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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Apartment, Condo, Retail

184-Unit Project Planned for Port Moody Site

Placemaker Development has submitted an OCP Amendment, Heritage Revitalization Agreement and Development Permit application for the 2400 Block between Clarke and Spring Streets and between Kyle and Queens Streets in Port Moody.

The proposal involves: an amendment to the OCP to increase the maximum height to six storeys for those portions of the block currently limited to three storeys; approval of a Heritage Revitalization Agreement to enable the relocation of a heritage building at 2419 Clarke Street; and, issuance of a development permit for the new buildings.

This proposal includes:

  • two, 6 storey, mixed use residential/commercial buildings separated by a pedestrian mews;
  • 184 residential units consisting of:
    • 110 condo units
    • 60 market rental units and,
    • 14 below market rental units, including 13 live/work units;
  • 24,405 SF of commercial space;
  • a total density of 3.22 FSR;
  • 252 vehicle parking spaces on 2 underground levels, 273 residential and commercial bicycle spaces; and
  • relocation of the existing heritage building presently located at 2419 Clarke Street to the corner of Clarke Street and Queens Street Plaza to be used for commercial purposes.

The architect for the project is GBL Architects.

November 1, 2022by david.taylor@colliers.com
Condo, Development, Retail

73 Condo Units Slated for East Broadway Site

Enso Group has submitted a rezoning application for a 5-lot land assembly on East Broadway and Semlin, near Commercial Drive. The proposal for the 20,000 SF site at 1961-1995 E Broadway and 2465 Semlin is to allow for the development of a 6-storey mixed-use building with retail space at grade.

The application is being made under the Grandview-Woodland Community Plan.

Details include:

  • 73 condo units;
    • 46 one-bedrooms, 20 two-bedrooms & 7 three-bedrooms;
  • A total density of 3.0 FSR;
  • A building height of 23 m (75.3 ft.); and
  • 91 vehicle parking spaces and 150 bicycle parking spaces.

The architect for the project is Urban Solutions Architecture Ltd.

October 28, 2022by david.taylor@colliers.com
Condo, Land

Cambie & 27th Block Sells in $34 Million Deal

A full city block on the West side of Cambie Street between West 27th and West 29th has sold to Aria Pacific Development for $34,000,000 or approx. $336 per buildable SF based on an anticipated density of 2.50 FSR per the site’s 6-storey designation in the Cambie Corridor Plan.

The site had previously been assembled between 2016 and 2020 for a total of $40.8 Million by developer Amy Washington. It had been listed for sale since 2021 with a combined asking price of $39,920,000.

October 20, 2022by david.taylor@colliers.com
Condo, Development

72 Condos Proposed for Nanaimo & 10th Block

A development application has been submitted to the City of Vancouver for permission to develop a 4-storey mixed-use building on a 36,600 SF assembly of seven single family lots on Nanaimo Street between East 10th and East 11th Avenues.

  • 72 condos;
  • ground floor retail space;
  • a total density of 2.5 FSR;
  • A proposed height of 55 ft.;
  • Two levels of underground parking, providing a total of 11 parking spaces having vehicular access from lane.

Under the site’s existing C-2 zoning, the application is “conditional” so it may be permitted. However, it requires the decision of the Director of Planning.

The architect for the project is Ekistics Architecture.

October 3, 2022by david.taylor@colliers.com
Apartment, Condo, Development

Polygon Advances Updated “Coronation Heights” Development

Polygon is bringing forward an updated version of their Coronation Heights project to Coquitlam City Council. The 11.3 acre site is a former elementary school that was purchased in 2016. It sits directly East of Wesgroup’s proposed master plan community for Coronation Park, on the Port Moody side.

The original development application was made in March 2021 and has since been refined based on Council and community feedback. Polygon has also acquired additional surrounding lots now incorporated into the plan and has increased the total rental units in the project.

The current proposal includes:

  • Nine towers between 29-47 storeys in height;
  • 2,834 residential units;
  • 2,050 condos;
  • 784 rental units including below market units;
  • a total density of 5.53 FAR;
  • a one-acre public park on the Northwest corner;
  • two child care centres;
  • a 27,000 SF amenity building;
  • 3,600 SF of commercial space.

The project is intended to be built over 6 phases.

The overall project DCCs, density bonus payments and CACs are estimated to be $140 Million.

September 26, 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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