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

15 Townhouse Units Pitched for Moodyville Site

The City of North Vancouver has received a Development Permit application for 427-435 East 3rd Street, a 12,000 sq ft. two lot land assembly on the south side of East 3rd Street between St. Patrick’s Avenue and St. David’s Avenue.

The proposal is a 4-storey passive house townhouse development over one level of underground parking and includes:

  • 15 townhouse units;
  • 4 one-bedroom units, 3 two-bedroom units & 8 three-bedroom units;
  • a density of 1.60 FAR;
  • 16 underground parking stalls.

The site sold in 2020 for $5,670,000 or $297 per buildable sq ft. based on the application.

The architect for the project is BFA Studio Architects.

June 18, 2021by david.taylor@colliers.com
Apartment, Condo, Development, Office, Retail

Tower 6 at ‘Amazing Brentwood’ to Include 443 Units

This rezoning application by Shape Properties is for the detailed design
and construction of the sixth tower in the overall Amazing Brentwood Project. The overall master plan for the project was approved in 2013 and the first five towers are at various stages from completed and occupied to under construction.

Tower 6 will be located at the Northwest corner of the site, fronting Willingdon. It is currently surface parking.

The proposal for Tower 6 is a 39 storey residential tower, inclusive of a 4 storey rental podium with commercial at grade. Details include:

  • 443 residential units;
  • 369 condos;
  • 21 market rental units;
  • 53 non-market rental units;
  • 20,000 sq ft of office space;
  • 11,900 sq ft of retail space fronting Willingdon & Brentwood Blvd;
  • an overall density of 9.67 FAR.
  • a total building height of 417 ft.

The architect for the project is IBI Group.

June 18, 2021by david.taylor@colliers.com
Apartment, Condo, Development

31-Storey Condo Tower Planned for Metrotown Site

A rezoning application is going to public hearing for 6615 Telford Avenue, a proposal by Kingborn Properties.

The site is located on the West side of Telford Avenue, within the Maywood neighbourhood of the Metrotown Downtown Plan. The property is currently improved with an older 54-unit, 3-storey apartment building.

A rezoning application for the site was originally submitted in 2019 although has now been revised to reflect the City’s new Rental Use Zoning Policy.

The proposal is for a 31-storey condo building and a separate 6-storey replacement/non-market rental apartment building. Details include:

  • 349 total residential units;
  • 261 condo units;
  • 54 non-market rental units;
  • 34 market rental units;
  • a total density of 5.71 FAR;
  • a tower height of 333 ft.;
  • 358 underground parking spaces.

The architect for the project is Hotson Architecture Inc.

The site was acquired in 2017 for $29,900,000.

June 18, 2021by david.taylor@colliers.com
Condo, Development

SOLD: 561-581 West 26th Avenue

I am pleased to announce the sale of 561-581 West 26th Avenue, a 22,500 sq ft. land assembly in the Cambie Corridor. The site is zoned RM-8A and will be redeveloped for townhouses.

Please contact us for further details.

June 16, 2021by david.taylor@colliers.com
Apartment, Condo, Development, Office, Retail

Burnaby Rezoning Update

A number of new rezoning applications are going before Burnaby City Council next week:

4444 and 4488 Kingsway

This 80,000 sq ft site at the Southwest corner of Kingsway and Willingdon is currently an Esso Gas Station and presentation centre and parking lot. The proposal is from Bosa Properties.

The proposal for the site is to rezone the property based on the RM5s /
RM5r and C3 zoning bylaws for a landmark, 70+ storey mixed use high-rise tower, containing the following proposes uses:

  • Market condo
  • Market rental
  • Affordable rental
  • Hotel
  • Office
  • Retail

The maximum allowable density is 14.3 FAR.

The application reveals the architect involved: “We have engaged New York based architecture firm Gensler as the design architect, with support by Vancouver based IBI Architects.”

Gensler designed Bosa’s nearby Central Park House which is currently in pre-sales.


6031 Wilson Avenue

This is a 58,000 sq ft. site also owned by Bosa Properties on the Eastern edge of Metrotown on Wilson Avenue just South of Kingsway.

Bosa is proposing to rezone the property from the current zoning to a zone based on the RM5s / RM5r as per the designation in the Metrotown Downtown Community Plan.

The proposed form of development will be a high-rise tower, containing a market condo use, with an accompanying low-rise rental building that will provide the required affordable inclusionary rental housing.

Gensler and IBI are also listed as the architect for the upcoming project.


3965 North Road

Candarel has submitted a rezoning for this 57,000 sq ft. site at North Road and Austin Road in the Burquitlam area of Burnaby.

The site is located within the Lougheed Town Centre Plan area and is designated for high-density mixed-use development using the RM5s/RM5r
and C3 Districts as guidelines. The site is currently improved with a gas station and older office building.

The preliminary development concept includes two high-rise condo and rental towers with an office podium, including retail at grade.

The total proposed density is 14.3 FAR.


5292-5318 Kingsway

This proposal is from Porte Communities for a site located within the Royal Oak Community Plan. The Royal Oak Community Plan designates the subject site for medium-density mixed-use development using the C9 Urban Village District as a guideline. The site is currently improved with a single storey car wash.

The proposal calls for a 6-storey building with 80 residential units above retail, with 20% of the units as affordable rentals.

The total proposed density is 3.025 FAR.


6622 and 6688 Willingdon Avenue

This 52,000 sq ft site is also located in the Metrotown area. The site is located within the Maywood neighbourhood area of the Metrotown Downtown Plan. The Metrotown Downtown Plan designates the subject site for high-density development using the RM5s/RM5r District as a guideline. The site is currently improved with two three-storey rental apartment buildings with atotal of 72 units, constructed in the 1960s.

The proposal is a 30-storey condo tower with a 7-storey rental podium.

The total proposed density is 8.3 FAR.

The application is being made by IDS Group.

June 11, 2021by 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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