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, Development

349-Unit Condo & Rental Project Planned for Burquitlam Site

Strand Development has submitted a rezoning and development application for a site on Claremont Street, just North of Como Lake Avenue in theOakdale area of the Burquitlam Lougheed Neighourhood Plan area in Coquitlam.

The 1.0 acre site is an assembly of five single family lots.

The proposal calls for the development of a 29-storey condo tower and 6-storey rental building. Details include:

  • 246 condo units;
  • 89 market rental units;
  • 14 below-market rental units;
  • 389 underground parking spaces;
  • 19,250 sq ft. of common amenity space;
  • a total density of 5.50 FAR.

The architect for the project is IBI Group.

Strand acquired the site in 2021 for $17,700,000 or approximately $70 per gross buildable sq ft based on gross density in the application.

September 26, 2021by david.taylor@colliers.com
Apartment, Condo, Office, Retail

Morguard Proposing 2,175 Condo & Rental Units for Burquitlam Plaza Site

Morguard has submitted a significant high density mixed-use project, in the
Burquitlam-Lougheed Neighbourhood Plan area of Coquitlam, immediately adjacent to the Burquitlam SkyTrain Station.

Their development application for redevelopment of the 7.9 acre Burquitlam Plaza Shopping Centre site, located at the northeast corner of Clarke Road and Smith Avenue, goes to council for preliminary approval next week.

The project includes 6 residential towers, of 53, 43, 33, 33, 29 & 29-storeys in height, with retail and office space. The proposal includes:

  • 2,195 residential units (potentially all rental, or condo & rental);
  • 84,626 sq ft of office & retail space;
  • a total density of 5.50 FAR;
  • a total density of 1.9 Million SF;
  • a one acre, at grade urban courtyard.

Given the scope of the project and the number of elements to be addressed, it is estimated that the application could proceed for consideration of First Reading at Council in the second half of 2022.

September 24, 2021by david.taylor@colliers.com
Condo, Development

70-Unit Condo Building Slated for East Broadway Site

Bucci Developments has submitted a rezoning application for an assembly of 5 single family homes at 2062-2092 East Broadway, at the corner of Lakewood Drive in the Grandview Woodland area of East Vancouver.

The proposal is to allow a 6-storey condo building that includes:

  • 71 condos;
    • 22 studios, 22 one-bedrooms, 18 two-bedrooms & 9 three-bedrooms;
  • A total density of 2.65 FSR;
  • A building height of 66 ft.;
  • 71 underground vehicle parking spaces and 140 bicycle parking spaces

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

The architect for the project is RHA Architects.

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

8-Storey Building Pitched for Marine & Taylor Way Site

Executive Group has submitted a rezoning application for the 54,000 sq ft. site they own at the Northeast corner of Marine Drive and Taylor Way in West Vancouver.

The proposal is to construct an 8-storey residential building, and designate the existing office building at 660 Clyde Avenue as a protected heritage resource. The proposal includes:

  • 68 condos;
  • 21 rental units;
  • a total density of 2.0 FAR;
  • new pedestrian connections and plazas, a separated bike path, a “parkette,” and new landscaping;
  • 112 underground parking spaces.

The architect for the project is DYS Architecture.

September 16, 2021by david.taylor@colliers.com
Apartment, Condo, Development

188-Unit Condo/Rental Tower Planned for Metrotown Site

A rezoning application by Beijing Shokai Development for a site at 6540 Marlborough Avenue is heading to public hearing at the City of Burnaby.

The site is located in the Marlborough area on the Eastern edge of Metrotown just South of Kingsway, and is currently improved with an older 30-unit walkup apartment building.

The 21,756 sq ft. site is designated RM4s and RM4r in the Metrotown Plan.

Plans for the site include a 22-storey highrise with, 14-storey of condos above 7-storeys of market and non-market rental units. Details include:

  • 132 condos;
    • 21 studios, 56 one-bedrooms, 51 two-bedrooms & 4 three-bedrooms;
  • 26 market rental units;
  • 30 non-market rental units;
  • a total density of 6.15 FAR;
  • a total building height of 224 ft.;
  • 182 underground parking spaces.

The architect for the project is IBI Group.

The site was acquired in 2020 for $22,000,000 or $164 per gross buildable sq ft. based on the application.

September 16, 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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