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

47-Unit Townhouse Project Slated for Cambie Area Block

Zail Properties has applied to the City of Vancouver for permission to develop a new townhouse development on a full city block site in the 500 Block of West 27th Avenue at Ash Street, just West of Cambie.

The proposal includes:

  • 47 three-bedroom units;
  • a total density of 1.20 FSR;
  • Approximate overall building heights up to:
    • 38 ft. facing Ash Street and West 27th Avenue
    • 33 ft. facing rear and side lanes
  • One level of underground parking (approximately 59 stalls) having vehicular access from the north side lane.

Under the site’s existing RM-8A zoning, this application is “conditional” and may be permitted pending review and decision by the Director of Planning.

The architect for the project is Ciccozzi Architecture Inc.

The full application details can be viewed here: https://www.shapeyourcity.ca/531-595-w-27-ave

January 24, 2023by david.taylor@colliers.com
Condo, Development

FOR SALE: North Vancouver Townhouse Development Site

We are pleased to present the opportunity to acquire a pre-assembled townhouse development site in the Maplewood Village area of North Vancouver. The 29,500 SF site is designated to allow townhouses up to 1.20 FSR or approx. 35,500 SF gross buildable.

Current plans envision a 27-unit stacked townhouse development. Full architectural plans and supporting consultant reports are available upon request.

Please visit here or contact me for further details.

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

114 Condo Units Planned for Cambie Street Site

Mosaic Homes has submitted a rezoning application for a four-lot land assembly that they own at 4711-4787 Cambie Street in Vancouver.

The site is a full city block on the West side of Cambie Street between West 31st and West 32nd Avenues, across from Queen Elizabeth Park.

The proposal for the 37,000 SF site includes two 6-storey residential buildings with two single-storey amenity buildings at the lane. Details include:

  • 114 condo units (57 units in each building);
  • 8 studios, 46 one-bedrooms, 48 two-bedrooms & 12 three-bedrooms;
  • A total density of 2.66 FSR;
  • A building height of 70 ft.; and
  • 132 vehicle parking spaces and 249 bicycle parking spaces.

The application is being considered under the Cambie Corridor Plan.

The application describes the design: “The proposed vocabulary for this development is a Georgian-inspired contemporary architecture boasting dark brick material and elegantly proportioned window patterning for the lower floors and stepping back approximately eight feet on the two upper floors and using a less dominant light color to break the overall mass and create a transition to the future low-rise developments to the west.”

The architect for the project is Ciccozzi Architecture.

December 13, 2022by david.taylor@colliers.com
Apartment, Condo, Development, Office, Retail

High-Density Mixed Use Redevelopment Proposed for 5000 Kingsway

McCarthy Properties have submitted a Master Plan Concept to the City of Burnaby for the redevelopment of McCarthy Plaza, a full city block property on Kingsway in the Metrotown area.

The 3.83 acre site is comprised of four parcels, occupied with a number of older lowrise retail and medical/office buildings, collectively known as the Plaza 5000 complex.

The McCarthy Plaza site is located within the Metro Downtown Neighbourhood of the Metrotown Downtown Plan area which designates site for high-density mixed-use residential development under the RM5s Multiple Family, RM5r Multiple Family Residential District, and C3 General Commercial Districts.

The preliminary concept includes three mixed use towers above podiums to be built in four phases, as well as a new North-South public street “McCarthy Way”. The overall project will include approx. 1.8 Million SF.

Phase 1 includes a 70-storey signature landmark tower that includes:

  • 820,000 SF;
  • 425,000 SF of residential including 160,000 SF of rental in the lowrise.
  • 500 total residential units;
  • retail and office space;
  • substantial amenity space including daycare space, meeting spaces; gardens, bowling alley, fitness centre, basketball court and first nations art gallery.

The second and third phase anticipate a 54-storey mixed-use tower, and a 45-51 storey tower respectively. Phase 3 includes options for residential or commercial uses. Phase 4 includes a smaller lowrise commercial building.

The formal rezoning application for the project is expected in early 2023 and will include concurrent applications for the overall master plan and Phase 1 of the project.

The architect for the project is Dialog.

December 7, 2022by david.taylor@colliers.com
Condo, Development

Coromandel & Peterson Propose Condo & Social Housing for Two Oakridge Sites

Coromandel Properties and Peterson Group have submitted two concurrent rezoning applications for sites in the Oakridge area. The rezonings contemplate two condo towers on Manson Street, and the required 30% social housing requirement to be placed on a nearby site at Ash Street and West 37th.

These applications represent the first transfer of social housing density between sites in the Cambie Corridor Plan. To date, no proposals have been made in the Oakridge Municipal Centre area with a blend of condo and social housing.

Manson Street Site

The proposal on Manson Street is for an assembly of 5 single family lots at 5392-5472 Manson St. The proposal is to allow for the development of two 18-storey condo buildings over four levels of underground parking. The proposal includes:

  • 248 condo units;
    • 76 one-bedrooms, 146 two-bedrooms & 26 three-bedrooms;
  • A total density of 5.6 FSR;
  • A building height of 197 ft.; and
  • 266 vehicle parking spaces and 567 bicycle parking spaces.

The architect for this project is IBI Group.


Ash Street Site

The proposal for the site at Ash and West 37th Avenue anticipates rezoning a 3-lot single family assembly to allow for the development of the social housing component to be transferred from the Manson site above. The rezoning at 5250-5270 Ash St and 595 W 37th Ave calls for a 6-storey building that includes:

  • 77 social housing units;
  • a total density of 2.97 FSR;
  • A building height of 75 ft.; and
  • 31 vehicle parking spaces and 162 bicycle parking spaces.

The architect for the Ash Street project is NSDA Architects.

Both applications are being considered under the Cambie Corridor Plan.

December 6, 2022by 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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