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

68-Unit Condo Building Planned for Joyce Collingwood

A rezoning application has been submitted by Nexst Properties for a 5-lot land assembly in the Joyce Collingwood area of East Vancouver. The site at 3235-3261 Clive Avenue is currently improved with five single family lots.

The proposal consists of a 6-storey residential building and five ground-oriented townhouses fronting Clive Avenue, including:

  • 68 condo units;
    • 2 studios, 42 one-bedrooms, 33 two-bedrooms & 11 three-bedrooms;
  • a total density of 2.25 FSR;
  • a maximum building height of 69 ft.;
  • 68 underground parking spaces and 138 bicycle spaces.

This rezoning application is being considered under the Joyce-Collingwood Station Precinct Plan. 

The architect for the project is DYS Architecture.

The site was acquired in 2017 for $14,100,000 or $279 per buildable SF based on the application.

April 26, 2019by david.taylor@colliers.com
Condo, Development

64-Units Okayed for Rodgers Creek Area of West Vancouver

British Pacific Properties has been granted approval for a new residential development project in the Rodgers Creek area of West Vancouver. Rodgers Creek includes 215 acres above the Upper Levels Highway near Cypress Bowl Road.

This latest application is for ‘Lot 3’, a 2.66 acre triangular piece in Area 6 of the overall Rodgers Creek area, is for a new concrete residential project in three buildings, one 10-storeys, one 6-storeys and one three-storeys. It includes:

  • 64 condo units;
    • 15 one-bedrooms, 41 two-bedrooms & 8 three-bedrooms;
  • a total density of 0.78 FAR;
  • a maximum height of 111 ft;
  • a 3-storey neighbourhood amenity building with fitness area and event space;
  • 132 underground parking spaces.

The architect for the project is Saunders Architecture.

April 24, 2019by david.taylor@colliers.com
Condo, Development, Retail

6-Storey Building Slated for Grandview Woodland Site

Cape Group has submitted a rezoning application for a four lot land assembly at the Southwest corner of Nanaimo and Charles Street in the Grandview Woodland area of East Vancouver. The application for 2336-2366 Charles Street calls to rezone from RT-5 and C-1 CD-1 (Comprehensive Development) District to allow a 6-storey mixed-use building, including:

  • 64 condo units;
    • 32 one-bedrooms, 24 two-bedrooms & 9 three-bedrooms.
  • 8,234 SF of ground floor retail;
  • a total density of 3.2 FSR;
  • a maximum building height of 74 ft.; and
  • 64 underground parking spaces and 133 bicycle spaces.

 

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

The architect for the project is Human Studio Architecture + Urban Design. 

April 18, 2019by david.taylor@colliers.com
Condo, Development

Rezoning Plan for West Georgia White Spot Calls for 455 Condo Units in Two Towers

The formal rezoning application has been submitted for the White Spot site on West Georgia Street at Cardero Street. The long anticipated application calls to rezone 1608-1616 West Georgia Street to allow for the redevelopment of the site for two 38-storey luxury condo towers.

The site sold in 2017 for $245 Million in an off-market transaction to Carnival International Holdings in partnership with Aspac.

The proposal is for two residential towers above a 4-storey podium, including:

  • 455 condo units;
    • 216 one-bedrooms, 179 two bedrooms, 56 three-bedrooms & 4 townhouses;
  • A total density of 9.60 FSR;
  • Six levels of underground parking with 503 vehicle parking stalls and 911 bicycle parking spaces.

This application is being considered under the West End Community Plan and the Rezoning Policy for the West End.

The architects for the project are Pelli Clarke Pelli in partnership with IBI Group.

The full rezoning application can be viewed here: https://rezoning.vancouver.ca/applications/1608-1616WGeorgia/index.htm

April 17, 2019by david.taylor@colliers.com
Apartment, Condo, Development

60-Storey Tower Proposed for Nelson Street Site

A rezoning application has been filed for 1059-1075 Nelson Street, a two-lot assembly sold previously by our team. The plan calls to rezone the existing two lowrise apartment buildings for redevelopment in order to permit the development of a 60-storey residential building. The site sits immediately West of the Butterfly project by Westbank, now in excavation.

The rezoning proposal includes:

  • 485 residential units:
      • 113 social housing units;
      • 49 market rental units;
      • 323 market condo units;
  • a building height of 555.5 ft. (585.5 ft. to the top of appurtenance)
  • a total density of 24.94 FSR;
  • 8 levels of underground parking with 299 vehicle parking spaces and 1000 Class A bicycle parking spaces and 26 Class B bicycle spaces.

This application is being considered under the West End Community Plan, Rezoning Policy for the West End, and the General Policy for Higher Buildings.

The architect for the project is IBI Group.

April 10, 2019by david.taylor@colliers.com
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David Taylor Personal Real Estate Corporation

Colliers International

DT

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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