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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Investment

SOLD: 1700 Mountain Highway, North Vancouver

I am pleased to announce the sale of 1700 Mountain Highway in North Vancouver.

https://www.collierscanada.com/en-ca/properties/sold-mount-olivet-lutheran-church/can-1700-mountain-highway-north-vancouver-british-columbia-canada/can2005681

The property comprises a church and daycare located on a 35,000 SF lot with Public Assembly zoning. Our team was able to generate multiple offers over asking in late 2020.

May 20, 2021by david.taylor@colliers.com
Condo, Development

123 Condo Units Proposed for Maillardville Site

Porte Homes has submitted a Rezoning and Development Permit application to facilitate the development of a two building condo project in the Maillardville area of Coquitlam.

The 0.23 acre site is comprised of an existing older strata townhouse property located north of Brunette Avenue, between Lebleu Street to the west and Nelson Street to the east.

The proposed rezoning is from RM-1 to C-5 per the Maillardville
Neighbourhood Plan (MNP) which designates the site as Neighbourhood
Centre.

The proposal calls for two woodframe condo buildings at 7-storeys and 5-storeys, including:

  • 123 condo units;
  • 67 one-bedrooms, 44 two-bedrooms and 12 three-bedrooms;
  • a total density of 2.25 FAR;
  • 177 underground parking stalls.

The application describes the design rationale: “The design of the buildings incorporates distinct French architectural features, including a contemporary interpretation of mansard roofs. A colour palette of white, grey, charcoal, iron, and black is proposed, with materials including masonry, painted cementitious panels, standing seam metal cladding, architectural concrete, simulated wrought iron elements, prefinished painted aluminum trim, and clear glass guardrails.”

The architect for the project is Formwerks.

Porte acquired the site in 2018 for $9,000,000 or $89 per buildable sq ft.

May 7, 2021by david.taylor@colliers.com
Development, Office

9-Storey Office/Labratory Building Proposed for Mount Pleasant

Beedie & Abcellera have formally submitted their rezoning application for the Vancouver-based biotechnology company’s new campus at 110 West 4th Avenue. The project is a joint venture between Beedie and Abcellera.

The proposal is to build a 9-storey office and laboratory building on the 30,205 sq ft site, changing the zoning from I-1 to a new CD zone. The proposal includes:

  • 221,343 sq. ft. of office & labratory space;
  • a total density of 7.0 FSR;
  • A building height of 151 ft.;
  • 268 underground parking spaces and 88 bicycle spaces.

The application is being considered under the Metro Core Jobs & Economy Land Use Plan andPolicy on Consideration of Rezoning Applications during the Broadway Planning Process.

The rezoning and development permit application review process will take place concurrently.

Abcellera will also occupy the neighbouring 4-storey office building currently under construction.

The architect for the project is Francl Architecture.

April 28, 2021by david.taylor@colliers.com
Apartment, Condo, Development

Revised Metrotown Proposal Envisions 40-storey Tower

Intracorp has submitted a revised rezoning application to the City of Burnaby to add more height and units to an already appproved project called “Telford on the Walk” at 6537 & 6521 Telford Avenue.

In January 2021, the subject site received final adoption for a rezoning application for a 37 storey condo building and a 6-storey market and affordable rental building based on RM5s and RM5r guidelines.

The revised application seeks the following changes:

  • addition of 4 typical floors;
  • removal of one penthouse level floor, a reduction from seven penthouse levels to six;
  • increase in overall density from 6.33 FAR to 6.83 FAR;
  • total of 366 condos, 59 affordable rental units & 7 market rental units;
  • net addition of 34 condo units;
  • increased building height from 380 ft. to 411 ft.;
  • conversion of 3 market rental units to affordable rental;
  • reduction in two parking stalls and additional of one accessible stall.

The architect for the project is NSDA Architects.

April 23, 2021by david.taylor@colliers.com
Apartment, Development, Retail

124 Rental Units Proposed for Main & 54th Site

A rezoning application has been submitted for an assembly of 8 single family lots comprising a full city block site at 7018 Main Street, on the East side of Main between East 54th and East 55th Avenue in South Vancouver.

The proposal is to allow for the development of two 6-storey mixed-use residential buildings. This proposal includes:

  • 124 market rental units;
  • 33 studios/lofts, 47 one-bedrooms, 33 two-bedrooms & 11 three-bedrooms;
  • 11,076 sq ft. of retail space at grade;
  • Daycare space for 37 children located on the second floor;
  • A density of 3.66 FSR;
  • A height of 76 ft. with an additional partial storey for a rooftop amenity space;
  • 102 vehicle parking spaces and 222 bicycle parking spaces.

The application is being considered under the Affordable Housing Choices Interim Rezoning Policy.

The architect for the project is Matthew Cheng Architect Inc.

April 15, 2021by david.taylor@colliers.com
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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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