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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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Development, Land

FOR SALE: Broadway Area High Density Residential Development Site

We are pleased to introduce this high-rise development site located at West 13th and Willow Street in Vancouver.

Please click here or contact us for further details.

June 6, 2023by david.taylor@colliers.com
Apartment, Development

77 Rental Units Proposed for Kerrisdale Site

Sightline Properties has submitted a development application to the City of Vancouver for a 2-lot land assembly at the Southwest corner of West 41st Avenue and Maple Street in Kerrisdale.

The 17,750 SF site was rezoned under the Secured Rental Policy to RR-3B in February. This designation allows 6-storey buildings with ground floor commercial uses.

The plan for the project includes:

  • 77 market rental units;
    • 20 studios, 30 one-bedrooms, 24 two-bedrooms & 3 three-bedrooms;
  • 6,280 SF of retail space;
  • A total density of 3.43 FSR;
  • A proposed height of 72 ft.;
  • Two levels of underground parking, providing a total of 44 parking spaces having vehicular access from the lane.

Under the site’s proposed RR-3B 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 Yamamoto Architecture.

May 18, 2023by david.taylor@colliers.com
Apartment, Condo, Development

567-Unit Condo & Rental Project Slated for Burquitlam Site

Rize Alliance has submitted a rezoning application to the City of Coquitlam for a 1.78 acre site at the corner of Elmwood and Westley in the Oakdale area within the Burquitlam-Lougheed Neighbourhood Plan.

The site is an assembly of 11 single family lots that are designated High Density Apartment Residential in the OCP. It is located 500 metres from the Burquitlam Skytrain Station.

The plan for the site is to develop a 38-storey condo tower, a six-storey condo building, and two six-storey purpose-built rental buildings. Overall details include:

  • 567 total residential units;
  • 404 condos;
  • 141 market rental units;
  • 22 below-market rental units;
  • a total density of 5.50 FSR;
  • $12.1M in density bonus;
  • $2.1M in Payment in-Lieu for Parking Reductions;
  • $521, 000 in voluntary Community Amenity Contributions (CACs);
  • 543 parking spaces with 458 EV parking spaces; and
  • 30, 516 SF of common amenity space.

The architect for the project is GBL Architects.

May 12, 2023by david.taylor@colliers.com
Apartment, Development

Revised Proposal for West End Tower Site Includes Rental & Social Housing Units

Strand Development has submitted a new rezoning application for a site they own at the corner of Burnaby and Thurlow Street in the West End.

The 17,286 SF site at 1068-1080 Burnaby Street was originally envisioned as a 30-storey luxury condo & social housing project at 9.01 FSR, and was approved for rezoning in 2018, though the zoning was never enacted.

More recent planning policy adopted by the City in 2022 allows for more flexibility in the delivery of rental housing in this subarea.

The new application is for a 34-storey residential building and includes:

  • 287 market rental units;
  • 10% residential floor area for social housing (approximately 24 units);
  • 6,600 SF floorplates;
  • A total density of 12.25 FSR;
  • A building height of 295 ft; and
  • 125 vehicle parking spaces and 515 bicycle parking spaces.

This application is being considered under the Criteria for 100% Secured Rental and Below-Market Housing as an Alternative to Inclusionary Social Housing in the Burrard Corridor of the West End Community Plan.

The architect for the project is BOP Architects.

May 5, 2023by david.taylor@colliers.com
Apartment, Development, Retail

77-Unit Rental Building Eyed for Prominent East Broadway Site

Third Space has submitted a rezoning application for a site at 1926-1978 East Broadway, at the corner of Victoria Street in East Vancouver. The triangular site includes two single family lots and a former gas station lot that was decommissioned in the early 2000’s and has been used as a community garden in recent years.

The 20,600 SF site is currently zoned C-1 but is located within the Grandview Woodland Community Plan which allows for rezoning up to 6-storeys.

The proposal for the site includes:

  • 77 rental units (26 units at below-market rates);
  • 6,300 SF of ground floor retail space;
  • A total density of 3.0 FSR;
  • A building height of 73 ft.; and
  • 88 vehicle parking spaces and 150 bicycle parking spaces.

The application is being considered under the Grandview-Woodland Community Plan.

The architect for the project is Yamamoto Architecture.

May 2, 2023by 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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