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

Land Sale a ‘Windfall’ for West Vancouver Church: Neighbours

North Shore Outlook – Land sale a ‘windfall’ for West Vancouver church: neighbours.

A church in the British Properties wants to sell its land to a developer. What could be built in place of a church in the British Properties has caused quite a stir.

If the church’s land is sold, duplexes and single-family homes could go in the large lot. That’s 19 homes, consisting of 11 detached dwellings and eight duplexes, to be exact.

The congregation at North Shore Unitarian Church isn’t satisfied with the aging space, said representatives from the church. There’s no bus service so many seniors can’t make service by themselves and the 43-year-old building isn’t wheelchair accessible.

370-380 MathersSo the congregation should move somewhere else on the North Shore that’s more accessible, said a delegation of church members at a West Van council meeting on Monday. If the land at 370 and 380 Mathers Ave. is rezoned, the buyer, Darwin Construction, wants to develop the area.

Read more:http://www.northshoreoutlook.com/news/199187241.html

March 22, 2013by david.taylor@colliers.com
Development

FOR SALE: 5695 Lougheed Highway, Burnaby

5695 Lougheed Hwy_BRO Page 15695 Lougheed_Brochure

March 21, 2013by david.taylor@colliers.com
Market Research

Vancouver’s Vacancies Point to Investors, Not Residents

Nearly a quarter of condos in Vancouver are empty or occupied by non-residents in some dense areas of downtown, a signal that investors play a significant role in the city’s housing market.

And the city overall has a much higher rate of empty apartments and houses than other Canadian cities, with a rate closer to places like New York and San Francisco at the height of their mortgage crisis in 2010.

Downtown, the rate is so high that it’s as though there were 35 towers at 20 storeys apiece – empty.

That’s the latest discovery that adjunct UBC planning professor Andrew Yan made when he analyzed 2011 census numbers to try to add more information to the contentious debate over whether Vancouver is turning into a high-end resort or offshore investors’ holding tank.

Read more: http://www.theglobeandmail.com/life/home-and-garden/real-estate/vancouvers-vacancies-point-to-investors-not-residents/article10044403/

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

Pacific Arbour puts Dunbar Seniors’ Plan on Hold

Developing Story: Pacific Arbour puts Dunbar seniors’ plan on hold.

It could be weeks or months before Pacific Arbour decides whether to submit a revised application to the city for a senior’s facility it hoped to build on property on the east side of the 4600 block of Dunbar Street between 30th and 31st avenues.

Earlier this month, the city rejected its rezoning application to build a six-storey seniors residence south of Stong’s grocery store. City staff cited concerns about affordability and how it fit into the Dunbar Vision Plan, which envisions buildings up to four storeys.

President Peter Gaskill told the Courier Pacific Arbour is not working on a revised application at this time and that, in the company’s opinion, a four-storey building is not financially feasible at current land prices.

Read more: http://www.vancourier.com/news/Killarney+pitches+call+action/7870838/story.html#ixzz2O5n1IUEv
March 20, 2013by david.taylor@colliers.com
Development

Project Spotlight – Milltown Marina Project in Marpole

Bastion Development Corporation in conjunction with the Musqueam Indian Band are constructing a 9,000 linear foot marina at the foot of Granville Street in between Vancouver and Richmond.  The project will have in-water moorage for 226 recreational boats and dry-stack storage for 190 boats. There will also be a service shop, cafe and 228 stall parking lot.  The project also includes a new observation deck, wildlife habitat created from the by-product of site dredging, cycling and jogging trails.

Bastion Marina

Visit http://milltownmarina.com/index.html for more information.

March 19, 2013by 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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