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

29-Units Planned for South Cambie Site

A rezoning application has been submitted for a 10,545 SF mid-block site at 7843 Cambie Street, just North of West 63rd Avenue. The site is currently improved with a duplex.

The proposal consists of a new-6 storey building, and includes:

  • 29 condo units;
    • 13 one-bedrooms, 13 two-bedrooms & three 3-bedroom units;
  • a total density of 2.74 FSR;
  • a building height of 61 ft.; and
  • 29 underground parking spaces and 29 bicycle spaces.

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

The architect for the project is GUD Group.

The site was acquired in 2017 for $7,238,000, or $250 per buildable SF based on the application.

July 16, 2019by david.taylor@colliers.com
Apartment, Condo, Development

Redevelopment Eyed for 7-Acre Taylor Way Site In West Vancouver

A preliminary development proposal has been submitted to the District of West Vancouver for a large property known as Taylorwood Place at the Northeast corner of Taylor Way and Keith Road.

Taylorwood Place is a 21-lot single family bare strata subdivision built in the 1970’s. A single entity, Taylorwood Investments Ltd., owns 19 of the 21 lots and is seeking to control 100% in the near future. 

The 6.56 acre site has been the subject of past attempts at redevelopment, including in 2010 by Polygon Homes who were seeking to build 160 condos on the site at a density of 0.75 FAR. For various reasons, that plan did not proceed.

Current planning efforts have been underway since 2015 and have been delayed pending a forthcoming Taylor Way Corridor study which is likely to occur by 2020. The proponent is now seeking community feedback and is offering public benefits in exchange for an OCP amendment.

After various stages of community consultation since 2017, the current version of the development proposal is summarized as follows:

  • 390 units (condo and rental, with at least 40% of the units rental);
  • 473,000 SF of gross buildable area;
  • a total density of 1.66 FAR;
  • five terraced mid-rise apartment forms (3-6-storeys);
  • community facilities including childcare;
  • underground parking.

Council will consider the direction of a preliminary development proposal for Taylorwood Place at its meeting on July 15, 2019. A rezoning application has not been received at this time.

The architect for the project is NSDA Architects.

July 11, 2019by david.taylor@colliers.com
Condo, Development

43-Units Planned for Vacant West 7th & Fir Corner Site

Solterra Development has submitted a development application for a vacant lot at the Southwest corner of West 7th Avenue and Fir Street. Solterra acquired the site in 2011 after which time the 2-storey office building (Family Services of Greater Vancouver) was demolished. A previously approved development application for the 9,406 SF site was shelved and the site has since sat vacant for several years.

The current proposal for 1616 West 7th Avenue is for a new-11-storey building under the existing C-3A guidelines and includes the following:

    • 43 condo units;
      • 17 one-bedrooms, 23 two-bedrooms & 7 three-bedroom units
    • 4 two-storey townhomes along West 7th Avenue; 
    • a total density of 5.40 FSR;
    • a 5,901 SF cultural facility space (provision allowing increase above 3.0 FSR);
    • over four levels of underground parking with 78 stalls.

The architect for the project is IBI Group.

Solterra acquired the site in 2011 for $4,287,500, or $95 per buildable SF based on the application.

July 10, 2019by david.taylor@colliers.com
Condo, Development

29-Units Proposed for Single Cambie Lot

A rezoning application has been submitted for a single corner lot in the Cambie Corridor at the corner of Cambie Street and West 26th Avenue.

The plan for the 10,130 SF site is to redevelop the single family lot to allow a new 6- storey woodframe residential building that includes:

  • 29 condo units;
    • 11 one-bedrooms, 15 two-bedrooms & 3 three-bedrooms;
  • a total density of 2.50 FSR;
  • a building height of 64.5 ft.; and
  • 33 underground parking spaces on two levels and 36 bicycle spaces.
  • multiple roof decks at different levels and a children’s play area.

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

The architect for the project is Billard Architecture.

The site was acquired in 2018 for $11,950,000, or $472 per buildable SF.

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

68-Units Slated for Cambie Street Site

A rezoning application has been submitted for a two-lot land assembly on the East side of Cambie Street between West 27th and West 28th Avenue. The site at 4338-4362 Cambie Street is 20,848 SF.

The proposal consists of a 6-storey residential building that includes:

  • 68 condo units including 6 townhouses at the lane;
    • 42 one-bedrooms, 18 two-bedrooms & 8 three-bedrooms;
  • A total density of 2.75 FSR;
  • A building height of 67 ft.; and 
  • 68 underground parking spaces and 129 Class A bicycle spaces.

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

The architect for the project is Arno Matis Architecture.

Matis also designed a project one block North, which will include 57-units.

The site was acquired in 2017 for $17,500,000 or $305 per buildable SF based on the application.

July 8, 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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