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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Development, Rental

Latest Broadway Plan Tower Application is for 181 Units at 10th & Spruce

Intracorp has submitted a rezoning application for 1110 West 10th Avenue, at the Southwest corner of West 10th and Spruce Street in the Fairview area.

The site is 100′ x 125′ for a total of 12,500 SF. It is currently improved with a 3-storey walkup apartment building with 23 units.

Broadway Plan’s Fairview South – Area A limits the number of towers on a block face to two. With a rezoning proposal already submitted for 1190 West 10th Avenue, this proposal now completes the tower maximum for this block. A variance is requested to allow the density above the Broadway Plan guidelines.

The proposal is to allow for the development of a 20-storey rental building and includes:

  • 181 rental units;
  • 20% of the units below market;
  • a total density of 10.1 FSR;
  • A building height of 199 ft. with additional height for rooftop amenity space.

This application is being considered under the Broadway Plan and requests consideration of density in excess of the existing policy.

The architect for the project is DYS Architecture.

December 19, 2024by david.taylor@colliers.com
Development, Rental, Retail

City of Vancouver Proposing Two Rental Towers at Hornby & Pacific

The City of Vancouver, through the Vancouver Housing Development Office (VHDO) applied to rezone the block at the corner of Pacific & Hornby for a new highrise rental development.

The site is several parcels, including the former Kettle of Fish restaurant, and combines to form a total of 68,300 SF of land area.

The proposal is to allow for the development of 38-storey and 52-storey rental towers and includes:

  • 1,136 market rental units;
  • 11,000 SF of retail space;
  • a total density of 12.11 FSR;
  • Maximum building height of 534 ft.

This application is being considered under the Rental Housing on City-Owned Land – Public Benefits Pilot Rezoning Policy.

The architect for the project is Diamond Schmitt Architects.

The full application can be viewed here: https://www.shapeyourcity.ca/1402-1460-burrard-st

December 16, 2024by david.taylor@colliers.com
Development, Rental, Retail

69-Unit Rental Building Envisioned for Point Grey Corner

Third Space Properties has submitted a development application for a site at 10th & Discovery in the Point Grey Village area of Vancouver. The plan for the site includes a new 6-storey rental building with:

  • 69 market rental units;
  • 6,200 SF of retail space;
  • a density of 3.50 FSR;
  • a building height of 72 ft.;
  • Two levels of underground parking with access off the lane.

Under the site’s existing C-2 zoning, the application is conditional so it may be permitted. However, it requires the decision of the Director of Planning.

From a media release: “Residents will have access to shared indoor and outdoor amenities, including a versatile lounge and coworking area designed to provide space for gathering, studying, and working. The building design seeks to fit into the existing village scale, while serving as a gateway to Point Grey Village. Streetscapes along both 10th Avenue and Discovery Street have been carefully planned, featuring active retail and residential frontages, alongside generous setbacks to encourage comfortable movement, adding to the vibrancy of one of Vancouver’s oldest village centres, Point Grey.”

Teh architect for the project is Integra Architecture.

December 4, 2024by david.taylor@colliers.com
Apartment, Condo, Development, Land, Rental, Retail

Vision for Capilano Mall Redevelopment Includes 11 Towers, Up to 3,100 Units

QuadReal has unveiled preliminary concept plans for the redevelopment of Capilano Mall in North Vancouver. The plans are being unveiled for community input before a more detailed application in 2025, including a required OCP Amendment.

The 17-acre property has been the subject of preliminary planning on and off since 2019, but got underway again in 2023.

Overall concept details include:

  • 11 Towers, 12-40 storeys in height;
  • ~ 3,100 residential units;
  • 30% rental;
  • 10% mid-market rental;
  • 152,000 SF of retail/commercial space;
  • 1.5 acres of public/park space
  • a 20-30,000 SF community centre;
  • a total density of 4.0 FSR.
Timeline

Further info can be found on the project’s consultation website: https://www.reimaginecapilano.com/

November 29, 2024by david.taylor@colliers.com
Condo, Development

Keltic’s Plan for Rev’s Bowling Site Includes Three Towers, 1,665 Units

Keltic Development has been given approval to move to first reading on a rezoning application for the Rev’s Bowling site at 5502 Lougheed Highway in the Brentwood area.

Keltic acquired the site in 2023 for $94,000,000.

The site is located between Lougheed Highway to the north and Goring Street to the south and is designated for High Density Multiple Family Residential within the Brentwood Town Centre Development Plan.

The development proposal is for three residential towers (60-storeys, 54-storeys and 46-storeys) with common 5-storey podium that includes residential uses, live-work units, and commercial space on the ground floor, above a shared underground parkade. A two storey amenity building is proposed in the southeast corner of the site.

Details include:

  • 1,667 total residential units;
  • 1,432 condos;
  • 235 affordable rental units;
  • a total density of 7.17 FAR.
November 19, 2024by 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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