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.
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.
  • About
  • Listings & Sales
  • Thinking of Selling?
  • Metro Vancouver Commercial Real Estate Market Data
  • Subscribe
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
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
Page 13 of 58« First...10«12131415»203040...Last »

Thinking of selling?

I track every commercial sale in Metro Vancouver. If you're wondering what your property is worth, I can give you an informed view.

Get an Opinion of Value

David Taylor · Colliers · 604-761-7044

Search the Site

Categories

  • Apartment
  • Condo
  • Development
  • For Sale
  • Hotel
  • Investment
  • Land
  • Market Research
  • Office
  • Rental
  • Retail
  • SOLD


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.

© 2019 Copyright  |  All Rights Reserved