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, Development, Retail

212 Rental Units Planned for East Hastings Block Under MIRHPP

Two rezoning applications have been submitted by PCI Group for two separate sites that bookend the 3600 Block of East Hastings Street near the Burnaby border in the City of Vancouver.

The applications seek two 14-storey rental apartment towers under the Moderate Income Rental Housing Pilot Program, which allows rezoning to higher densities in exchange for 20% of the density designated for moderate income households.

3680 East Hastings Street was sold by our team in 2018.

The details of the two proposals are as follows:

3600 East Hastings Street (at Kootenay Street)

  • 94 rental units;
  • 8,036 SF of retail at grade;
  • a total density of 7.10 FSR;
  • a building height of 158.2 ft.; 
  • 41 underground parking spaces and 125 bicycle spaces.

3680 East Hastings Street (at Boundary Road)

  • 118 rental units;
  • 10,461 SF of retail space at grade;
  • a total density of 6.90 FSR;
  • a building height of 164.4 ft.; 
  • 57 underground parking spaces and 156 bicycle spaces.

The architect for the project is BHA Architecture.

April 12, 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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