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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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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Condo, Development

5-Storey, 19-Unit Condo Building Proposed for West Van

A development application by Pelagos Properties has been approved by the District of West Vancouver for 2711 Rodgers Creek Place, in the Rodgers Creek/Mulgrave area of West Vancouver above the Upper Levels Highway.

The proposal for the 37,000 SF steeply sloped site includes a 5-storey condo building and:

  • 19 units;
    • 1 one-bedrooms, 5 two-bedrooms & 13 three-bedrooms;
  • a total density of 1.0 FAR;
  • three levels of underground parking with 35 stalls.

The architect for the project is Folio Studio Architecture.

The site was acquired in 2019 for $11,000,000, or $300 per buildable SF based on the application.

August 29, 2023by david.taylor@colliers.com
Condo, Development

21 Townhouse Units Proposed for North Van Site

A preliminary rezoning application has been submitted for a 30,000 SF site near Edgemont Village in North Vancouver.

The site at 3712-3718 Edgemont Boulevard is currently improved with a four-plex built in 1951 and designed by Fred Hollingsworth.

A previous application for the site included preservation of the existing heritage structure and the addition of 25-30 units but the proposal did not proceed.

The OCP designates this site Residential Level 3: Attached Residential, which permits a density up to 0.8 FAR.

The new proposal for the site includes:

  • 21 two-storey townhouses;
  • a total density of 0.8 FAR;
  • 41 underground parking spaces.

The architect for the project is Robert Blaney.

The site was listed for sale for $9,800,000 and sold earlier this year for $7,000,000 of $293 per buildable SF based on the application for townhouses.

August 28, 2023by david.taylor@colliers.com
Apartment, Development

61 Infill Rental Apartments Planned for West End Property

Starlight has applied to the City of Vancouver for permission to develop two infill rental buildings on an existing apartment property they own at 1755 Haro Street in the West End.

The 138-unit, 19-storey concrete highrise known as Peter Manor, was originally built in 1970, and acquired by Starlight in 2018 as part of a four property portfolio sale for $247 Million.

The infill proposal for the property includes a new 6-storey apartment building fronting Haro Street, and a 3-storey townhouse building fronting the lane.

Details include:

  • 61 market rental units;
    • 28 one-bedrooms, 24-two-bedrooms & 9 three-bedrooms;
  • A building height of 61 ft.;
  • New density of 1.69 FSR.

Under the site’s existing RM-5A zoning, the application is “conditional” so it may be permitted. However, it requires the decision of the Director of Planning.

The architect for the project is BHA Architecture.

August 17, 2023by david.taylor@colliers.com
Apartment, Development, Retail

Redevelopment of Dunbar Theatre Site to Include 45 Rental Units

A development application has been submitted to the City of Vancouver for the Dunbar Theatre site at 4555 Dunbar Street, at the corner of West 30th Avenue.

The proposal calls for the redevelopment of the 19,700 SF corner site with a new 5-storey, mixed-use building containing retail use on the first level and residential on levels 2 through 5.

The proposal includes the following:

  • 45 rental units;
    • 2 studios, 24 one bedrooms, 13 two-bedrooms & 6 three bedrooms;
  • 6,702 SF of theatre space;
  • 4,944 SF of retail space including a coffee shop and restaurant;
  • a total density of 2.89 FSR;
  • a building height of 68 ft.
  • Two levels of underground parking having vehicular access from the lane.

The proposal includes heritage designation of the retained exterior and structure of the Dunbar Theatre, originally constructed in 1935 and expanded and altered in 1964. The plan includes retaining the historic façade, theatre lobby, and select interior elements of the auditorium that are reinstated or replicated to match the original.

Under the site’s existing C-2 zoning, the application is “conditional” so it may be permitted. However, it requires the decision of the Director of Planning.

The architect for the project is Giant Union Design Architecture & Planning Ltd.

The site was assembled between 2017 & 2018 for a combined $30,180,000 or $558 per buildable SF based on the application.

August 1, 2023by david.taylor@colliers.com
Development, Land

SOLD: Westside Vancouver Land Assembly

I am pleased to announce the successful completion of sale of a 1-acre, 6-lot land assembly at 1026-1108 West 41st Avenue in Vancouver.

July 25, 2023by david.taylor@colliers.com
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First Capital REIT acquired by Choice Properties and KingSett for $5.2-billion

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First Capital REIT --> Choice Properties REIT and Kingsett Capital are teaming up to acquire the Canadian real estate company in a deal valued at over $9 billion, including assumed debt. Choice Properties will acquire roughly five billion dollars worth of shopping centres, while

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West Vancouver condo project in receivership, causing 'heartbreak' in Dundarave

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Greater Vancouver commercial real estate transactions down 8.3% in 2025 via @westerninvestor

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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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