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

40-Unit Condo Building Slated for New West Site

Applications have been submitted to the City of New Westminster in order to rezone a site at 909-915 Twelfth Street, at the corner of Twelfth and London Streets at the edge of the Moody Park Neighbourhood. The 13,000 SF combined site is currently older single storey commercial buildings.

The proposal for the site is a 5-storey condo building that includes:

  • 40 condo units;
  • 2 studios, 14 one-bedrooms, 18 two-bedrooms & 6 three-bedrooms;
  • a total density of 2.50 FAR;
  • a building height of 64 ft.;
  • 61 underground parking spaces.
  • purchase of a portion of the City-owned lane.

The architect for the project is Vivid Green Architecture.

The site was assembled in 2017 for $4,460,000 or $136 per buildable SF based on the application.

July 12, 2020by david.taylor@colliers.com
Condo, Development, Retail

6-Storey Condo Planned for Commercial & 12th Corner

Wesgroup has submitted a rezoning application for a site at the corner of Commercial and East 12th in East Vancouver, sold by our team in 2019.

The proposal is to allow for a 6-storey mixed-use building. The zoning would change from C-2C1 to allow development of:

  • 62 condo units;
  • 7,200 SF of ground floor retail space;
  • A total density of 3.00 FSR;
  • Maximum height of 74.3 ft.;
  • 71 vehicle parking spaces and 117 bicycle parking spaces.

The architect for the project is Ciccozzi Architecture.

July 10, 2020by david.taylor@colliers.com
Condo, Development

Rezoning Application for Alberni Site Details 264 Units

Landa Global has submitted their formal rezoning application for 1650 Alberni Street.

Landa acquired the site from Hollyburn Properties in 2018 for $130,000,000, or $502 per buildable SF based on the rezoning application.

The proposal is for the development of a 43-storey residential building. Details include:

  • 264 units;
  • 66 secured replacement market rental housing units;
  • 198 condo units;
  • 40 studios, 60 one-bedrooms, 129 two-bedrooms & 35 three-bedrooms;
  • Building height of 385 ft.
  • A density of 14.97 FSR;
  • 268 vehicle parking spaces and 535 bicycle parking spaces.

The application is being considered under the West End Community Plan(External link).

The architect for the project is SOM with IBI Group.

July 10, 2020by david.taylor@colliers.com
Condo, Office, Retail

Mixed-Use Development Pitched for 4 Acre Richmond Site

Thind Properties has applied to the City of Richmond for permission to rezone a 3.9 acre site at 5740, 5760, and 5800 Minoru Boulevard, in the Lansdowne Village area of Richmond.

Thind acquired the site in 2018 for $60,000,000.

The proposed concept for the site was first unveiled in late 2019. The formal application now confirms a high-rise, high density, mixed use development to replace the existing older commercial/industrial buildings on site.

The project comprises a 12-storey office tower and three residential towers.

Details include:

  • 429 residential units;
  • 341 condos and 88 affordable housing units;
  • 162,000 SF of office space;
  • 25,000 SF of retail space;
  • a total gross density of 3.20 FAR;
  • 632 parking spaces.

Prior to rezoning adoption, legal agreements will be registered on title to limit subdivision by air space parcel or strata-title on a floor-by-floor basis (to ensure the development provides for flexible, large floorplate office spaces).

The architect for the project is IBI Group.

July 9, 2020by david.taylor@colliers.com
Condo, Development

Application Submitted for 48-Storey, 374-Unit Barclay Street Tower

The formal rezoning application has been submitted by Pacific Northern Developments for the site at 1063-1075 Barclay St, the initial designs for which were released at an online open house last month.

The proposal is to allow for the development of a 48-storey residential building under the rezoning guidelines in the West End Community Plan. The proposal includes:

  • 374 residential units;
    • 295 condo units;
    • 79 social housing units;
  • A total density of 19.1 FSR;
  • Building height of 469 ft.;
  • Five levels of underground parking with 357 vehicle parking spaces and 770 bicycle parking spaces.

The architects for the project are ACDF Architecture & IBI Group.

The site, currently occupied by an older 7-storey condo building, was acquired in 2018 for $113,000,000, or $343 per gross buildable SF based on the rezoning application.

July 7, 2020by 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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