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

Three downtown Vancouver towers to focus on rental units over market condos

Three downtown Vancouver towers to focus on rental units over market condos.

Aquilini Developments says a three-highrise tower development near Rogers Arena ‘is probably the largest rental project [in Vancouver] in the last 30 years.’
 

Aquilini Developments says a three-highrise tower development near Rogers Arena ‘is probably the largest rental project [in Vancouver] in the last 30 years.’

Three new highrise towers planned beside Rogers Arena will feature several hundred rental units as their residential component instead of condominiums.

“It’s in the heart of the downtown core and we thought it would be a great rental project,” said David Negrin, president of Aquilini Developments and Construction, on Wednesday. “We’re taking some risk, but feel there’s a real requirement for rentals in downtown Vancouver.”

Read more: http://www.vancouversun.com/business/Three+downtown+Vancouver+towers+focus+rental+units+over+market+condos/6704420/story.html#ixzz1wPqwhw3x

May 31, 2012by david.taylor@colliers.com
Development

Dolphin Cinemas Building up for Redevelopment

Dolphin Cinemas building up for redevelopment.

The building that houses Burnaby’s popular Dolphin Cinemas is up for redevelopment.

The rezoning application for the development came before Burnaby council at Monday night’s meeting.

Read more: http://www.burnabynow.com/Dolphin+Cinemas+building+redevelopment/6696361/story.html#ixzz1wMZQQ0fd
May 30, 2012by david.taylor@colliers.com
Office

Office Building at 411 Dunsmuir St., Sold

411 Dunsmuir Street in Downtown Vancouver has sold. Known as the 411 Senior’s Centre for several years, the 4-storey building sold for $8,775,000, or about $266 per sq ft based on a total building area of 33,000 sq ft. The building will be undergoing minor renovations including to the exterior and street level space. The purchaser was a local group. As of last week, the Senior’s Centre Society had moved to 333 Terminal Avenue.

May 30, 2012by david.taylor@colliers.com
Office

New Westminster Learned of Office Tower Decision After Election

New Westminster learned of office tower decision after election.

The City of New Westminster learned that the Uptown Property Group was pulling out of the civic centre project nine day’s after last fall’s civic election.

Jim Lowrie, the city’s director of engineering, said the Uptown Property Group notified the city of its decision to withdraw from the project on Nov. 28, 2011.

Read more: http://www.royalcityrecord.com/Westminster+learned+office+tower+decision+after+election/6691638/story.html#ixzz1wHDkPKPx
May 29, 2012by david.taylor@colliers.com
Market Research

City of Vancouver Unveils Strategy for Viaducts

The City of Vancouver has unveiled its proposed new concept for the land under the Georgia and Dunsmuir viaducts based on input from stakeholders and an open ideas competition. The public is invited to view this new concept for the viaducts and provide their feedback at upcoming open houses. Staff is expected to report to council in July 2012.

The viaduct issue has been contentious as it weighs some urban benefits against the idea of using valuable public resources to tear down infrastructure that has not reached the end of its useful life.

Key Points of the Concept:

  • Removal of Georgia and Dunsmuir Viaducts
  • Georgia Street connection to Pacific (combined with Expo Blvd.)
  • New bike lane connections, including option for bike lane on W. Georgia Street
  • Approx. 850,000 sq ft of development potential (likely residential) between Quebec and Gore St.
  • 10% increase in park area

Have your say at Public Open Houses:

Tuesday, June 5
4:00 – 7:00pm
Woodward’s Atrium
111 West Hastings

Thursday, June 7
3:30 – 6:30 pm
Creekside Community Centre
1 Athletes’ Way

Saturday, June 9
10:00 am – 2:00 pm
Central Library Promenade
350 West Georgia

Source: City of Vancouver

 

May 29, 2012by 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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