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, Rental

Infill Condo Tower Proposed for West Vancouver Apartment Property

Wall Financial has submitted a preliminary development proposal for a property they own, known as ‘Peter Wall Ambleside’ at 1552 Esquimalt Avenue in the Ambleside area of West Vancouver.

The proposal is the latest iteration of several proposals to densify the 1.90 acre site over the years, beginning as far back as 2016. Previous plans included new rental infill but the most recent version was placed on hold pending the outcome of the Ambleside Local Area Plan.

The existing 20-storey apartment building was constructed in 1969 and contains 185 rental units. It is located on the east portion of the site.

The new application envisions a 19-storey condo building (secured as rental units for the first 6 years). Details include:

  • 139 condo units (secured as rental for a 6-year term)
    • 68 one bedrooms
    • 68 two-bedrooms
    • 3 townhouse units
  • a total density of 3.0 FSR across the entire site.

The architects for the project are JOG Architecture and Chris Doray.

May 29, 2025by david.taylor@colliers.com
Condo, Development

14-Storey Condo Building Pitched for Oak & King Edward

Westbank has submitted a rezoning application for the Esso Station at the Southwest corner of Oak Street and West King Edward Street in Vancouver.

The 11,328 SF site at 1010 West King Edward is currently zoned C-2, which allows up to 6-storeys for rental, or 4-storeys for condo. The Cambie Corridor Plan allows up to 6-storeys for condo and 3.0 FSR.

The proposal is to allow for a 14-storey condo building that includes:

  • 85 condo units;
    • 34 one-bedrooms, 36 two-bedrooms & 15 three-bedrooms;
  • 800 SF of retail space on the ground floor;
  • a total density of 8.0 FSR;
  • A building height of 143 ft.
  • 106 underground parking stalls.

This application is being considered under the Cambie Corridor Plan.

The architect for the project is Olson Kundig, who also designed Wesgroup’s condo project “W16” at West 16th and Cambie Street.

The full rezoning application can be viewed here: https://www.shapeyourcity.ca/1010-w-king-edward

March 26, 2025by david.taylor@colliers.com
Condo, Development

Tower 4 at Onni’s Gilmore Place Revised from Office to Residential

Onni has submitted a rezoning application for the next phase of their Gilmore Place project in the Brentwood area of Burnaby. The first two condo towers have received occupancy in 2024. The first phase includes three towers.

Phase 2 of the project also includes three towers. The first tower of this phase was originally envisioned as a highrise office tower, but has now been revised to residential.

Onni is proposing to deliver the non-market inclusionary units envisioned in the second and third phase in Tower 4, originally envisioned as a 30-storey office tower, and now a 65-storey, 759 unit residential tower.

The revised proposal for Tower 4 includes:

  • 509 condo units;
  • 250 non-market rental units;
  • a 2-storey commercial podium;
  • a 7-level parkade that will serve all of Phase 2 (three towers).
February 21, 2025by david.taylor@colliers.com
Condo, Development, Land, Rental

FOR SALE: Burnaby Woodframe Development Site

Charlie Hughes and I are pleased to introduce this 12,508 SF woodframe development site in the Edmonds area of Burnaby.

The site is located within the Edmonds Community Plan area which is expected to be finalized by Burnaby City Council in Spring 2025.

Please view our brochure for more information:

BRO_6449-6461 ELWELL STREET_BURNABYDownload
January 21, 2025by david.taylor@colliers.com
Condo, Development

130-Unit Condo Project Slated for Cambie & 27th Block

Aria Pacific Development has submitted a rezoning application for a full city block site at Cambie Street between West 27th and West 28th Avenue in Vancouver.

The 40,444 SF site was acquired in 2022 for $34,000,000 ($284 per buildable SF based on this rezoning application).

The proposal is to allow for the development of a 7-storey concrete condo project that includes:

  • 130 condo units;
    • 51 one-bedrooms, 63 two-bedrooms & 16 three-bedrooms;
  • 10,700 SF of retail space;
  • a total density of 2.96 FSR;
  • A building height of 89 ft. with additional height for rooftop amenity space.

This application is being considered under the Cambie Corridor Plan.

The architect for the project is Rafii Architects Inc.

The application explains the rationale for not pursuing 12-storeys, 4.0 FSR in the TOA Rezoning Policy.

The site is located in the Tier 2 radius of the King Edward Canada Line transit station. It will allow a 12-storey building height and 4 FSR, rather than the 6-storey and 2.5 FSR guideline under the current zoning. Since there are numerous uncertainties associated with the proposed changes, this application is being submitted under the current zoning and design guidelines. However, some relaxations are being proposed.

January 19, 2025by david.taylor@colliers.com
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First Capital REIT acquired by Choice Properties and KingSett for $5.2-billion

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First Capital REIT --> Choice Properties REIT and Kingsett Capital are teaming up to acquire the Canadian real estate company in a deal valued at over $9 billion, including assumed debt. Choice Properties will acquire roughly five billion dollars worth of shopping centres, while

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West Vancouver condo project in receivership, causing 'heartbreak' in Dundarave

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Greater Vancouver commercial real estate transactions down 8.3% in 2025 via @westerninvestor

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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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