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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Apartment, Condo

29-Storey Tower Proposed for Burquitlam Site

Ledingham McAllister has submitted a rezoning and development permit application for 520 Cottonwood Avenue, at the corner of Cottonwood and Whiting Way. The 39,000 SF site is located in the rapidly developing Burquitlam area of Coquitlam. The site is currently improved with an older lowrise strata building which has sold. T

The application proposes to rezone the subject site from RM-2 Three Storey Medium Density Apartment Residential Zone to Comprehensive Development (CD-10), based on the Multi-Storey High Density Apartment Residential Zone (RM-6) per the Burquitlam Lougheed Neigbourhood Plan.

Details of the proposal, entitled “Precidia” include:

  • 176 market condo units;
    • 60 one-bedrooms, 98 two-bedrooms and 18 three-bedrooms;
  • 65 market rental units;
    • 5 studios, 32 one-bedrooms, 17 two-bedrooms & 11 three bedrooms;
  • 10 non-market rental units;
    • 2 studios, 5 one-bedrooms and 3 two-bedrooms;
  • 13,000 SF of amenity space;
  • a total density of 5.50 FAR;
  • a total building height of 305 ft;
  • 310 parking spaces.

 

 

The architect for the project is IBI Group.

Ledingham acquired the site in June 2018 for $22,500,000, or $105 per gross buildable SF.

November 16, 2018by david.taylor@colliers.com
Condo, Development

176-Units Planned for Burquitlam Land Assembly

Boffo Properties has submitted rezoning and development permit applications to the City of Coquitlam for an assembly of eight single family lots totaling 1.48 acres on Como Lake Avenue and Lea Avenue in the Burquitlam area.

The proposal calls to allow for the development of two 6-storey condo buildings
in the Burquitlam Lougheed Neighbourhood Plan (BLNP) area. The existing zoning is RT-1 and would go to RM-3.

Details of the proposal include:

  • 176 condo units;
    • 90 one-bedrooms, 46 two-bedrooms & 40 three-bedrooms;
  • a total density of 2.3 FAR;
  • 414 underground parking spaces.

The architect for the project is GBL Architects.

October 15, 2018by david.taylor@colliers.com
Condo, Development

55-Unit Building Proposed for Little Mountain Area

A rezoning application has been submitted for a 5-lot land assembly at the corner of Quebec Street and East 33rd Avenue in the Little Mountain Adjacent Area of Vancouver. The site at 4906-4970 Quebec Street is currently zoned RS-1 but can be rezoned under the Little Mountain Adjacent Area Rezoning Policy.

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

  • 55 condo units;
  • a total density of 2.30 FSR;
  • a building height of 65 ft.; and
  • 64 underground parking spaces and 69 bicycle spaces.

The architect for the project is Cicozzi Architecture.

October 15, 2018by david.taylor@colliers.com
Condo, Development, Retail

32-Storey Tower Planned for Joyce Collingwood

Westbank has submitted their rezoning application for 5055 Joyce Street, a 16,000 SF site acquired from the YMCA in 2017 for $55,000,000, or $221 per buildable SF.

The site is currently zoned C-2C  but can be rezoned under the Joyce-Collingwood Station Precinct Plan. The proposal consists of one 32-storey mixed-use building over six levels of underground parking and includes:

  • 298 market condo units;
    • 146 one-bedrooms, 120 two-bedrooms & 32 three-bedrooms;
  • 11,100 SF of retail space;
  • a total density of 15.5 FSR;
  • a building height of 305 ft.; and
  • 197 underground parking spaces and 533 bicycle spaces.

The architect for the project is Perkins + Will.

October 15, 2018by david.taylor@colliers.com
Condo, Development

17-Unit Building Planned for Single Cambie Lot

A rezoning application has been submitted for a 69′ x 127′ corner lot at Cambie and West 35th Avenue. The site at 485 West 35th Avenue sold in December 2017 for $8,500,000, or $394 per buildable SF.

The proposal is for a rezoning based upon the Cambie Corridor Plan, and consists of a 6-storey market residential building over one level of underground parking and includes:

  • 17 condo units;
  • a total density of 2.46 FSR;
  • a building height of 61 ft.; and
  • 21 underground parking spaces and 28 bicycle spaces.

 

The architect for the project is GUD Group.

October 15, 2018by david.taylor@colliers.com
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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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