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

Market Spotlight: 1819 West 5th Avenue

By ChangingCity

1819 W5th render 3This remarkably bold architectural proposal is a residential over retail building for Burrard Street – specifically the northwest corner of Burrard and West 5th Avenue. The architects are Yamamoto Architecture, and the proposal currently has 25 units. The Urban Design Panel will no doubt get to weigh in on the project soon, which is not a rezoning, and so can proceed reasonably fast if it doesn’t hit any hurdles along the way.

…read more

Source: Changing City

May 15, 2014by david.taylor@colliers.com
Apartment, Development

Rental Housing a Go Near North Vancouver’s Phibbs Exchange

District of North Vancouver council approved a six-storey development near Phibbs Exchange Monday, but despite being billed as affordable housing, the project’s cost was too high for one councillor. The 112-unit Oxford Street development showcases the need for amalgamation between the City and District of North Vancouver, according to Coun. Lisa Muri.

“There’s tons of rental in the City of North Vancouver and if we were one municipality we wouldn’t even be having this conversation,” she said.Phibbs

The project is a rezoning of four single-family lots between 1561 and 1583 Oxford St. Muri was nonplussed by the building’s size, its design, a lack of green space, and its location on a busy thoroughfare. “The access onto the Second Narrows Bridge has been suggested to come out right in front of this building,” she said.

Other councillors cited the project’s location as a prime attribute. “If ever there was a location in our community where it was appropriate to. .. potentially have a bit of a different model available for a building, this is it,” said Coun. Mike Little, noting its proximity to transit.

Read more: http://www.nsnews.com/news/rental-housing-a-go-near-north-vancouver-s-phibbs-exchange-1.1053957

May 12, 2014by david.taylor@colliers.com
Apartment, Development

Construction Update: Hotel Blu – Robson Street

By ChangingCity

Hotel BluYet another of the ‘stalled’ projects that were impacted by the brief 2008-9 recession and the hike in construction costs around the Olympics got underway in 2011, and is now pretty close to completion. One of the few surface parking lots left Downtown – this one on Robson at Cambie – has been replaced by a 102 room hotel and 78 apartments that for now at least will be offered for rent.

The developers already owned the James Hancock designed Hampton Inn across the lane on Beatty Street, and the Georgian Court next door so there will presumably be efficiencies for them in operating here.

The design, by Relative Form Architecture offers quite a contrast to Walter Francl’s TV Towers across Cambie Street. As built isn’t exactly as shown a few years ago – but pretty close. The pre-cast concrete elements are similar in colour to the library up the street. There were plans to develop the site since the late 1990s, so it’s been a long time coming; initially it was said to be a Hilton – then the Crystal Blu Hotel: now it’s Hotel Blu.

 …read more

Source: Changing City

May 12, 2014by david.taylor@colliers.com
Market Research

Market Spotlight: Residential Stats May 2014

Here are a few select stats released by the REBGV that show various housing markets:

Metro Van HPI Select Stats_May 2014Vancouver Westside

Of note, the benchmark index for single-family homes on the Westside of Vancouver has now inched back up to the peak values seen in April 2012.

Westside HPI Graph May 2014 Is this sustainable?

May 10, 2014by david.taylor@colliers.com
Investment, Office

SOLD: 2445 Hemlock Street

I am pleased to announce the sale of 2445 Hemlock Street. Colliers worked on behalf of the Vendor to generate multiple offers. The property sold to a user group that intends on occupying a portion of the building. The purchase price was $4,000,000.

Exterior

Exterior

May 7, 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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