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

West End Community Plan Approved

Vancouver city council has approved a controversial West End neighbourhood plan that outlines development in the area for the next 30 years.

The plan aims to strike a balance between development pressures and preserving the West End’s quiet, tree-lined streets, where 45,000 people live in only 112 blocks.

It gives developers and planners a road map for the foreseeable future that permits infill development in the centre of the neighbourhood and taller towers on busy corridors around the edges.

West End Plan_2Coun. Tim Stevenson says the city expects $600-million will be invested in the neighbourhood over the next 30 years.

“We’ll certainly see more density because we’re expecting seven- to 10-thousand more people in the next 20 years, and we obviously have to accommodate that,” said Stevenson.

Read more: http://www.cbc.ca/news/canada/british-columbia/west-end-community-plan-approved-in-vancouver-1.2433596

November 21, 2013by david.taylor@colliers.com
Development

Live Updates on West End Plan

Follow the Council’s decision live here.

Here are some live updates from the City Council meeting regarding the West End Community Plan:

 

November 20, 2013by david.taylor@colliers.com
Investment, Office

576 Seymour Street, Sold

576 SeymourThe Arts and Crafts building located at 576 Seymour Street has sold to an offshore investor for $15,200,000, or $430 per SF.

The 35,411 SF C-Class building is located on the East side of Seymour between Dunsmuir and West Pender Streets. The cap rate was 4.4%.

November 20, 2013by david.taylor@colliers.com
Development

The View From The East

The View From The East by Clayton Perry Photoworks
The View From The East, a photo by Clayton Perry Photoworks on Flickr.

November 19, 2013by david.taylor@colliers.com
Development, Retail

Richmond Walmart Gets Green Light

After almost three hours of impassioned pleas begging city council to say no; it said yes, gifting to Richmond in the process its first ever Walmart.

At a packed out, standing room only public hearing at city hall council chambers, city council, by a majority 6-2 vote, approved SmartCentres’ controversial $150 million, ten-year-old proposal for a 14-acre outdoor shopping centre – anchored by U.S. retail giant Walmart.

Councillors Harold Steves and Chak Au were the only two to vote against the West Cambie plan – bound by Alderbridge Way, Garden City, Alexandra and No. 4 roads.

Before the plan was approved, veteran Steves went as far to brand the development the “worst or second worst” the city has ever been involved with.

However, although many in the audience had nothing but condemnation for the proposal – traffic concerns, loss of green space and views, environmental damage and dislike of Walmart topped the list – there was a surprising throng of approval for the project.

Read more: http://www.richmond-news.com/news/richmond-walmart-gets-green-light-1.701622#sthash.6uB8rJsY.dpuf

November 19, 2013by 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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