at the Northwest corner of Cambie Street and West King Edward Ave.

The project is being built by Yuanheng Canada, who acquired the site from Translink as one of the first Cambie Corridor land sales back in 2011 for $9,400,000, or $146 per buildable SF.

The site is located directly adjacent the King Edward Canada Line station and a portion of the building is directly above the station entrance (the station entrance itself becomes a volumetric statutory right of way). There is also a covenant on title that the developer is required to build a space for a retail bike repair facility attached to the station. There will also be ground floor commercial units fronting Cambie Street.

4099 Cambie

The site was formally approved for rezoning in late 2014 for a 59-unit, 8-storey development at a total density of 3.52 FSR. Sales began in November 2014 and the project was substantially sold out in 2015. MLS pre-sales in late 2015 show the most recent sales took place in the $825 per SF range. The site signage and project website now indicates that the project is sold out.

4083 Cambie

Photo courtesy mcminsen http://po.st/qsN457 via @imageshack

4083 Cambie_1Photo courtesy mcminsen http://po.st/8eqti9 via @imageshack

4083 Cambie_2Photo courtesy mcminsen http://po.st/3wwYVp via @imageshack

August 12, 2016by david.taylor@colliers.com
Apartment, Development

Rental Apartments Planned for King Edward Site

South Street Development Group has applied to rezone a 23,088 SF three-lot land assembly at 431-455 West King Edward Avenue to allow a new rental apartment development. The proposal is for a 4-storey building with 2-storey townhouses at the lane that includes:

  • 42 secured market rental units;
  • 5 one-bedrooms, 24 two-bedrooms, 13 three & four-bedrooms
  • a building height of 45 ft.
  • a total density of 1.98 FSR; and
  • 54 vehicle parking spaces and 63 bicycle spaces.

The application is being considered under the Cambie Corridor Plan. The architect is Integra Architecture.

431 W King Edward431 W King Edward_1

August 9, 2016by david.taylor@colliers.com
Development

FOR SALE: The Evergreens, Port Moody

We are pleased to introduce The Evergreens, a 64-unit townhouse apartment property located on a 7.2 acre site in the College Park area of Port Moody.

210A EvergreenBrochure: 210A Evergreen_Brochure_Email

August 9, 2016by david.taylor@colliers.com
Development

33-Unit Project Planned for Marpole

Alabaster Homes has applied to the City of Vancouver for permission to develop a 20,084 SF 4-lot land assembly at the Southwest corner of Yukon Street and West 59th Avenue. The plan for the project entitled ‘Yukon Residences’ includes:

  • four new 4-storey buildings
  • 33 3-bedroom townhome units and single-level garden home units
  • 70 parking spaces in two levels of underground parking; and
  • net floor area of 40,208 SF
  • total density of 2.0 FSR

Under the site’s existing RM-9 zoning, the application is “conditional” so it may be permitted; however, it requires the decision of the Director of Planning.

The architect for the project is Formwerks Architectural.7521 Yukon

7521 Yukon_2

Front Elevation – Building 4

7521 Yukon_1

Front Elevation – Building 1

August 8, 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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