With less than 200,000 SF of new office space built since the completion of Bentall 5 in 2007, and a vacancy rate hovering below 5%, there is finally some new supply on the horizon.  Only Jameson House and the Hotel Georgia offices, both commercial strata office space in mixed-use projects have been built since that time, adding approximately 130,000 SF.

In 2014-2015, over 1,000,000 SF will be added to the downtown market with the addition of 745 Thurlow, Telus Garden and MNP Tower (1021 West Hastings).  All three are at varying stages of demolition or excavation.

Onni Development Corp has completed the purchase of a 1.07 acre residential development site from The University of British Columbia Foundation for $15,375,000.  The property is currently zoned IC-3 and is to be developed as part of the Great Northern Way Campus.

A two-storey retail building has sold at the Southwest corner of Denman and West Georgia Streets in Downtown Vancouver. The building is 9,400 sq ft and tenants include the Running Room. The purchase price was $7,360,000, equating to $780 per sq ft.

New developments spur upgrades in Vancouver’s downtown office market.

Vancouver’s Shannon Mews eyeing first permit.

The application for phase one of the Shannon Estate development at 57th and Granville goes before the city’s Development Permit Board July 16.

Council approved the rezoning of the Shannon Mews site almost a year ago—at 2 a.m., July 29—following three days of contentious hearings that went late into the night. Of the 179 people registered to speak, 85 were opposed, four were classified as “other,” seven were in support and 83 didn’t speak.