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

Infill Condo Building Planned for Mount Pleasant

A development application has been submitted for a land assembly in Mount Pleasant. The plan is for a new 3-storey condo building while preserving and restoring the existing 4-unit building at 547 East 16th Avenue that was built in 1912. The site is 15,117 SF, and is zoned RM-4. Details include:

  • Density of 1.45 FSR
  • Total of 21 units (17 new units and 4 in existing building)
  • 21 underground parking spaces
  • Total building height of 35.1 ft

549 East 16th 549 East 16th_1

 

June 16, 2015by david.taylor@colliers.com
Development

Infill Condo Building for South Granville

A rare 50′ x 125′ RM-4 zoned single family lot in the South Granville area is being planned for a 4-storey, 5-unit condo building utilizing a courtyard rowhouse scheme. The owners (a numbered company) of the lot at 815 West 15th Avenue (near Willow Street) are seeking development permit approval for:

  • Two buildings containing a total of 5 units
  • a building height of 35.1 ft
  • a density of 1.45 FSR (max under RM-4)
  • 5 underground parking spaces

A description in the application: “The intent is to provide for ground-oriented housing with greater access to light and air, per dwelling unit, than would otherwise be provided for in a four-storey multi-family building. The inner courtyard offers additional privacy with the majority of windows oriented toward the inner 20′ wide courtyard. Many windows also face the street/lane. This massing and siting approach inherently requires a relaxation of setback requirements, which are intended to produce a “lozenge-shaped” apartment building.”

815 West 15th Ave 815 West 15th Ave_1The lot was purchased in July 2014 for $2,480,000, or $273 per buildable SF.

June 13, 2015by david.taylor@colliers.com
Development

More Townhouses Coming for Oak Street

Listraor, a local development company that specializes in townhouses, is planning their third development near Oak and 41st, in between two other townhouse project already approved earlier this year.

Currently zoned RS-1, the lots in question total 14,392 and are being proposed for rezoning to townhouse under the Oakridge Langara Policy Statement. Details include:

    • 2 buildings, with a maximum height of 4 storeys (38 ft.);
    • 12 market townhouse units between 1,387 and 1,511 SF
    • a density of 1.20 FSR;
    • 24 underground parking spaces;
    • 24 bicycle spaces.

5470 Oak 5470 Oak_1The site sits between two other Listraor projects that have already been approved. To the North is a 12-unit townhouse project, and to the South – a 19-unit townhouse project.

June 13, 2015by david.taylor@colliers.com
Development

6-Storey Condo Development Planned Near King Edward Station

Tianco Group has applied to rezone a 26,579 SF site at 526-548 West King Edward Avenue from RS-1 to CD-1 under the guidelines of the Cambie Corridor Plan. The proposal is for a 6-storey residential building and five townhouses along the lane, including:

    • 69 residential units;
    • a maximum building height of 63 ft.;
    • a density of 2.45; and
    • 65 underground parking spaces.

526 West King Ed_2526 West King Ed 526 West King Ed_1

The site is an assembly of three single family lots that were assembled and sold in 2011.

More details on the rezoning application can be found here.

June 13, 2015by david.taylor@colliers.com
Development

Design Concept Unveiled for 1500 West Georgia

A preliminary design concept has been released for Bosa Properties’ site at 1500 West Georgia. While still in the early stages and not yet submitted as a formal application, the development plan looks promising and certainly different. The property currently has an office building and the Eastern portion of the site can be redeveloped with a new residential tower. Details on the project from the architect, Ole Scheeren:

Project:    1500 West Georgia, Vancouver
Type:         Mixed-Use High-rise Residential Development
Gross Floor Area: approximately 329,400 SF
Floors: 48 residential floors above 2 ground levels, 6 basement floors
Program: Residences (235 units)

Buro-Ole-Scheeren-skyscraper-Vancouver_dezeen_468_0 Buro-Ole-Scheeren-skyscraper-Vancouver_dezeen_468_1 Buro-Ole-Scheeren-skyscraper-Vancouver_dezeen_784_0 Buro-Ole-Scheeren-skyscraper-Vancouver_dezeen_784_1

“Architect Ole Scheeren has unveiled his first solo project outside of Asia – a Vancouver skyscraper that will feature a series of offset apartments protruding from the facade in a cluster of irregularly stacked glass boxes (+ slideshow).”

See more here: http://www.dezeen.com/2015/06/12/ole-scheeren-vancouver-skyscraper-new-typology-vertical-living-irregularly-stacked-boxes-canada-apartments-1500-west-georgia-street/

June 12, 2015by 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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