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

Several Notable Applications at the July 10 Public Hearing

Next week’s rezoning hearing on Tuesday July 10th has a large roster of applications and will be sure to keep Vancouver City Council busy well into the evening.  There are a total of 10 items on the agenda for the July 10 public hearing which begins at 7:30 pm at City Hall.

Some of the more notable applications include:

800 Griffiths Way (Rogers Arena Towers by Aquilini Development)

1388 Continental Street (Neon by Cressey)

4837-4861 Cambie Street (Mosaic)

July 5, 2012by david.taylor@colliers.com
Market Research

Market Spotlight: West Vancouver Single Family

Resales volume for single family houses in West Vancouver have slowed significantly, and reflects a Metro-wide trend of a definitive swing towards a buyer’s market. June 2012 was the slowest June in over 10 years, with just 30 resales. Comparatively, there were 121 sales in June 2011. Of these 30 sales last month, 20% had dropped their asking price at least once, compared with just 10% of the sales in June 2011.

Source: MLS Statistics

July 5, 2012by david.taylor@colliers.com
Development

Plan for 33-storey Tower Clears More Hurdles

Plan for 33-storey tower clears more hurdles.

Despite protests from neighbours to the east and residents directly around the site, a new 33-storey tower straddling the border of Coquitlam and Port Coquitlam received yet another green light Monday.

Coquitlam council unanimously granted second and third readings to a rezoning application designed to accommodate a new development at the corner of Westwood Street and Lincoln Avenue.

Read more: http://www.thenownews.com/business/Plan+storey+tower+clears+more+hurdles/6859483/story.html#ixzz1zfIlwINg
July 4, 2012by david.taylor@colliers.com
Development

Plan Emerges for Plaza of Nations Site

Plans to redevelop the Plaza of Nations have moved from public consultation in 2011 to formal application with an application to amend the existing CD-1 District By-law for the site.

The proposed amendment would allow 1.4M sq ft of residential, 350,000 sq ft of commercial, and 57,000 sq ft of community centre uses, with a total density of 3.9 FSR. The residential use will provide 1,700 to 2,000 residential units. The commercial use will provide retail, office, hotel, restaurants, and cafes. The community centre and associated uses include a daycare for 69 children, an ice rink which would provide a practive venue for the Vancouver Cancucks, and sports science centre. All required parking will be below grade. The buildings will vary in height and be up to a maximum of 30-storeys to meet view cones.

More information can be found here.

Source: City of Vancouver
July 4, 2012by david.taylor@colliers.com
Office

OPEN HOUSE: 320 Granville Street

The City of Vancouver is holding an open house for 320 Granville Street, a proposed 32-storey office building with a density of 25.5 FSR and 380,000 sq. ft.

The Open House will be a “drop-in” event where you can view the proposal. City staff and the applicant team will be available to answer your questions and receive your comments.

Community Open House
Date: Thursday, July 12, 2012
Time: 5 – 8 pm
Place: The Landing (atrium)
375 Water Street

July 3, 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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