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, Retail

131-Condo Building Proposed for East Hastings Site

Reliance Properties has submitted a rezoning application for a site on East Hastings Street in the Grandview Woodland area of East Vancouver.

The 29,158 SF site, 1943-1967 East Hastings Street, is located at the northwest corner of Semlin Drive and East Hastings Street, three blocks from Commercial Drive. It is currently zoned MC-2 and improved with one-storey commercial buildings including: an auto repair shop, sushi restaurant, pharmacy and social club.

The proposal consists of an 8-storey mixed-use building over three levels of underground parking and includes:

  • 131 condo units;
    • 65 studios, 21 one-bedrooms, 39 two-bedrooms & 13 three-bedrooms;
  • 18,246 SF of commercial space at grade;
  • a total density of 4.01 FSR;
  • a maximum building height of 86 ft.; and
  • 169 underground parking spaces and 300 bicycle spaces.

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

The architect for the project is Dialog.

August 22, 2019by david.taylor@colliers.com
Condo, Development

65-Unit Condo Building Proposed for Ash Street

A rezoning application has been submitted by Pennyfarthing Development for a 4-lot land assembly on Ash Street, just West of Cambie Street. This area was designated for lowrise development as part of the Cambie Corridor Phase 3 Plan.

The proposal for the 29,694 SF site at 4989-5049 Ash Street consists of two 4-storey residential buildings over two levels of underground parking and includes:

  • 65 condo units;
    • 25 one-bedrooms, 33 two-bedrooms & 7 three-bedrooms;
  • a total density of 2.0 FSR;
  • a building height of 57 ft.;
  • a partial 5th storey common amenity space; and
  • 70 underground parking spaces and 139 bicycle spaces.

This rezoning application is being considered under the Cambie Corridor Plan.

The architect for the project is Rositch Hemphill Architects.

The site was acquired in 2017 for $18,197,000, or $306 per buildable SF.

August 19, 2019by david.taylor@colliers.com
Condo, Development, Retail

35-Unit Building Planned for Site Across from Langara College

A rezoning application has been submitted for a 17,935 SF, three lot land assembly at the corner of West 49th Avenue and Manitoba Street, directly North from Langara College. The project is entitled Langara House.

The site is currently zoned RS-1 (One-Family Dwelling). The proposal consists of a 4-storey woodframe mixed-used building and includes:

  • 35 condo units;
    • 1 studio, 16 one-bedrooms, 14 two-bedrooms & 4 three-bedrooms;
  • 5,700 SF of retail space;
  • a total density of 2.27 FSR;
  • a building height of 61 ft.; and
  • 53 underground parking spaces and 44 bicycle spaces.

This rezoning application is being considered under the Cambie Corridor Plan.

The architect for the project is Billard Architecture.

August 12, 2019by david.taylor@colliers.com
Condo, Development

15-Unit Townhouse Project Planned for Mount Pleasant Site

A development application has been submitted for a 12,134 SF site on East 7th Avenue, half a block West of Clark Drive in East Vancouver. The site is currently improved with three older single family homes and features a significant slope.

The application permission to develop the RM-4 zoned site with a new 5-storey stacked townhouse project that is proposed to be built to the Passive House standard. Details of the proposal include:

  • 15 stacked townhouse units;
    • 7 two-bedrooms & 8 three-bedrooms;
  • two buildings with a central courtyard;
  • a total density of 1.52 FSR (with passive house bonuses);
  • 15 parking stalls and 44 bike stalls in one level of underground.

Under the site’s existing RM-4 zoning, the application is “conditional” so it may be permitted; however, it requires the decision of the Director of Planning.

The architect for the project is Cornerstone Architecture.

August 8, 2019by david.taylor@colliers.com
Condo, Development

22-Unit Condo Building Slated for Single Cambie Lot

A rezoning application has been submitted for a single duplex lot at the Southwest corner of Cambie and West 37th Avenue, directly North of Contessa on Cambie, a 123-unit development currently under construction . The 8,780 SF lot at 526-528 West 37th Avenue is zoned from RT-2.

The proposal consists of a 6-storey residential building over one level of underground parking and includes:

  • 22 condos;
    • 11 one-bedrooms, 6 two-bedrooms & 5 three-bedrooms;
  • a total density of 2.53 FSR;
  • a building height of 67.0 ft.; and
  • 24 underground parking spaces and 47 Class A bicycle spaces.

The rezoning application is being considered under the Cambie Corridor Plan.

The architect for the project is GUD Group.

The site was acquired in 2018 for $9,160,000, or $412 per buildable SF based on the application.

July 29, 2019by 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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