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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Development

38 Rental Units Proposed for Commercial & Adanac Site

A rezoning application has been submitted for a 10,704 corner site in the Grandview Woodland area of East Vancouver. The site is currently zoned RM-4N and is located at the Southwest corner of Commercial Drive and Adanac Street. The site sits directly West of the long anticipated Kettle Society/Boffo redevelopment.
 
The rezoning proposal is to permit the development of a 6-storey passive house mixed-use building. The proposal includes:
 
    • 38 market rental units;
    • 3 studios, 7 one-bedrooms, 14 two-bedrooms & 6 three-bedrooms;
    • 4,053 SF of retail on the ground floor facing Commercial Drive;
    • a density of 3.0 FSR;
    • a height of 73.7 ft.;
    • 23 underground parking spaces; and
    • 56 bicycle stalls.

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

The architect for the project is Cornerstone Architecture.

April 2, 2018by david.taylor@colliers.com
Apartment, Development, Retail

203 Units Planned for Park Royal South

A rezoning application has been filed by Larco with the District of West Vancouver for the former Whitespot property at the Southwest corner of Marine and Taylor Way, part of Park Royal South. The rezoning had been proposed several times over the past six years, but was ultimately facilitated by the City’s passage of the Marine Drive Local Area Plan in 2017. The combined 2.3 acre site includes fee simple lands, as well as leasehold lands belonging to Squamish First Nation.

The proposed plan includes two residential buildings as well as commercial space. Details include:

  • two buildings of 11 and 14-storeys in height;
  • 203 total units including:
    • 143 condo units
    • 60 rental units (49 market and 11 non-market);
  • 20,000 SF of retail space (plus 9,800 SF of retail on SFN lands);
  • 3,900 SF of childcare space;
  • a total density of 2.25 FAR;
  • a 3,100 SF public plaza;
  • 251 underground parking spaces.

The architect for the project is DIALOG.

March 30, 2018by david.taylor@colliers.com
Development

FOR SALE: West End Development Opportunity

We are pleased to reintroduce 1860 Barclay Street, the only 33 ft. lot in the West End permitted for a 6-storey infill development building. This is a unique opportunity for a builder or owner occupier to acquire a site with permits in place and immediate development potential. 

The site is offered at $5,980,000.

 

March 26, 2018by david.taylor@colliers.com
Development

Revised Plan for Hotel on Edward Chapman Site Approved

A revised development permit application has been approved for the proposed 13-storey hotel on the Edward Chapman site at 833 West Pender. The project is somewhat unique in that the site is only 52′ x 120′.

An application was originally made by Executive Group in January 2017 after they acquired the site in 2016. The application required some tweaks but has now been approved at the Development Permit Board. Here are the details of the project:

  • 106 hotel rooms (9 rooms per floor)
  • Restaurant on the ground floor;
  • Building height of approximately 154 ft;
  • A total density of 10.33 FSR;
  • A common roof deck amenity for guests including rooftop bar;
  • 20 underground valet parking spaces accessed from the lane via car elevator.

The zoning for the site allows for 9.0 FSR, but up to 15% increase for hotel use.

Executive Group plans to open the 202-room Exchange Hotel in the lowrise portion of the Exchange Tower later this year.

The architect for the project is Studio One Architecture.

March 23, 2018by david.taylor@colliers.com
Apartment, Development, Retail

47 Rental Units Planned for East Hastings Site

In what seems like a weekly occurrence, another Rental 100 rezoning application has been made for a site on East Hastings Street in East Vancouver.

This rezoning application is for a 12,080 SF site at 2601-2619 East Hastings Street, at the corner of Hastings and Penticton Street. The site is currently improved with lowrise commercial and is zoned C-2C. The proposal is for a 6-storey mixed-use building, consisting of:

    • 47 secured market rental units;
    • 8 studios, 23 one-bedrooms, 12 two bedrooms & 4 three-bedrooms;
    • 6,281 SF of retail space at grade;
    • a total density of 3.75 FSR;
    • a building height of 71 ft.; and
    • 42 underground parking spaces.

This application is being considered under the Secured Market Rental Housing (Rental 100) Policy.

March 22, 2018by 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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