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

Construction Update: Trump Tower

by 604City, on Flickr

December 16, 2014by david.taylor@colliers.com
Development

Dunbar Redevelopments Seek Approval

Two prominent Dunbar redevelopment projects go before the Development Permit Board Dec. 15. One involves the Stong’s site. It’s an application to redevelop 3592 West 29th, formerly known as 4560 Dunbar St.

Henriquez Partners Architects, acting on behalf of property owner the Harwood Holdings Corporation, proposes a four-to-five storey, mixed-use development. It would include 60 residential units, commercial space, a height of four storeys on the north end and five storeys on the south end where there would also be a public plaza.

In October 2013, the city rejected a rezoning application for a six-storey mixed-use building on the site. Residents argued it was contrary to Dunbar’s community vision, which calls for a four-storey limit.

The Harwood application complies with the C2 zoning for the site, so it’s considered conditional, which means it may be permitted, but needs board approval. Brian Jackson, the city’s manager of planning and development, told the Courier previously that zoning allows for five storeys on part of the property because it’s a sloped site.

3592 West 29th Ave

3592 West 29th Ave

The Development Permit Board will also consider, on Dec. 16, a development permit application for a nearby site at 3603 West 27th, formerly known as 4219-4295 Dunbar St.

Read more: http://www.vancourier.com/news/developing-story-dunbar-redevelopments-seek-approval-1.1662106

December 12, 2014by david.taylor@colliers.com
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
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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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