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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

29-Unit, 5-Storey Building Planned for 12th Street in New Westminster

Rezoning and Development Permit applications have been submitted by Marchentic Holdings for a site at the corner of Twelfth and Dublin Street in New Westminster (841 12th Street).

The 13,099 SF site consists of two lots (837 and 841 Twelfth Street) and is located at the southeast corner of Twelfth and Dublin Streets at the edge of the Moody Park neighbourhood.

The proposal is for a new 5-storey residential building that includes:

  • 29 condo units;
    • 21 two-bedrooms & 8 three-bedrooms;
  • a total density of 2.13 FSR;
  • 51 parking spaces.

The architect for the project is Zhao XD Architect Ltd.

October 4, 2019by david.taylor@colliers.com
Condo, Development, Retail

181 Units Proposed for Moodyville Site

A preliminary application has been submitted by Cascadia Green Development for a site at East 3rd Street and St. Davids Avenue in North Vancouver.

The site is located in the middle of the Moodyville area, comprised of the
“Neighbourhood Centre”, the “East 3rd Street Corridor”, and the “St. Patricks Transition” areas described in the Moodyville Development Permit Area Guidelines.

An Official Community Plan amendment to expand the Mixed-Use Level 2 designation, replacing Residential Level 2 and Residential Level 5.

Preliminary plans for the project, entitled “Lolo on 3rd” envisions two 6-storey buildings separated by a plaza. Details include:

  • 181 condo units;
  • 27,319 SF of retail space along East 3rd & the lane;
  • a 1,500 SF daycare.

The architect for the project is Integra Architecture.

October 3, 2019by david.taylor@colliers.com
Apartment, Condo, Development, Retail

539 Units, Two Towers Planned for Burquitlam Site

Townline Homes, in partnership with Quadreal, have submitted their application to the City of Coquitlam for the 1.6 acre site that they own at 675 North Road and 668 Whiting Way in the Burquitlam area. The site is located on the east side of North Road, and is bound by Whiting Way to the east, Shepherd Avenue to the south, and North Road to the west.

The site is currently improved with two older lowrise apartment buildings totaling 593 units. It is located in the Burquitlam-Lougheed Neighbourhood Plan and is designated Transit Village Commercial.

Detail of the proposal include:

  • a 45-storey condo tower & 18-storey rental tower;
  • 385 market condo units;
    • 214 one-bedrooms, 119 two-bedrooms & 52 three-bedrooms;
  • 154 rental units inclusive of 20 below-market rental units;
    • 27 studios, 58 one-bedrooms, 35 two-bedrooms & 14 three-bedrooms;
  • 17,700 SF of retail space (strata retail units);
  • 665 parking spaces;
  • 35,300 SF of common amenity space;
  • tower heights of 470 ft. and 200 ft.;
  • a total density of 6.0 FAR;
  • a new east/west pedestrian connection;
  • $16 Million in bonus density funds & $230,000 in CACs

The architect for the project is Dialog.

The site sold in 2018 for $46,000,000, or $108 per gross buildable SF.

September 27, 2019by david.taylor@colliers.com
Apartment, Condo, Development, Office, Retail

Plan for East Broadway Safeway Site Includes Three Towers

Westbank has submitted their formal rezoning application for the Safeway site on East Broadway, just East of Commercial Drive.

The site at 1780 East Broadway totals 105,965 SF and is currently zoned C-3A, but was redesignated to allow a site-specific rezoning as part of the Grandview Woodland Community Plan.

The proposal consists of a mixed-use development with three residential towers (including strata, rental and social housing units), retail, office, a childcare facility, and a new public plaza.

Details include:

  • 680 total residential units;
    • 520 condos
    • 160 rental apartments;
  • a 53,000 SF Safeway store;
  • 20,000 SF of additional retail space;
  • 61,300 SF of office space;
  • a childcare facility;
  • 652 parking spaces;
  • unique “hanging gardens” in the interior courtyard;
  • a 20,000 SF public plaza running parallel to the SkyTrain station; and
  • a total combined density of 5.87 FSR.

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

The full rezoning application can be viewed here: https://rezoning.vancouver.ca/applications/1780ebroadway/index.htm

The architect for the project is Perkins + Will.

September 25, 2019by david.taylor@colliers.com
Apartment, Condo, Development

Polygon Planning 122 Units on Former City-owned Site in Burnaby

Polygon has submitted a rezoning application for a site in the Edmonds area of Burnaby that it has acquired from the City of Burnaby by public tender in late 2017. The completion of the sale is subject to achieving the rezoning.

The 3.7 acre site is located at the northeast comer of Southridge Drive and Byrnepark Drive and currently vacant and treed. It is one of seven City-owned sites in a mostly wooded area of Edmonds. Four of those sites have been sold and developed (Ledgestone – 2003-2005 & Adera Green 2009-2010).

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

  • 102 condo units;
    • 7 one-bedrooms, 41 two-bedrooms & 44 three-bedroom townhouses;
  • 20 affordable rental units;
    • 3 studios, 8 one-bedrooms & 9 two-bedrooms;
  • a total density of 1.09 FAR;
  • 194 at grade and below ground parking stalls.

The architect for the project is Integra Architecture.

September 20, 2019by 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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