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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

Proposed DTES Housing Project Uses Shipping Containers

An interesting development proposal has been made by the Atira Women’s Society for a small (3,050 SF) site in the Downtown Eastside. The plan calls for a 7-storey building made of shipping containers to be used for “small suite” housing. The rezoning application for the site at 420 Hawks Avenue is being made under the new Downtown Eastside Local Area Plan, and intends to rezone the M-1 (Industrial) site to CD-1.  The proposal includes:

    • 20 studio units and 6 two-bedroom units;
    • a building height 72 ft.;
    • a density of 4.7 FSR; and
    • 41 bicycle parking spaces and 0 vehicle parking spaces.
    • Each studio unit is made of two 8′-20′ container units, with two bedroom units being made of 3 container units

420 Hawks 420 Hawks_2

The architect, Boni Maddison, describes some elements of the containers design:

  • “The end of each container is left open and the approach to the building envelope is a curtain wall system…
  • The front exterior facade is modulated with the central area at teh property line an both wings set back.
  • The sides of the containers will be left exposed as a face sealed metal system.
  • The site built elements, stair and elevator core will be clad with insulation and prefinished panels.“

 

December 11, 2014by david.taylor@colliers.com
Apartment, Investment, Retail

Lotus Hotel Property Sells in $17.9 Million Deal

The Lotus Hotel, a six-storey building retail and apartment property located at West Pender and Abbott Street in Downtown Vancouver has sold for $17,900,000.

Lotus

The building, built in 1913, was substantially upgraded in 2001 and  2009  The main floor and basement  have been leased as a 12,000 SF retail tenant operating as The Pint Public House. The upper floors feature 110 bachelor suites, which are self-contained with kitchenettes (fridge, stove, sink) and three-piece bathrooms. These units reportedly average 210 SF.

The building was sold by Steve Fame at Colliers and had been listed for sale for $18,698,000.

December 9, 2014by david.taylor@colliers.com
Development

Polygon Planning 37-Storey Metrotown Tower

Polygon Homes has a rezoning application at first reading tonight with the City of Burnaby for a 37-storey, 253 unit residential tower at Dunblane Avenue and Marlborough Avenue on the East side of Metrotown. The site at 6592/6650 Dunblane Avenue and 6579/6611 Marlborough Avenue is currently occupied by four walkup apartment buildings. This is a site first mentioned a year ago.

The Metrotown Town Centre Development Plan designates the subject site for high-density multiple-family development (RM5s), or 5.0 FAR.
To the west across Dunblane Avenue is the “Met I” development, a 35-storey tower with townhouses by Concord Pacific, which was rezoned and is currently under construction. To the northwest of the subject site and directly north of the “Met I” is the “Met II”, a 38-storey tower with townhouses fronting Nelson Avenue under rezoning, which is also
currently under construction.
Polygon Dunblane

 

December 8, 2014by david.taylor@colliers.com
Development, Office

Construction Update: MNP Tower

by 604City, on Flickr

December 4, 2014by david.taylor@colliers.com
Development

Market Spotlight: Eventide – Beach and Bute

By ChangingCity

Eventide render

Deecorp are usually commercial owners and agents for retail and office space Downtown, so a residential building is a bit of a departure from their usual area of activity. This three unit residential building was proposed several years ago and has just been advertised for sale.

Designed by Merrick Architecture, and with just three suites on four levels the repeated use of the word ‘luxury’ in the marketing and the reference to ‘stunning unobstructed ocean views’ promises that these are unlikely to fall into the category of affordable housing – unless you can afford a million or two.

…read more

Source:: Changing City

December 4, 2014by 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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