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, Office

Construction Update: Rogers Arena Tower

July 17, 2014by david.taylor@colliers.com
Development

Market Update: Rezoning Applications Heading to Public Hearing

Before things quiet down at the City during August, several rezoning applications are looking to be referred to their final review at public hearing:

7350 Fraser Street

7350 Fraser Street_2 The plan for this site on Fraser Street is to rezone from RT-2  to CD-1 to allow a 6-storey rental building under Rental 100 that includes 96 rental units and a total density of 2.61 FSR.


7790 Cambie Street

7790 Cambie_2This tiny site is seeking rezoning to allow a 6-storey rental building that includes 27 rental units and a total density of 2.70 FSR.

The site is only 8,250 SF in size.


357, 375 & 391 West King Edward Ave

357 King Edward_2This Cambie Corridor site is planned for a residential development consisting of one 4-storey building and 2-storey townhouses along the lane with 41 market residential units and a total density of 1.88 FSR.


3503-3523 East Hastings Street

3503 East Hastings StThe plan for this site at Hastings and Skeena (near Boundary Rd) is to rezone from C-2C1 to allow a 6-storey rental building under Rental 100 with 87 units and retail at grade. The density is 3.95 FSR.


 

601 West Hastings Street

601 West HastingsMorguard is indeed planning to move forward with their rezoning plan for 601 West Hastings Street (also referred to as 333 Seymour Street) to retain the existing office tower, and build a new 25-storey office tower.

The new tower would have a total area of 227,714 SF, which equates to a 24.34 FSR.

 

 

 


 

These applications will likely receive their public hearing after Council’s August break.

July 17, 2014by david.taylor@colliers.com
Development

Market Spotlight: 311 East 6th Avenue

By ChangingCity

311 E6thThis project appeared a few weeks ago as a mystery development. It’s had an address in Mount Pleasant, a bit of a description: “To develop new mixed use building with artist studios and residential units” and a date for the Development Permit Board in September. Now it’s been to the Urban Design Panel, and we know the architects are IBI Group. As it’s proposed under zoning it can proceed reasonably fast.

…read more

Source: Changing City

July 17, 2014by david.taylor@colliers.com
Apartment, Development

Rehabilitation Planned for Boulder Hotel, 9 West Cordova

A development application has been filed for 9 West Cordova (at the corner of Cordova and Carrall Street in Gastown, formerly home to Boneta) to rehabilitate the heritage building by converting 22 vacant SRA units into 8 self-contained residential market rental units that could also include office and artist studio uses on the 2nd and 3rd floors. The conversion of SRA units and heritage revitalization agreement was previously approved in 2008 after the plan was originally proposed in a slightly different form in 2007.  This time it appears that the owner, King Tiger Investments, is planning to proceed.

9 West Cordova” [The Boulder Hotel]…started life as a 2-storey building in 1890, and later grew another at some point before 1910…. It was designed by the Fripp Brothers (Robert and Charles) for American tunnel builder turned real estate mogul A G Ferguson.” – Changing Vancouver

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

City of North Vancouver Council Divided Over OCP

As City of North Vancouver council painstakingly scrutinized the document that will dictate the next 30 years of planning and development for the municipality, one thing was certain: there was hardly a consensus on what should be done.

Council plodded through each neighbourhood in the draft official community plan, during the 90-minute debate Monday night, targeting mainly density.

Perhaps the most contentious piece of the planning puzzle is the East Third Street area. A group of Moodyville residents joined neighbour Trevor Gorety, who lives on the north side of the 700-block of East Third Street, to support six-storey midrises with commercial storefronts at ground level.

But Coun. Guy Heywood moved a wholesale change for East Third – suggesting density only take the form of townhouses.

“It’s unfortunate, but most of our OCP process seems to be taken up with the periphery of our concern, which is really the kind of style of housing in the Third Street area – as opposed to the core, where we are accomplishing the city’s main goals for affordability, density, potential amenity,” said Heywood.

He further explained, it would not be prudent for the city to allow a 350 per cent increase in density along that stretch of East Third Street, without first seeing how the area takes shape after the Low Level Road construction is completed and traffic patterns are normalized.

Read more: http://www.nsnews.com/news/city-of-north-vancouver-council-divided-over-ocp-1.1202176

July 14, 2014by david.taylor@colliers.com
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David Taylor Personal Real Estate Corporation

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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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