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

Orr Development Proposing 83-unit West Broadway Rental Building

Orr Development has applied to rezone 3002-3036 West Broadway from C-2C to CD-1 to build a 5-storey, 83-unit market rental building, with a total density of 3.5 FSR, and a height of 61 feet. A total of 26 commercial and 63 residential parking stalls are proposed. The site is 20,889 SF. Under the existing C-2C guidelines, the maximum height is 4-storeys with setbacks.

The project includes 16,000 SF of commercial space on the ground floor and includes 19 studios, 41 one-bedrooms, 19 two-bedrooms, and 4 three-bedrooms.

The rezoning application is being considered under the Rental 100: Secured Market Rental Housing Policy.

November 9, 2012by david.taylor@colliers.com
Development

6-Storey Residential Building Proposed for West 41st

Buffalo Investment (Canada) Ltd. has applied to rezone 755-795 West 41st Avenue in the Oakridge area of Vancouver from RS-1 to CD-1 to build a 6-storey residential building, at a density of 2.72 FSR, including 0.25 FSR for market rental units. The architect is iConstrux Architecture Ltd.

Buffalo had acquired the site, a collection of single family lots, in November 2011 for $15,750,000, or $169 per buildable SF based on the intended rezoning. The market rental units will be located on the ground floor.

November 9, 2012by david.taylor@colliers.com
Development

Residential Tower to Eat Up Restaurants

Richmond Review – Residential tower to eat up restaurants.

A flurry of residential development in Richmond’s downtown is expected to soon gobble up two more businesses.

Townline Group of Companies is proposing to build a 16-storey tower with 126 homes at 8280 and 8300 Granville Ave., near St. Albans Road. City council’s planning committee endorsed the rezoning bid Tuesday.

Each site is currently occupied by a restaurant: An Nam Restaurant at 8280 Granville Ave. and Daimasu at 8300 Granville Ave. The proposed development is strictly residential and won’t have commercial space.

Read more: http://www.richmondreview.com/news/178001731.html

November 9, 2012by david.taylor@colliers.com
Development

38-storey Tower Planned for Nelson Avenue

Burnaby NewsLeader – 38-storey tower planned for Nelson Avenue.

A 38-storey apartment tower with three-storey townhouses is being proposed for a site comprised of 6530 and 6550 Nelson Ave. in Burnaby’s Metrotown area.

Both parcels are currently occupied with older low-rise apartment buildings in fair condition, one built in 1968, the other in 1970, according to a city staff report.

The developer, Concord Pacific Developments Inc., also recently consolidated and rezoned the site directly to the south to allow a 35-storey high-rise condominium tower with townhouses fronting onto Nelson and Dunblane avenues.

Read more: http://www.burnabynewsleader.com/news/177501731.html

November 8, 2012by david.taylor@colliers.com
Development, Retail

YVR Confirms Designer Outlet Switch; New Site Adjacent to Canada Line Station

YVR confirms designer outlet switch; new site adjacent to Canada Line station.

Vancouver Airport has decided to move its proposed designer outlet shopping centre into the shadow of a Canada Line station.

The facility, being built in conjunction with UK-based luxury outlet firm McArthurGlen, will now be situated next to the Templeton station on Sea Island.

YVR had originally planned to build the outlet centre off Russ Baker Way, next to BCIT and were still preparing the ground at the site as recently as two months ago.

Read more: http://www.richmond-news.com/Sockeyes+spawned+same+year+Summit+Series/7440977/story.html#ixzz2BeGlTtDG
November 8, 2012by 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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