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Market Research

Pricing Remains Stable for Concrete Condos

A year-over-year review of pricing for resales of concrete condos in Vancouver’s submarkets shows that most areas are showing flat prices amid stable sales levels during this period. The analysis used only condos built since 1998. Burnaby and Surrey both showed slight declines over this period, perhaps as a result of increased new highrise product in these town centre areas.

Pricing 12 & 13Source: MLS

June 6, 2013by david.taylor@colliers.com
Development, Office, Retail

Auto and Commercial Uses Proposed for Lougheed and Boundary Development

A rezoning proposal has been put forward to develop a phased commercial development at 2020 Boundary Road, a site the Northeast corner of Lougheed and Boundary Road in Burnaby. Translink sold the site last year to the Open Road Auto Group for $19.2 Million.

The development will consist of:

  • two or three high-end auto dealerships
  • a 4-storey fully enclosed glass structured car parkade
  • an 8-storey, 85,000 SF office building with underground parking and grade level retail uses
  • a total density of 0.77 FAR

The auto dealerships are proposed to be the first phase of the development, with the commercial uses later.

Boundary & Lougheed

June 5, 2013by david.taylor@colliers.com
Development

Wesgroup Initiates Rezoning for Marine & Cambie Site
Following two projects (Marine Gateway and MC2) that have largely sold out and moved into the construction phase, Wesgroup is proposing to rezone their site at the Northwest corner of Marine Drive and Cambie Street to permit a high density residential development consisting of:
  • 368 residential units located in a 285 foot, 31-storey high rise tower and a 12-storey tower both sitting above a 2-storey base podium.
  • Ground level commercial space of approx. 15,000 SF located along the Marine Drive and Cambie Street frontages.
  • a separate three storey community amenity facility at the northwest corner. Adjacent to Ash Park, the facility is proposed to contain a 37 space daycare facility and a 4,500 SF community facility, which is anticipated to accommodate a relocated Marpole Oakridge Family Place.
  • 387 underground parking spaces.
  • a total density of 5.60 FSR.

Source: City of Vancouver

June 4, 2013by david.taylor@colliers.com
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