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.
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Condo, Development

A Rare Sighting: A 100% Condo Tower in the Broadway Plan

Bastion Development has submitted a rezoning application for their site at Arbutus & West 10th Avenue for a 20-storey condo tower. The site at 2120-2150 West 10th Avenue is 17,248 SF and located just one block from the Arbutus Station.

A previous proposal for the site in 2021 was for a 5-storey condo building with 42 units under existing zoning.

The project is the first application under the Broadway Plan seeking 100% condo use. Most sub-areas of the Plan require rental, or a mix of condo and social housing. This particular sub-area, known as Kitsilano Arbutus Broadway Sub area C, allows for 100% condo with a CAC payment.

Details of Bastion’s proposal for the site is a 20-storey tower that includes:

  • 86 condo units;
    • 71 two-bedrooms, 12 three-bedrooms & 3 townhouses;
  • 3,900 SF of retail space on the ground floor;
  • a total density of 6.93 FSR;
  • A building height of 217 ft.
  • 144 parking stalls on 4 underground levels.

The rezoning will require a CAC payment, yet to be determined.

The architect for the project is Arcadis.

The full application can be viewed here: https://www.shapeyourcity.ca/2120-2150-w-10th-ave

November 6, 2024by david.taylor@colliers.com
Condo, Development

Ten Towers, 3,800 Units Envisioned for 3200 East Broadway Site

MST Development, in partnership with Aquilini Development has initiated the rezoning process for 3200 East Broadway, a 9.2 acre site formerly housing BC Liquor Distribution.

The City of Vancouver is seeking public input on this proposal at an early stage in the rezoning process, called the enhanced rezoning stage.

The site is considered a “Unique Site” in the Rupert and Renfrew Station Area Plan that is concurrently in the final stages of public consultation.

Early details of the proposal for 3200 East Broadway include:

  • Ten towers up to 60-storeys in height;
  • 3,800 residential units;
  • Commercial space for 1,750 jobs;
  • a childcare facility
  • 2.3 acres of public open space.

The enhanced rezoning pre-application can be viewed here: https://www.shapeyourcity.ca/3200eastbroadway

Public consultation will commence in October, with a full rezoning application expected in 2025.

September 26, 2024by david.taylor@colliers.com
Condo, Development, Rental, Retail

Bosa’s Revised Plan for Alberni Site Includes More Height, Units

Bosa Properties has submitted their revised rezoning application for 1706-1738 Alberni Street in the West End.

The site has had two previous applications/design iterations, with the first in 2020 and a subsequent design in 2021. The two designs had featured international architects and were presumably costly builds.

In July 2024, Vancouver Council approved amendments to the City’s view cone policy that relaxed a view cone (20.1) that previously restricted the Alberni site. Now, the building heights have been increased.

The proposal for the site is two mixed-use buildings at 44-storeys (east tower) and 41-storeys (west tower) above a 6-storey podium. The more conventional proposal includes:

  • 236 condo units (west tower);
  • 377 rental units (east tower);
  • 5,000 SF of retail space;
  • A total density of 16.11 FSR (east tower) and 14.60 FSR (west tower); and
  • Building heights of 385 ft. with additional height for rooftop amenity space.

This application is being considered under the West End Rezoning Policy.

The architect for the project is Henriquez Partners.

The full application can be viewed here: https://www.shapeyourcity.ca/1706-1738-alberni-st-and-735-bidwell-st

September 20, 2024by david.taylor@colliers.com
Condo, Development, Retail

82-Unit Condo Mixed Use Project Slated for Cambie Corridor Site

Matchpoint Development has submitted their rezoning application for the 600 Block of West 33rd Avenue, just West of Cambie Street.

The proposal is to allow for the development of a 5-storey mixed-use building that includes:

  • 82 condo units;
    • 18 studios, 17 one-bedrooms, 24 two-bedrooms, 15 three-bedrooms & 8 four-bedrooms;
  • 20,000 SF of commercial space (10 CRUs);
  • a total density of 2.65 FSR;
  • A building height of 55 ft.

This application is being considered under the Cambie Corridor Plan.

The architect for the project is GBL Architects.

The site was assembled in 2018 for $25,060,000 or $227 per buildable SF based on the application.

September 19, 2024by david.taylor@colliers.com
Condo, Development, Rental

Proposal for Langara YMCA Site Envisions Two Towers, 665-Units

Musqueam Capital Corporation, in partnership with YMCA BC and Townline have submitted a rezoning application for the redevelopment of the 2-acre Langara YMCA property at 282 West 49th Avenue.

The proposal is for a mixed-use development with a condo tower, a market rental tower, and a lowrise affordable hosing building. Overall, the project includes:

  • 308 market rental units;
  • 269 condo units;
  • 88 social housing units;
  • 1,900 SF of retail space;
  • A 32,000 SF replacement YMCA facility with associated childcare;
  • a total density of 6.66 FSR;
  • A maximum building height of 400 ft.

The application is being considered under the Cambie Corridor Plan and the Transit-Oriented Areas Rezoning Policy.

The architect for the project is Boniface Oleksiuk Positano Architects.

The full application can be viewed here: https://www.shapeyourcity.ca/282-w-49th-ave

September 13, 2024by 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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