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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Development

30-Storey Hotel Planned for Seymour Street Site

Paul Y. Construction has submitted a rezoning application to the City of Vancouver for a site at 848 Seymour Street in Downtown Vancouver.

The proposal is to allow for the development of a 30-storey hotel that includes:

  • 393 hotel rooms;
  • a total density of 17.7 FSR;
  • A building height of 317 ft.; and
  • 59 vehicle parking spaces and 33 bicycle parking spaces.

The application is being considered under the Rezoning Policy for the Central Business District (CBD) and CBD Shoulderand the Metro Core Jobs and Economy Land Use Plan.

The architect for the project is Perkins & Will.

August 25, 2022by david.taylor@colliers.com
Development

Phase 2 of Concord Metrotown to Include 5 Towers, 2,100 Units

Concord Pacific has submitted their formal rezoning application to the City of Burnaby for Phase 2 of their Concord Metrotown project, on the Western portion of the overall site.

The overall master plan for the Concord Metrotown project originally proposed four phases of development. Concord has now proposed to coalesce the last three phases into one rezoning as a larger second phase. The total site area of Phase 2 is 5.30 acres and will likely be built out over a period of several years.

The proposal includes:

  • a 40-storey condo & non-market rental building;
  • a 49-storey condo & non-market rental building;
  • a 58-storey condo & non-market rental building;
  • a 47-storey, 375,000 SF office tower at 614 ft. height;
  • a 60-storey market rental building;
  • a gross floor area of 2.3 Million SF;
  • a total density of 9.99 FAR;
  • 1,145 condo units;
  • 188 non-market rental units;
  • 791 market rental units;
  • 616,000 SF of commercial space;
  • 3,054 parking stalls.
July 22, 2022by david.taylor@colliers.com
Condo, Development, Office, Retail

Mixed Use Building Proposed for Dundarave Village Site

A development permit application has been submitted by Dundarave Beachside Limited Partnership for an assembly of six commercial properties totaling 43,765 SF in the Dundarave Village area of West Vancouver.

The site at 2452-2496 Marine Drive is located at the Southeast corner of Marine Drive and 25th Street. It is currently occupied by a Shopper Drug Mart and several other single-storey retail tenants.

The proposal is for a new three-storey building that includes:

  • 55 condo units;
    • 20 one-bedrooms, 27 two-bedrooms & 8 three-bedrooms;
  • 12,000 SF of retail space;
  • 10,000 SF of office space;
  • a total density of 2.29 FSR;
  • a plaza and parkette at Marine Drive and 25th Street
  • an improved pedestrian connection at the east end of the site
  • 122 underground parking spaces;
  • 110 bicycle storage spaces.

The architect for the project is IBI Group.

July 22, 2022by david.taylor@colliers.com
Condo, Office, Retail

12-Storey Mixed Use Project Envisioned for Port Moody Site

A preliminary rezoning and OCP amendment application has been submitted by 100 Developments to the City of Port Moody for a new mixed-use development at 2115-2131 St. Johns Street in the Moody Centre area.

The 1-acre site is made up of five single family parcels located on the south side of St. Johns Street and west of Douglas Street.

The OCP designates the subject site for Multi-Family Residential uses up to a maximum of 6
storeys.

The development proposal consists of two 12-storey mixed-use buildings (one residential and
one office building, each with commercial uses, and includes the following:

  • 80 condo units;
  • 36 seniors units with 50% as affordable rental;
  • 89,500 SF of strata office space;
  • 21,600 SF of retail space;
  • a total density of 6.3 FAR;
  • 3,500 SF of daycare space;
  • 325 parking stalls.

A Heritage Revitalization Agreement (HRA) to retain the Martha Johnston Residence and convert it into a medical office (the HRA would take place of a Zoning Bylaw amendment to rezone the site).

The architect for the project is Bite Design Group.

July 20, 2022by david.taylor@colliers.com
Development, Office, Retail

7-Storey Office Building Planned for Seymour Street Site

A development application has been submitted by Bene Group for a 7,500 SF site in Downtown Vancouver at 852-872 Seymour Street. The development proposal is for a 7-storey office building with heritage retention and commercial at the ground level.

Details include:

  • 41,240 SF of office space;
  • A building height of 70 ft.;
  • Total density of 5.5 FSR (including 10% Heritage Preservation Bonus)
  • Three levels of underground parking with 34 stalls.

The proposal entails preservation and restoration of the existing 1926 heritage building on site. The site area is 62.5 x 120 ft.

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

The subject property sold in 2020 for $15,000,000, or $364 per buildable SF based on the application.

The architect for the project is Arno Matis Architecture.

July 11, 2022by 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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